THE 10 MOST EXPENSIVE GAS VEHICLES TO OWN AND OPERATE OVER 5 YEARS
Owning a car these days can be an expensive proposition. Gas, insurance, depreciation, and repairs add up quickly, but some vehicles cost a heck of a lot more to operate than others. The team at Marketwatch Guides recently calculated the running costs of several vehicles, finding that some luxury models require a small fortune to own for five years.
The Porsche Cayenne had the highest five-year running costs, at $56,010.
The 10 most expensive vehicles to operate:
- Porsche Cayenne: $56,010
- Porsche Macan: $48,653
- BMW X5 xDrive40i: $48,456
- Genesis G80: $41,288
- Jaguar XF: $41,288
- Ford Mustang: $40,707
- Volvo XC90: $39,308
- Jeep Wrangler: $38,276
- BMW 330i: $37,889
- Audi Q5: $35,863
Marketwatch’s calculations accounted for fuel and financing costs, which were its two most expensive operating expenses for the Porsche Cayenne. Five-year financing costs amounted to $18,198, while the SUV’s fuel costs totaled $16,756. Insurance, maintenance, and taxes accounted for the remaining operating expenses.
On the opposite end of the spectrum, the Hyundai Venue had the lowest operating costs, at $22,761.
Though they were less expensive to operate than gas vehicles, several EVs tip the scales with heavy costs. The Porsche Taycan had a $53,065 five-year cost, while the Audi E-Tron GT cost $48,886 to run. The BMW iX was the third most expensive, at $45,076.
Marketwatch did not use depreciation in its running cost calculations, but in a separate comparison it looked at the fastest- and slowest-depreciating gas and electric models. The Audi E-Tron GT depreciated much faster than the Audi A3, at $7,796 over five years compared to $2,895 for the Audi A3. The Toyota RAV4 LE and RAV4 Prime had the lowest depreciation difference, with the gas model losing $3,761 in value compared to the plug-in hybrid’s $1,252 in depreciation.
The publication pointed out that most EVs have a better residual value than ICE vehicles after one year. However, the picture shifts after five years, with electric models depreciating almost as fast as gas models. And the study was likely conducted before the recent downturn in used EV values.
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The 10 most expensive gas vehicles to own and operate over 5 years originally appeared on Autoblog on Wed, 19 Jun 2024 08:30:00 EDT. Please see our terms for use of feeds.
2024-06-19T13:02:41Z dg43tfdfdgfd