What’s the Most Affordable Car to Own?

In the U.S. as of late 2025, the Mitsubishi Mirage and Nissan Versa typically deliver the lowest five-year total cost of ownership among new cars, thanks to low purchase prices and frugal fuel use; for many shoppers, however, a lightly used compact like a Toyota Corolla or Honda Civic can be even cheaper overall once depreciation is factored in.

What “affordable to own” really means

Ownership cost is more than the sticker price. Total cost of ownership (TCO) adds up depreciation (what the car loses in value), fuel or electricity, insurance, maintenance and repairs, taxes/fees, and financing. Industry studies across 2024–2025 show those combined expenses have climbed—insurance premiums and interest rates in particular—pushing the average new-vehicle ownership cost well above $12,000 per year. The cheapest vehicles to own minimize both upfront price and day‑to‑day running costs while avoiding big value drops.

The current standouts for low ownership cost

Mitsubishi Mirage

The Mirage remains one of the lowest-cost new cars to buy and run. Its modest purchase price and excellent fuel economy (EPA-rated near 39 mpg combined) keep cash outlay down, and insurance is typically reasonable. A basic Mirage can deliver an estimated five-year TCO in the high‑$20,000s to low‑$30,000s at 12,000 miles per year, assuming typical fuel prices and financing. Trade-offs include slower acceleration, fewer amenities, and lower refinement than larger compacts. Availability can also be limited by region, and industry chatter suggests U.S. sales could wind down after the current model cycle, so check local inventory.

Nissan Versa

The Versa is another consistent bargain. It’s slightly roomier and more refined than most remaining subcompacts, with strong fuel economy (mid‑30s mpg combined) and one of the lowest MSRPs in the market. Over five years, many owners see total costs in the upper‑$20,000s to low‑$30,000s, depending on insurance, location taxes, and whether you choose a manual or CVT. The Versa’s higher feature content and safety tech versus some rivals can make it the better value if you plan to keep the car longer.

Also worth a look

If you can spend a bit more upfront, compact sedans like the Toyota Corolla (especially the Corolla Hybrid), Kia Forte, Hyundai Elantra, and base Honda Civic often hold their value better, feel more substantial on the highway, and still sip fuel. Their five‑year TCO typically lands a few thousand dollars higher than the Mirage/Versa, but their stronger resale and broader dealer support can narrow the gap, particularly if you buy certified pre‑owned or negotiate well.

When an EV can be the cheapest to own

Electric vehicles can undercut gas cars on energy and maintenance—home charging is usually cheaper per mile than gasoline, and EVs avoid oil changes and many wear items. But higher purchase prices and insurance can offset those savings, and incentives vary by state and by model eligibility. In markets with generous point‑of‑sale rebates or attractive leases, an entry-level EV can end up with a lower monthly and five‑year effective cost than a budget gasoline car, especially for drivers with home charging and higher annual mileage. The math depends on your utility rates, driving pattern, insurance quote, and local incentives.

Approximate five-year cost ranges for budget-friendly choices

The following ranges reflect typical five-year ownership at around 12,000 miles per year, mainstream insurance profiles, average fuel prices, and standard financing. Your results will vary by state taxes/fees, credit tier, and driving profile, but these benchmarks help compare options on the same footing.

• Mitsubishi Mirage: approximately $26,000–$32,000 total over five years
• Nissan Versa: approximately $27,000–$33,000 over five years
• Kia Forte or Hyundai Elantra (base trims): approximately $32,000–$38,000 over five years
• Toyota Corolla Hybrid: approximately $33,000–$39,000 over five years
• Lightly used 2–4‑year‑old compact (e.g., Corolla/Civic): approximately $24,000–$31,000 over five years, assuming lower depreciation
• Entry‑level EV with strong lease/rebates and home charging: sometimes approximately $28,000–$36,000 effective over five years

Think of these as starting points: insurance quotes, local pump or electricity prices, and how you finance can easily swing totals by several thousand dollars.

How to minimize your real‑world ownership cost

Regardless of the model you choose, a few practical moves can lower what you spend over the life of the car more than any single feature or spec sheet.

1. Cross‑shop new and lightly used: A 2–4‑year‑old compact often beats a brand‑new subcompact on TCO due to slower depreciation.
2. Get insurance quotes before you buy: Rates vary drastically by trim, safety gear, and ZIP code—sometimes the “cheaper” car isn’t cheaper to insure.
3. Choose efficient trims and tires: Base engines and low‑rolling‑resistance tires cut fuel costs without major trade‑offs.
4. Mind financing: A lower APR or shorter term can save thousands versus focusing only on the monthly payment.
5. Keep up with maintenance: Tire pressures, alignment, and fluid changes pay back in fuel economy, longevity, and resale value.
6. Leverage incentives and dealer programs: EV rebates, loyalty/college/military offers, or low‑APR promos can materially change TCO.
7. Avoid expensive options that don’t hold value: Big wheels and premium audio rarely return their cost at resale.
8. Negotiate out‑the‑door: Compare total drive‑off price, not just MSRP—fees and add‑ons can erase a great deal.

