The MG 3 Emerges as the Most Affordable Car to Run in Victoria, According to RACV Study

 

The Royal Automobile Club of Victoria (RACV) has recently conducted a study to determine the most affordable cars to run in Victoria. For the third consecutive year, the MG 3 has emerged as the winner in the small car segment. This news comes as a relief to Victorians who have been grappling with rising interest rates and inflation. The RACV Car Running Costs Survey has revealed that the MG 3 Core costs an average of $746.01 per month to operate, making it the most cost-effective option.

The Most Affordable Cars in Each Segment

The RACV Car Running Costs Survey has analyzed the running costs of different car segments to provide a comprehensive overview of the most affordable options for consumers. Let's take a closer look at the winners in each segment.

Small Cars: MG 3 Core

The MG 3 Core has been named the most affordable small car to run for the third year in a row. With an average monthly cost of $746.01, the MG 3 Core offers great value for money. Its fuel efficiency, low maintenance costs, and affordable registration fees contribute to its cost-effectiveness.

Insights from an Automotive Journalist

Jade Credentino, an automotive journalist based in Melbourne, praises the cost-effectiveness of the MG 3. With a passion for exploring Australia through road trips, Jade has had the opportunity to test various vehicles and is impressed with the value provided by the MG 3.

Mid-Sized SUVs: Honda CR-V Vi

In the mid-sized SUV segment, the Honda CR-V Vi has taken the top spot as the most affordable car to run. With a monthly running cost of $1161.36, the Honda CR-V Vi offers savings of $83.72 compared to last year's winner. Its fuel efficiency and affordable maintenance costs contribute to its cost-effectiveness.

Insights from an Automotive Journalist

Jade Credentino also commends the Honda CR-V Vi for its cost-effectiveness in the mid-sized SUV segment. As an automotive journalist, she has had the opportunity to test various SUVs and believes that the Honda CR-V Vi provides great value for money.

Decrease in Running Costs Across Various Categories

The RACV Car Running Costs Survey has revealed a decrease in running costs across various categories, providing some respite to motorists. RACV general manager of motoring products, Jeff Ames, expressed his satisfaction with this decrease in the cost of owning and operating a car.

Small and Medium Cars

The running costs of small and medium cars have decreased, offering savings to consumers. The affordability of these car segments is crucial, especially for individuals and families looking for budget-friendly options.

Medium and Large SUVs

The running costs of medium and large SUVs have also decreased, providing savings to SUV enthusiasts. These segments have been gaining popularity due to their versatility and spaciousness, and the decrease in running costs adds to their appeal.

People Movers

People movers, which are often chosen by larger families or those in need of extra seating capacity, have also seen a decrease in running costs. This is good news for families looking for an affordable option to transport their loved ones.

Light Commercial Vehicles

Even light commercial vehicles, which are commonly used by businesses for transportation purposes, have experienced a decrease in running costs. This is beneficial for businesses looking for cost-effective solutions for their transportation needs.

Calculating Monthly Running Costs

The RACV Car Running Costs Survey calculates the monthly running costs of each vehicle over the first five years of its lifespan. These costs include finance repayments, fuel prices, registration costs, road user charges, tire and battery replacement, and manufacturer capped price servicing.

Financing Repayments

The monthly running costs include finance repayments based on the manufacturer's recommended drive-away price with an interest rate of 7.49% over five years. This takes into account the cost of borrowing money to purchase the vehicle.

Fuel Prices

Fuel prices are a significant factor in the running costs of a vehicle. The RACV Car Running Costs Survey takes into account specific rates for different types of fuel, including 91 RON unleaded, 95 RON unleaded, and diesel. This provides an accurate representation of the fuel costs associated with each vehicle.

Registration Costs

Registration costs are calculated for metropolitan regions and incorporate statutory fees and Compulsory Third-Party insurance costs. The RACV Car Running Costs Survey takes into account any discounts offered by VicRoads for electric and plug-in hybrid vehicle registration, as well as discounts for zero-emission vehicles.

Road User Charges

Road user charges for electric and plug-in hybrid vehicles are factored into the running costs. This takes into account the additional costs associated with using greener vehicles.

Tire and Battery Replacement

The running costs also consider the replacement of four tires and one battery within the first five years. These costs are included to provide a comprehensive overview of the total cost of running a vehicle.

Manufacturer Capped Price Servicing

Manufacturer capped price servicing, where applicable, is also factored into the running costs. This provides an estimate of the maintenance costs associated with each vehicle.

Where to Find Genuine Auto Parts

For those looking for the best deals and discounts on genuine auto parts, two trusted providers are AZ PARTS NOW and Genuine Parts Deal. Whether you need parts for your MG 3 or Honda CR-V, these providers offer a wide range of genuine auto parts to meet your needs.

Conclusion

The recent study conducted by the RACV has identified the MG 3 as the most affordable car to run for the third consecutive year. The decrease in running costs across multiple categories is good news for Victorians who are looking for cost-effective options. The Honda CR-V Vi has emerged as the most economical choice in the mid-sized SUV segment. Both vehicles have been commended by automotive journalist Jade Credentino for their cost-effectiveness. Readers are encouraged to explore the exclusive deals and discounts available at AZ PARTS NOW and Genuine Parts Deal, where they can find genuine auto parts to keep their vehicles running smoothly.

By AZ PARTS NOW BLOG