Golf Cart Cost: New, Used, Rental, Depreciation Rate, and More

If you’re new to the world of golf carts, you’re in for a treat.

Golf carts are really useful on the course, but they can also be used in a ton of different settings.

You can drive your cart around the neighborhood, on large properties, or just take a ride down the street.

In fact, a lot of small businesses use golf carts because of how versatile they are.

However, whatever your reason for getting a golf cart is, before you purchase one, you’ll probably be wondering, “how much does a golf cart cost?”

In general, a new golf cart will cost between $6,000 and $15,000 while the price of used golf carts is in the $3,000 to $11,000 range. The price you pay for a golf cart will depend on things like how many seats it has, which brand it is, and how many customized features have been added to the cart. 

This post will take an in-depth look at what factors go into the upfront cost of a golf cart as well as any additional costs you might run into. 

Then, we’ll help you decide if you should buy a new or used cart or if you would be better off just renting. 

Let’s get started! 

Table of Contents

What Determines the Price Tag of a Golf Cart?

There are a lot of factors that play into the price of a golf cart. In fact, it’s a lot like shopping for a car.

Things like the year, brand, and model will determine the cost.

Another factor is the size of the cart and the additional accessories you get.

Ultimately, there’s a golf cart on the market for everyone’s needs.

Let’s look at what goes into the price tag of a golf cart, then we’ll learn about the costs of ownership.

Model Year

This might be one of the more obvious categories that drive the cost. We all know that newer things cost more than older things.

The good news is that golf carts don’t lose their value as quickly as you might think. We’ll get into this idea later, but for now, just keep in mind that it isn’t a huge factor.

It’s also important to understand that although newer carts cost more, they have fewer maintenance costs associated with them.

Brand

The brand of your golf cart could be a big deal, especially when it comes to the price.

Three of the biggest brands you’ll see are Yamaha, Club Car, and E-Z-GO.

They’re such popular brands because they’re reliable, durable, and great carts to own.

Model

Just like with car manufacturers, each golf cart brand offers different models for different customers.

The costs of these models span the whole price spectrum. They have lower-end models that are more budget-friendly, and higher-end models that are more luxurious and refined.

Within the same brand, you can easily find two models that are separated by more than $5,000.

Each model is specifically built to target a certain price point for a certain customer. The differences between the two models could be very significant, so it’s important to take a close look at what the cart includes.

Size

The next thing to keep in mind is the size of the golf cart you’re looking for.

The more seats the cart has, the more it’ll cost.

You can choose between a 2, 4, or 6-seat golf cart. The price difference between a 2 and a 6-seater is around $5,000.

Accessories

It’s worth noting that each model has a different package of accessories. The good news is you can also add your own accessories after you purchase the cart.

Accessories can be items that make the cart more comfortable or safe. On the flip side, there are also accessories that just make the cart look cooler or more fun to drive.

Here are a few different accessories that might come with your cart, or you can add afterward. We’ll add a rough cost for the parts of each accessory on a 2-seater golf cart.

Paint Job – $250-1,000

The first aesthetic upgrade you can add is a fresh paint job.

If you don’t like the color scheme of the cart you bought, it’s not a problem.

Seat Belts – $100

Some golf carts don’t come standard with seat belts. You can quickly add them on your own afterward to improve safety.

This is great if you have children who are going to be riding in the cart.

Enclosures – $300-800

Golf carts are mostly open vehicles. This isn’t a problem until the weather stops cooperating.

To keep the rain out, you can add an enclosure to your golf cart and have better comfort while driving.

Lights – $400

If you are going to take your cart on the road you need headlights and brake lights to make it street legal.

Otherwise, if you find yourself driving a lot when it’s dark it’d be helpful to add some lights. You can also add a light bar to the roof for additional night visibility.

For aesthetics, you can add lights to act as under glow for your cart.

Wheels – $700

Depending on the conditions you’ll be driving in, you might want different wheels.

You can find more rugged wheels that are better equipped for off-roading.

