Renting or owning a PHV car. The real monthly difference, after every cost.
A typical Voxy or Stepwgn Spada rents for about $4,200 a month. Owning one costs about $2,700 in instalments. After insurance, road tax and servicing, an owner keeps about $1,100 a month, or $13,000 a year.
Most PHV drivers rent their car. It is easy to start and every cost is bundled into one weekly or monthly payment. The question is what that convenience costs over a year.
Here is the comparison for the two MPVs most PHV drivers ask us about, the Toyota Voxy and the Honda Stepwgn Spada.
The headline numbers
A typical rental for either car is about $4,200 a month, and that includes insurance, road tax and servicing. Owning the same car on a loan works out to an instalment of about $2,700 a month.
That is $1,500 a month apart, but it is not the full picture. When you own the car, you pay the costs that rental used to cover.
After every cost
| Per month | Toyota Voxy | Honda Stepwgn Spada |
|---|---|---|
| Renting | $4,200 | $4,200 |
| Owning, instalment | $2,700 | $2,700 |
| Owning, insurance, road tax and servicing | $378 | $400 |
| You keep | $1,122 | $1,100 |
| Per year | $13,466 | $13,200 |
The yearly ownership costs behind those monthly figures are insurance at about $3,000, road tax of $934 for the Voxy or $1,200 for the Spada, and servicing at about $600 at CarTimes. Fuel costs the same whether you rent or own, so it is left out of both sides.
What the table does not count
- Premium fares. A premium MPV can qualify for higher-paying ride categories on the platforms, so you can earn more per trip. Check each platform's current eligibility rules for the exact model and year.
- Your no-claim discount. On a rental it belongs to the fleet. When you own the car, it builds in your name.
- The car's value. At the end of the loan, the car and its remaining value are yours. Rental payments leave you with nothing.
Spada or Voxy?
Both are safe, spacious and economical. The difference comes down to how you drive.
- Stepwgn Spada. More power. Better if you do longer runs, including trips up the North-South Highway.
- Voxy. More fuel savings. Better if you spend long hours in city traffic.
What it takes to switch
Owning means an upfront amount on collection day and a loan approval. Our current PHV offer and the full figures for both cars are on the PHV page. These numbers are typical examples. Your instalment depends on the car, the loan and your profile, so ask us for your own breakdown before deciding.
Looking at something specific?
Send us the car and we will run these numbers on it before you commit to anything.