What Is the Cheapest Car to Own Long Term?

For most U.S. drivers planning to keep a vehicle 8–12 years, a lightly used Toyota Corolla (including the Corolla Hybrid) or Toyota Prius is typically the cheapest to own long term, thanks to low depreciation, excellent reliability, modest insurance, high fuel economy, and inexpensive maintenance. In some cases—especially with affordable home electricity—a used Chevrolet Bolt EV with a recall-replacement battery can be even cheaper to run, but insurance, charging access, and resale value vary widely by region and use.

How “cheapest to own” is actually calculated

Total ownership cost is more than the sticker price. It’s the sum of expenses you pay over the time you keep the car, minus what you recover when you sell it. Understanding each cost bucket helps explain why some models are consistently cheaper to own than others.

• Depreciation: The value the car loses while you own it—usually the single largest cost.
• Fuel or electricity: Driven by mpg/MPGe, energy prices, and your mileage.
• Insurance: Highly model-, driver-, and ZIP code–dependent; can swing totals by thousands.
• Maintenance and repairs: Routine service, tires, brakes, and unplanned fixes.
• Taxes, fees, and financing: Sales tax, registration, interest; incentives can offset costs for EVs and some hybrids.
• Reliability and resale: Durable cars break less, keep residual value, and are easier to sell.

When you add these together over 8–12 years, reliable, efficient compacts and hybrids tend to beat larger or premium vehicles—even if they cost a bit more up front.

The short list of proven low-cost long-term cars

These models have strong track records for reliability and efficiency, and their parts, tires, and insurance are typically affordable. Buying them lightly used (around 2–5 years old) often minimizes depreciation while preserving reliability.

• Toyota Corolla (gas, 2016–2022; Hybrid 2020–present): Simple, durable, and frugal. Real-world 32–38 mpg (gas), 48–52 mpg (hybrid). Low insurance and predictable maintenance.
• Toyota Prius (2016–2022 Gen 4; 2023–present Gen 5): Among the lowest fuel costs of any non-plug vehicle (often 50+ mpg). Excellent reliability history and resale.
• Honda Civic (2016–2021; favor the 2.0L non-turbo for simplicity): Efficient (low-to-mid 30s mpg), inexpensive to keep, broad parts availability. Note: Early 1.5T models had widely reported oil-dilution complaints; the 2.0L avoids that complication.
• Hyundai Ioniq Hybrid (2017–2022): Consistently 50+ mpg in many real-world reports, straightforward maintenance, and often lower used prices than Toyota/Honda rivals.
• Toyota Camry Hybrid (2018–present): If you need more space, it delivers 44–48 mpg with Toyota hybrid reliability; tires and brakes are still modestly priced.
• Chevrolet Bolt EV/EUV (2017–2023) with recall battery replacement: Very low running costs if you have home charging and reasonable insurance. Verify paperwork for the replacement pack and warranty details.
• Honda Fit (2015–2020) and Toyota Yaris (2015–2020): Smaller, simple, high-mpg subcompacts with low parts/insurance costs—great for city driving and short commutes.

All of these models score well because they combine low energy use with strong reliability and manageable insurance and tire costs. Among them, a used Corolla Hybrid or Prius often wins on pure predictability; the Bolt can win on operating cost if your charging situation is favorable.

Why these models tend to be cheapest

The economics come down to repeatable savings in the biggest cost buckets over many years.

• Depreciation resilience: Toyota hybrids and the Corolla/Civic tend to hold value better than average, reducing your largest single cost.
• Energy efficiency: 45–55 mpg hybrids significantly cut fuel spend. Compact gas models still beat national averages. EVs with cheap home electricity can cost a fraction per mile.
• Reliability and parts: Fewer major repairs, abundant aftermarket parts, and accessible service networks keep maintenance costs low.
• Insurance and tires: Compact sedans/hatchbacks usually carry lower premiums and use less expensive tires than larger SUVs or performance cars.

Put together, these characteristics consistently yield lower total cost of ownership than bigger, faster, or more complex vehicles.