Likewise, you can pick up wheels that look sportier or more fun for an aesthetic upgrade.

Heater / AC – $200 ea

If you’ll be taking the cart out in uncomfortable temperatures, it might benefit you to grab some heaters or an AC unit.

These are another easy after-market upgrade, and they work great.

Seat Covers – $150

To keep the weather out of your seats you can have covers added.

Windshield – $150

Another addition to your golf cart you can make is a windshield.

This will keep bugs, dirt, rain, and debris out of your face while you’re driving.

It will ultimately boost the comfort and quality of your golf cart.

Lift Kit – $300

For off-roading in your golf cart, you might find a lift kit is essential.

It’ll get the bottom of your cart further away from the rock, brush, and water you drive through.

Steering Wheel – $100

If you’re looking for a more ergonomic and sportier steering wheel, there are a ton of after-market products available.

Mirrors – $70

Your cart may or may not come with side mirrors. These are required for the cart to be driven on the street, and you can quickly add them yourself if you need to.

Cup Holders – $100

Another bit of convenience you can add to your cart is a cup holder.

You might be surprised to see that your golf cart doesn’t come standard with one!

Turn Signals – $75

If you’re looking to take your cart on the open road, you’ll definitely need turn signals.

A lot of golf carts don’t come with turn signals unless they’re specifically made to be street legal.

They can be purchased afterward and installed yourself, or you can go to a shop and have them added.

Glove Box – $150

Not only can you add cargo boxes to your golf cart, but you can also add a lockable glove box.

This is great to keep your belongings safe when you’re not in the golf cart.

Audio Systems – $300

To make your ride more enjoyable, you can opt to add or upgrade the audio system.

You can include a CD player and nice speakers – just be sure to be mindful of other golfers!

Adding an aftermarket overhead speaker isn’t too hard. A lot are easy to install, battery-operated, and Bluetooth.

What Are the Costs of Owning a Golf Cart?

After you purchase the golf cart, there are additional costs associated with owning the golf cart.

Just like with any other vehicle you own, you’ll have to pay for insurance, replacement parts, fuel, and repairs.

Insurance

You need to make sure you have an insurance policy on your cart if you drive it off the course.

A typical standalone policy won’t be more than a couple hundred a year.

If you have a speed-modified cart, it will be pricier.

Repairs

Another part of owning a vehicle is having repairs done.

Unfortunately, things are going to break on your cart.

Make sure you know what the expected repair costs are for the cart you’re looking to buy.

Once a year you’ll want to take your cart to a pro for them to check it out.

If you want to take on the repairs yourself, that’s not a problem, just make sure you know what you’re doing or you have help from someone who does!

Parts

If you like to turn your own wrench, you’ll have to consider the parts costs.

The mechanical and electrical systems of a golf cart are a lot easier to work on than an automobile. This means a lot of people like to do the fixes themselves.

Doing the fixes yourself is a lot less expensive than taking your cart to a specialty shop.

Fuel

If you opt for a gas-powered golf cart, keep in mind that you’ll have to factor in the fuel costs.

Gas-powered golf carts get much fewer miles per gallon than your everyday car, but they’re also driven much shorter distances.

You can calculate your weekly fuel cost if you know a few things: your golf cart’s expected miles per gallon, how many miles you’ll drive a week, and what the gas price is.

You can expect to pay a lot less to refuel your golf cart than your everyday car. This is just another cost you’ll want to keep in mind.

Should You Buy an Electric or Gas-Powered Golf Cart?

One of the first big decisions you have to make is what kind of cart are you looking for? If you didn’t know, you have an option for either an electric- or gas-powered cart.

The gas-powered carts use a combustion engine and require oil and fuel to operate.

The electric-powered carts run on a battery and require you to charge the cart between uses.

Price and Availability

Gas-powered carts are usually more expensive than their electric counterparts, and they’re also harder to come across.

It seems that there are a lot more people selling their electric carts and keeping their gas ones.

This means that the market is heavy with second-hand electric golf carts, so they’re more readily available.

