Argentina Named The 2nd Most Expensive Country To Own A Car

[Abi Bennetts]

Hi there

Hope you're well? I wanted to get in touch with the findings of a new study, that has revealed Argentina as the 2nd most expensive country to own and run a new car.

Using data detailing average new car costs, in addition to the cost of insurance, fuel and even repairs, the findings were then weighted against average national salaries. The results revealed that on average, buying and running a new car requires more than 5 times the average yearly salary in Argentina, more expensive than the likes of Colombia, Brazil and Russia.

While used cars can of course offer a more affordable alternative, I thought these findings would be of interest? The study also revealed the cheapest countries to run a car, with Australia and the car-centric United States topping the rankings.

If this is of interest, a credit to the source of the research would be much appreciated. If you needed anything else too, just let me know! 

Best,

Abi

The Cheapest and Most Expensive Countries to Own a Car Revealed by New Study 

• Australia is officially the cheapest country to run a car, according to a new study from Scrap Car Comparison  
• The study cross-referenced car costs such as purchase prices, insurance, fuel and repairs against the average salary in each country 
• The car-centric United States ranked as the 2nd cheapest country overall, while the United Kingdom ranked in 9th, below the likes of France and Germany 
• Turkey came out as the most expensive country to run a car 

Australia has been crowned as the most affordable place to own and run a car, according to a new study by Scrap Car Comparison. 

The research analysed average new car costs within each country, in addition to other financial obligations of owning a car, such as insurance and breakdown cover, the price of fuel and even how much repairs could set drivers back. These costs were then weighted against national average earnings to discover how affordable four wheels actually are around the world. 

With a lower average income and comparatively high car purchase prices, Turkey ranked as the most expensive place to own a new motor, above the likes of Argentina, Colombia and Uruguay. While on the other end of the scale, Australia proved to be the country that makes it easiest financially for drivers to get out on the road, ranking as the most affordable place to own a car in the world. 

The Most Affordable Countries to Own a Car 

Country:	% of average yearly salary required to buy and run a car
1. Australia	49.48%
2. United States of America	54.87%
3. Denmark	60.34%
4. Canada	64.40%
5. Sweden	75.84%
6. Germany	78.44%
7. Netherlands	84.65%
8. France	87.00%
9. United Kingdom	89.36%
10. Finland	91.58%

The United States of America, a country where car ownership is a big part of the culture ranked second, with 55% of an American’s annual salary required to purchase and run a new car. Neighbouring Canada ranked just outside of the top three in fourth, while many European countries also placed favourably, with Sweden, Germany and France all proving to be value for money while out on the roads. The United Kingdom, with a slightly higher cost of living, still managed to sneak in the top 10 in ninth. 

Ukraine however ranked as another European country where residents could be priced out of car ownership, just two spots behind Turkey as one of the most expensive countries to own a car. 

The Most Expensive Countries to Own a Car 

Country:	% of average yearly salary required to buy and run a car
1. Turkey	652.29%
2. Argentina	515.77%
3. Colombia	508.93%
4. Uruguay	443.68%
5. Brazil	441.89%
6. Ukraine	413.78%
7. Guatemala	355.94%
8. Russia	290.04%
9. Mexico	285.20%
10. Costa Rica	269.83%

Dan Gick, Managing Director of Scrap Car Comparison commented: “For many, being able to own a car means freedom. It’s your tool for being able to go, see and do what you want, whenever you want – something that has become even more important during the COVID-19 pandemic. 

With this in mind, we wanted to see where it is actually most affordable not only to buy a car, but to run one too, right down to the cost of repairing a fault. Being based in the UK, it was good to see the nation ranking within the most affordable top 10. However, we all still know that purchasing a car is one of life’s biggest outlays, so hope our cost comparison service can help owners get the best return for their old vehicles, and better set them up when it comes to affording a new car”. 

The full findings and further insights can be found on: scrapcarcomparison.co.uk/news/the-most-expensive-place-to-own-a-car/  

ENDS 

Methodology 

Countries where average cost data is readily available for earnings, car price, insurance, repair and fuel were analysed, while countries with no available car cost data for comparison were removed from the study. Car prices were averaged from two popular models, and added to average fuel, insurance and repair costs before being weighed against average yearly salaries, to calculate the final rankings. The results reveal the percentage of each countries’ average yearly salary (per person) required to purchase and run a new car. 

All data correct as of August 2021. Sources used with the research include: 

• Numbeo.com  
• Autocosts.info  

[Abi Bennetts]

Hi there

Hope you're well? I wanted to check whether the story I sent across detailing the cheapest and most expensive places to own a car was of interest at all? If you needed anything else or had any questions on the data, just let me know!

Speak soon,

Abi