Shocking: Hungary in Top 10 most expensive countries to own a car

Car sharing parking lots Budapest budapest airport
Photo: PrtScr/FB/Greengo

Hungary is officially revealed as the 10th least affordable country in the world to own a car in, according to new research.

The new study by Scrap Car Comparison has analysed average new car costs, as well as additional costs of owning a vehicle including insurance, breakdown cover, fuel and even repairs, and cross-referenced this with the average yearly salary in every country to reveal the destinations where it’s most expensive to own a vehicle.

The Top 10 Most Expensive Countries to Own a Car


Rank  
Country  
% of average yearly salary required to buy and run a car    

1  
Turkey  
697%  

2  
Colombia  
493%  

3  
Brazil  
491%  

4  
Argentina  
459%  

5  
Ecuador  
394%  

6  
Costa Rica  
318%  

7  
Uruguay  
301%  

8  
Romania  
254%  

9  
Mexico  
248%  

10  
Hungary 
248% 

Read also:

  • Hungarian fuel prices reach record high: government will reintroduce price caps? – Read more HERE
  • Unexpected announcement: M1 Budapest-Vienna motorway will become three-lane!

The Cheapest and Most Expensive Countries to Own a Car Revealed in New Research  

  • Scrap Car Comparison has revealed the most and least expensive countries to own a car by analysing costs such as purchase price, insurance, fuel and repairs
  • The United States ranks as the cheapest country to run a car, with car purchase and ownership costs equating to just 46% of the average American annual salary
  • Türkiye was identified as the most expensive country to own a car, followed by Colombia and Brazil

New research from Scrap Car Comparison has analysed car ownership costs in 98 countries, delving into various factors contributing to car ownership costs, including the average cost of a car, fuel prices, insurance, breakdown cover, and average repair costs. These costs were then weighted against national average earnings to discover how much it costs to own a car worldwide. 

The results showcase a vast contrast in the affordability of car ownership, with the US emerging as the most budget-friendly nation, followed by Australia and Canada. Meanwhile, Turkey is the most expensive country to own a car, requiring almost seven times the average Turkish annual salary to cover all costs of owning and maintaining a vehicle. 

The Top 10 Most Affordable Countries to Own a Car  


Rank  
Country  
% of average yearly salary required to buy and run a car    

1  
United States  
46%  

2  
Australia  
57%  

3  
Canada  
64%  

4  
Netherlands  
74%  

Source:

Tags