In this regard, you might lean towards electric golf carts if you’re looking to keep the price down.

Power and Durability

Both types of golf carts have comparable power and durability.

In the olden days, electric carts would underperform and break easier. However, newer electric carts can be identical to their gas-powered brethren.

That’s to say that both types of carts can go up hills and go equally fast.

Pollution from the Carts

You’ll find when you use a gas-powered cart, you’ll get a lot of residual gas smell.

Not only is this harmful to the environment, but it could also be dangerous to your health if you use the cart inside a large warehouse building. It also means that wherever you store the cart will always have a gas smell associated with it.

Electric carts don’t have this problem. They’re the green option when it comes to running a golf cart.

Noise Level

Without getting into the science of why, it’s sufficient to say that electric carts are significantly quieter than carts with an engine – just compare the noise of a Tesla to a pickup truck.

If you’re using this cart in quiet areas, you might lean towards an electric option.

Maintenance

The final consideration is the maintenance that goes into either type of cart.

Gas-powered golf carts need to be refueled regularly. They also need oil changes routinely.

These carts will also need engine-related maintenance at certain intervals – if you can’t do it yourself then you’ll have to go to a golf cart repair shop.

Electric-powered golf carts need to be charged before each use. Water levels in the battery need to be routinely checked, usually once a month is good enough.

Every 5 years or so you’ll need to replace your battery pack. This process is easy enough and there’s a ton of information online to help you during every step of the process.

For ease of maintenance, we’d lean towards electric carts.

Verdict

The technology of electric carts has improved a lot over the past decade or two.

Nowadays, electric carts are less expensive, more available, have comparable power, less pollution, they’re quieter, and they’re easier and cheaper to maintain.

That’s not to say that there’s anything wrong with gas-powered carts.

They’ve been the industry standard for a long time, for a lot of good reasons. They’re reliable and don’t depend on being charged beforehand.

How Much Does It Cost to Rent a Golf Cart?

The answer to this question isn’t as straightforward as you would think. Depending on your needs, the price will be higher or lower than average.

Additionally, the same factors that drive the cost of a golf cart (described in the earlier section “What Determines the Price Tag of a Golf Cart?”) also drive the daily cost of a rental.

Things like the size, how many accessories are included, as well as the year, brand, and model all change the daily price to rent a golf cart.

On top of that, whether the cart is electric or gas-powered will also change the rental price.

The price also fluctuates depending on which company you use for the rental, which region of the country you’re in, and what season you’re renting. 

Small companies in small towns during the slow season are typically the lowest possible price.

So let’s see what kind of time frames we can rent a golf cart for.

Rental Period Options

Everyone has a different need for a rental cart.

You might need it for a few hours, days, weeks, or even months. Luckily, there’s a rental period for everyone!

Most companies offer pricing for daily, weekly, and monthly use. You’ll find that the price per day of a monthly rental is significantly lower than a daily rental.

Some golf cart rental companies even offer hourly rentals that appeal to people who are just looking for quick usage.

Below are some quoted costs of renting a golf cart so we can see how it compares.

Example Cost to Rent a Golf Cart

In this example, we received different quotes for different uses based on our location and time of year.

A 2-seat cart is $50 a day, a 4-seat is $70 per day, and a 6-seat is $110 a day.

The same 2-seat cart rents for $80 for the weekend, $150 for a week, and $320 for a month.

To rent the cart from the company we inquired, there’s an environmental fee of 1.3% of your total cost, delivery and pickup cost of a couple of hundred dollars each, and state tax. 

There are also wear-and-tear fees, costs for charging the cart, and an additional price per mile over the allowed mileage.

Now if we look at the 2-seat cart, we notice the price goes up as we add accessories. Another $20 a day if we want a utility box. Adding lights and a windshield is another $15 a day.

The gas variations of each cart cost $20 more a day, and getting a 2-seater with a flatbed is another $10 daily.

You’ll notice that there’s so much variation with this price and a lot of things have to be considered. 