When an EV is the true low-cost champion

EVs can be the cheapest to own long term if your situation fits a few key conditions.

• You have reliable home charging at a favorable electricity rate (roughly $0.08–$0.15/kWh). At 28 kWh/100 miles, 12,000 miles per year costs about $270–$504 in electricity—often half or less of a 35–50 mpg car at typical U.S. gasoline prices.
• You drive enough miles to amplify the fuel (electricity) savings versus the higher purchase/insurance cost some EVs carry.
• You can access incentives. As of 2024 in the U.S., a used EV under $25,000 may qualify for a federal tax credit up to $4,000 (with income and dealer rules), and many new EVs qualify for up to $7,500 at the point of sale.
• Your insurance quotes are reasonable. Some EVs, especially newer or higher-end models, can be costly to insure; shop quotes before buying.

If those boxes are checked, a used Chevrolet Bolt EV/EUV (especially units with recall-replaced batteries) often pencils out as one of the very cheapest vehicles to operate—though resale values and regional charging realities should be part of your calculation.

Practical steps to minimize long-term ownership cost

The car you pick matters, but so does how you buy and maintain it. These steps help lock in savings regardless of the model.

1. Buy lightly used (2–5 years old) to avoid the steepest depreciation, or buy new only if you’ll keep it 10+ years.
2. Favor simple, proven powertrains: non-turbo fours, Toyota/Honda hybrids, or mainstream EVs with strong support.
3. Get pre-purchase inspections for used cars; check service records and any outstanding recalls.
4. Shop insurance quotes before you commit; premiums can negate fuel savings.
5. Follow the maintenance schedule, use quality tires, and align annually; keeping tires inflated and the car aligned saves fuel and rubber.
6. If choosing an EV, confirm your home charging setup and kWh rates; calculate your real per-mile energy cost.

These habits reduce surprises, preserve resale value, and keep the largest cost buckets—depreciation, fuel, and repairs—firmly under control.

What usually isn’t cheapest

Some vehicles are excellent at specific jobs but rarely win on total cost for the average driver.

• Full-size trucks and large SUVs: High purchase price, depreciation, fuel, tires, and insurance.
• Premium/luxury and performance models: Expensive parts, tires, and insurance; rapid depreciation.
• Models requiring premium fuel or with complex turbo/dual-clutch systems—fine when sorted, but often pricier to maintain out of warranty.
• Older EVs without active battery thermal management (for example, certain Nissan Leaf years) in hot climates: Battery degradation can erode range and resale value.

If you truly need towing, hauling, or luxury features, the higher costs may be worth it—but they’re rarely the cheapest long-term choice.

Bottom line

There isn’t a single universal winner for every household, but the pattern is clear: a lightly used Toyota Corolla or Corolla Hybrid—and the Toyota Prius—are top bets for the lowest long-term ownership cost for most drivers. If you can charge at home at a good electricity rate and secure fair insurance, a used Chevrolet Bolt EV with a recall-replacement battery can undercut almost anything on energy and maintenance costs. The cheapest choice for you depends on your mileage, local fuel/electricity prices, insurance quotes, and how long you’ll keep the car.

Summary

For most people, the cheapest car to own long term is a lightly used Toyota Corolla/Corolla Hybrid or Toyota Prius; they pair low depreciation with superb reliability and fuel economy. In the right charging and insurance circumstances, a used Chevy Bolt EV can be even cheaper to run. Choose a simple, efficient model, buy lightly used, verify maintenance history, and shop insurance and energy costs to lock in the lowest total cost over 8–12 years.

What is the cheapest car that lasts the longest?

The cheapest cars known for their longevity are typically used Toyota and Honda models, such as the Toyota Corolla, Honda Civic, and Toyota Camry. These vehicles are recognized for having low maintenance costs, affordable parts, and a strong likelihood of surpassing 200,000 to 300,000 miles with proper care. Consider a used hybrid like the Toyota Prius for added savings on fuel and maintenance.
 
