Matiz is chirpy, chirpy, cheap, cheap

DAEWOO'S Matiz is the cheapest new car to purchase and run over a three-year period, according to a study carried out by the NRMA.

The study shows the Matiz costs an average of $84.61 per week to own, based on an annual usage figure of 15,000km and average petrol price of 77 cents per litre.

Depreciation and interest costs are based on typical market rates while vehicle registration is costed at current NSW rates.

Vehicle maintenance is based on the manufacturers' recommended prices for parts and labor required for routine servicing.

The Matiz costs almost $10 a week less to run than the similarly priced Daihatsu Sirion, largely due to Daewoo's Free Care program which covers all routine servicing for three years.

Further up the scale, the NRMA study shows Holden's Barina City 1.4 ($101.42) is cheaper to buy and run than the Ford Festiva Trio 1.3 ($107.07).

It should be noted, however, that the NRMA figures are based on the vehicles' recommended retail prices. In reality, cars in the bargain-basement segment are often sold at discount prices.

Among medium-sized sedans, Toyota's four-cylinder Camry CSi costs an average of $166.55 per week to run, around 8 per cent less than the Subaru Liberty GX.

The difference is largely due to the Liberty's higher purchase price of $29,990 - compared with $25,740 for the Camry - which leads to higher interest and depreciation costs.

Mitsubishi's Magna Executive 3.5 is shown to be the cheapest large car to run, costing an average of $181.07 per week.

Ford's Falcon Forte costs an average of $192.14 per week, placing it ahead of its arch-rival, the Holden Commodore Executive ($199.56).

The Falcon benefits from its lower price in automatic form even though the Commodore has lower service and repair costs - 2.34 cents/km, compared with 3.59 cents/km for the Falcon.