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Lowest Cost of Use Award Reveals Economical Vehicles and Cheaper Cars in Consumption, Depreciation, Taxes, and Insurance
In recent years, the Covid-19 pandemic has brought many challenges for consumers seeking to acquire a new car. Prices have risen, waiting lists have lengthened, and many launches have been postponed. However, the Brazilian automobile market has undergone a significant renewal, with manufacturers like BYD and GWM expanding their offerings of electric and hybrid vehicles, forcing competitors to lower prices, according to the website Quatro Rodas.
Despite the fierce competition, automakers have specialists who adjust their vehicle prices to ensure the best cost-benefit. This results in similar values on paper, but a detailed study of cost of use, which includes maintenance, insurance, fuel consumption and depreciation, can reveal significant differences. The Lowest Cost of Use Award, for example, goes beyond the purchase price and analyzes these factors to help consumers choose the car that weighs less on their pocket, that is, which cars are the cheapest.
Cheapest Cars: Hatchbacks with Lowest Cost of Use in 2024
In the hatchback category, the Chevrolet Onix LT MT stands out. Although it is the most expensive among competing vehicles, its low depreciation of only 7.2% – almost half of the other models – ensures significant savings. Anyone selling a manual Onix LT after one year will save about R$ 580 compared to other vehicles.
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The Hyundai HB20, which would be first after the departure of the Renault Kwid, loses value compared to the Onix, despite having cheaper insurance and maintenance. Meanwhile, the Fiat Mobi surpasses the Fiat Argo by a minimal difference of R$ 19/month, thanks to lower IPVA and insurance costs, although the Argo has cheaper servicing and lower depreciation.
Sedans with Lowest Cost of Use in 2024
Among sedan vehicles, the Toyota Corolla XEI leads, despite being the most expensive in the category, with a price of R$ 158,950. Its depreciation is so low that it is four times lower than that of its competitors. This, combined with the brand’s good reputation, facilitates resale.
The Fiat Cronos has remained in the ranking, but its insurance policy and sharp depreciation have caused it to drop positions. The Onix Plus, despite being one of the best-selling vehicles, also loses a lot of value, landing in fifth place. The Volkswagen Virtus, although cheaper than the Corolla, stands out in resale with a depreciation of 11%, close to the Hyundai HB20S, which came in second place due to its lower IPVA.
Cheapest Cars: Compact SUVs with Lowest Cost of Use in 2024
Among compact SUVs, the Fiat Fastback T200 stands out for its lower sticker price and depreciation lower than its competitors, although its maintenance costs are higher. The Nissan Kicks SUV and the Hyundai Creta complete the top three, being the second and third cheapest, respectively, with lower depreciation.
The Volkswagen T-Cross SUV and the Chevrolet Tracker, although having high sticker prices, compensate with cheaper insurance and servicing. Considering that consumers in this category have higher purchasing power, the extra cost of use is justified by the virtues of each model.
Medium SUVs with Lowest Cost of Use in 2024
In the medium SUV segment, the Toyota Corolla Cross XRE leads, standing out for its balance between depreciation, insurance, maintenance, and fuel consumption. The SUV model, with a 2.0 naturally aspirated engine, shows a higher depreciation than the Jeep Compass Longitude 1.3 turbo flex, but compensates with lower insurance and maintenance costs, in addition to more economical consumption.
The Caoa Chery Tiggo 7 Sport, with a competitive price of R$ 134,990, also stands out in the ranking, thanks to its nominally light depreciation of 13% and lower IPVA. The insurance for this model is expensive, but may improve with Caoa Chery’s promise to reduce replacement time and lower parts costs.
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