Cheapest and Longest-Lasting Car Models
For budget-conscious buyers looking for a car that will last, consider these models, often found in the used car market: 

• Toyota Corolla: . Opens in new tabA top choice for longevity, fuel efficiency, and affordable parts. 
• Honda Civic: . Opens in new tabAnother reliable and affordable option, known for its long lifespan. 
• Toyota Camry: . Opens in new tabA consistently reliable vehicle that often tops lists for hitting high mileage. 
• Toyota Prius: . Opens in new tabThis hybrid is a win-win, offering excellent fuel economy and low maintenance costs, making it a great choice for long-term, affordable ownership. 
• Honda Accord: . Opens in new tabOften listed among the longest-lasting vehicles, it is a solid choice for long-term reliability. 

Why These Cars Last Longer

• Reputation: Toyota and Honda have strong reputations for building dependable and durable vehicles. 
• Affordable Parts: These models are popular, meaning there’s a wide availability of affordable parts, which keeps repair costs down over the vehicle’s life. 
• Reliable Engineering: Their engineering is often cited as the reason for their ability to last for hundreds of thousands of miles with just basic maintenance. 

What cars will last over 300,000 miles?

• 2009-2014 Ford F-150.
• 2011-2016 Hyundai Elantra.
• 2005-2007 Honda CR-V.
• 2016-2021 Honda Civic.
• 2011-2017 Lexus CT 200h.
• 2002-2006 Lexus ES.
• 2015-2022 Toyota Prius.
• 1997-2001 Toyota Camry. The Camry’s reputation for dependability makes Toyota’s midsize sedan a safe bet to reach 300,000 miles.

What car can I buy for $100 a month?

Latest cars under £100 per month

• SKODA Octavia 2.0 TDI vRS Euro 4 5dr.
• Mazda5 1.6d TS2 Euro 5 5dr.
• Hyundai i10 1.2 Active Hatchback 5dr Petrol Manual Euro 5 (85 bhp)
• Land Rover Discovery 3 2.7 TD V6 XS Station Wagon 5dr.
• Mazda2 1.3 TS2 Euro 4 5dr.
• Nissan Note 1.4 16V Acenta Euro 4 5dr.

Which car is best for long term?

For long-term use, cars from brands known for reliability, like Toyota, Honda, and Lexus, are excellent choices, with models such as the Toyota Camry, Honda Accord, and Toyota Corolla frequently recommended. SUVs like the Toyota 4Runner and Highlander also have a strong reputation for longevity, as do trucks like the Toyota Tundra and Tacoma. 
Top Brands and Models for Long-Term Ownership

• Toyota: Consistently ranks as a trusted brand for longevity, with numerous models like the Camry, Corolla, 4Runner, Highlander, Tundra, and Avalon appearing on lists of the longest-lasting cars. 
• Honda: Another top-tier brand for reliability, with the Accord and CR-V being strong choices for long-term ownership. 
• Lexus: As Toyota’s luxury division, Lexus vehicles, such as the ES and GX, also offer excellent reliability for the long haul. 
• Mazda: Models like the Mazda 3 and Mazda 6 are recognized for their reliability and are a good option for those seeking dependability beyond the major brands. 
• Other Dependable Models: Other vehicles with strong long-term potential include the Hyundai Elantra, and the hybrid options like the Toyota Highlander Hybrid. 

Key Factors for Long-Term Durability

• Brand Reliability: Opens in new tabBrands like Toyota, Honda, and Lexus consistently produce vehicles known for high durability and long service lives. 
• Vehicle Type: Opens in new tabSome vehicle segments, particularly trucks and SUVs like the Toyota Tundra and 4Runner, show a high likelihood of reaching high mileage over their lifespan. 
• Maintenance: Opens in new tabRegular and proper maintenance is crucial for ensuring any car lasts a long time. 

Tips for Selecting a Long-Term Car

• Consider Your Needs: Think about your driving habits, as some models are better for commuting (like the Camry or Accord) while others are built for rugged terrain (like the 4Runner). 
• Research Specific Models: Look into models with proven track records of reliability, such as those with high scores on reliability and longevity studies. 
• Check Vehicle History: When buying used, always review the vehicle’s maintenance records to ensure it has been well-cared for.