Stacking a few of these strategies can narrow the gap between classes and make a better car just as affordable to own as the cheapest one on paper.

Methodology notes

This guidance reflects late‑2025 U.S. market conditions, using typical 12,000‑mile annual driving, current MSRPs and EPA fuel economy, and industry TCO patterns reported by long‑running studies (such as AAA’s Your Driving Costs, Kelley Blue Book 5‑Year Cost to Own, Vincentric, and Consumer Reports). Because insurance, fuel/electricity, taxes/fees, and financing vary widely by location and buyer profile, shoppers should localize the math with real quotes.

Bottom line

If you’re buying new, the Mitsubishi Mirage and Nissan Versa are generally the cheapest cars to own over five years. If you’re open to lightly used, a well‑kept compact like a Toyota Corolla or Honda Civic can be cheaper still once depreciation is accounted for. And in specific markets with strong incentives and home charging, an entry‑level EV lease can undercut both. The “most affordable” car is ultimately the one that best fits your driving, insurance, and financing reality.

Summary

The most affordable car to own in the U.S. right now is typically the Mitsubishi Mirage or Nissan Versa for new‑car buyers, with five‑year totals commonly in the high‑$20,000s to low‑$30,000s. Lightly used compacts often beat those figures, and favorable EV incentives can shift the calculus for some households. Running your own numbers—purchase price, insurance, energy, maintenance, and financing—will identify the truly cheapest option for you.

What is the most affordable vehicle to own?

The “best vehicle for the money” varies by need, but top recommendations for 2025 include the Honda Civic (compact car), Honda Accord (midsize car), Kia Soul (subcompact SUV), Hyundai Elantra Hybrid (hybrid car), and Toyota Tacoma (midsize pickup truck), among others, which consistently offer a strong blend of affordability, reliability, and features. For the most value, consider vehicles like the Nissan Versa for a subcompact option or the Chevrolet Trax for an affordable SUV.
 
Here are some of the top contenders for “best for the money” by category for 2025: 

• Best Compact Car for the Money: 2025 Honda Civic
• Best Midsize Car for the Money: 2025 Honda Accord
• Best Compact SUV for the Money: 2025 Hyundai Tucson
• Best 3-Row SUV for the Money: 2025 Kia Telluride
• Best Hybrid Car for the Money: 2025 Hyundai Elantra Hybrid
• Best Hybrid SUV for the Money: 2025 Kia Sportage Hybrid
• Best Electric SUV for the Money: 2025 Hyundai Kona Electric
• Best Minivan for the Money: 2025 Honda Odyssey

Other great value options:

• Toyota Corolla: A reliable and affordable small car option. 
• Mazda Mazda3: Another strong contender in the compact car segment known for reliability and value. 
• Chevrolet Trax: Praised as an excellent execution of basic, affordable transportation. 
• Ford Maverick: Offers the value of a brand-new pickup truck with impressive fuel economy. 
• Nissan Versa: Recognized as the least expensive new car available, providing a lot of value for its price point. 

What car can I buy for $25,000?

Sort By:

• 2025 Nissan Versa. SV. MSRP $22,835.
• 2026 Chevrolet TrailBlazer. LT. MSRP $27,775.
• 2025 Nissan Sentra. SV. MSRP $24,125.
• 2025 Nissan Kicks. Play S. MSRP $23,850.
• 2026 Buick Encore GX. Preferred. MSRP $29,975.
• 2025 Hyundai Venue. SEL. MSRP $24,885.
• 2025 Nissan Kicks. SV. MSRP $25,595.
• 2025 Buick Envista. Preferred. MSRP $26,685.

Which is the best affordable car to buy?

Comments Section

• Maruti Suzuki Wagon R: This hatchback is a crowd favorite for good reason.
• Tata Tiago: The Tiago is another solid option.
• Hyundai Grand i10 Nios: This hatchback is known for its plush ride, spacious interiors, and lots of features to keep you entertained.

What car is the most affordable to maintain?

What Cars Are Cheapest to Maintain?

• Toyota Corolla.
• Toyota Prius.
• Honda Fit.
• Mitsubishi Mirage.
• Toyota Yaris.
• Honda Civic.
• Nissan Sentra. The Nissan Sentra is another budget-friendly sedan that’s both dependable and relatively cheap to maintain.
• Mazda 3. The Mazda 3 is the company’s first entry on this list.