Ultimately, some decisions have to be made about which luxuries you’d like and how big of a cart you need.

If you have four people in your group, you’ll notice that it’s less expensive to rent a 4-seat golf cart as opposed to two 2-seat golf carts. 

The same can be said for a 6-seat golf cart.

Should You Buy or Rent Your Golf Cart?

This is a very important question when it comes to using a golf cart.

The answer will differ from person to person, and it depends on a few key factors.

For example, when you rent a golf cart you pay daily for using it. You cannot modify it and you return it once you’re done using it.

There are pros and cons to renting a golf cart.

Price of Renting a Golf Cart

This is probably the deciding factor for most people. Since you have to pay for daily use, it all depends on how often you plan on using the golf cart.

A rough estimate is that it’ll cost less than $100 a day to rent a cart. On the other hand, it will cost thousands of dollars to buy the same golf cart, plus ongoing costs. For the sake of argument let’s say it’s $5,000 to buy a golf cart.

You have to decide if it makes financial sense to rent or own based on your specific usage.

Let’s say you plan on using the cart one day a month. That’s $1,200 a year for renting a cart.

In four years, the cost of renting the cart will be $4,800 – nearly the same as if you bought the cart!

In this scenario, after the 4th year, it’s cheaper to own the cart and before the 4th year, it’s cheaper to rent the cart.

That being said, if you rent more than one day a month, then you’ll see it becomes more favorable to own the cart.

If you are planning on using the golf cart more casually, then renting might be the right option for you.

Ability to Use the Cart

When you want to rent a golf cart you have to go to whichever company you’re renting from and do the paperwork.

This usually includes some form of liability agreement that states that they are not responsible for any injuries that might occur while operating their golf carts.

This means you can’t just jump in and drive a golf cart if it’s a rental. You need to do some planning beforehand.

If you own the golf cart, you can drive it whenever you want to.

Storage of the Cart

Storage is another key factor. You need to have the room and the ability to store the golf cart if you own it.

This means you need a garage or additional space on your property to keep your golf cart.

If you don’t have a place to keep the cart, then renting might be the better option for you.

Maintaining the Golf Cart

Another reason you might opt to rent a golf cart is if you want to avoid maintaining it.

You won’t have to worry about turning wrenches when it comes to renting a cart.

Should You Buy a New or Used Golf Cart?

If you’re in the market for a golf cart, this is one of the most important questions you can consider.

The answer to the question follows the same logic as buying a new or used car.

The new golf cart will be much more reliable and trustworthy than a used one.

Additionally, you can pick out a custom accessory package from the manufacturer instead of hoping to get lucky while searching for used carts.

For most new carts you can also pick out which color you’d like.

New golf carts will also be covered under manufacturing warranties. You can be sure that they’ve never been in an accident so everything will work perfectly.

When it comes to buying a used cart there is an aspect of rolling the dice.

If the former user abused the cart, you’ll be getting an inferior cart.

On the other hand, the cost savings can’t be ignored. Buying a used cart is a lot less expensive than buying a new cart.

If you compare a new and used version of the same cart, you’ll realize it’s hundreds or thousands cheaper to go with the used option.

The next sections will cover the actual costs of new and used carts so we can see the difference.

The Price of a New Golf Cart

As mentioned earlier, there’s a lot that goes into picking a golf cart. Let’s take a look at some different carts that target different parts of the market.

You’ll notice the difference that the brand and size make to the price, as well as if the cart’s gas or electric-powered.

All prices are rough estimates based on market research.

Gas

  • 2-seater 2020 EZ-GO TXT Valor – $7,300
  • 4-seater 2020 EZ-GO Valor – $7,500
  • 2-seater 2020 Yamaha PTV – $8,500
  • 4-seater 2020 Yamaha Drive2 PTV – $9,300
  • 4-seater 2020 Club Car Onward – $10,500
  • 4-seater 2020 Yamaha Adventurer Sport – $12,000
  • 6-seater 2020 Yamaha Concierge 4 – $13,000
  • 6-seater 2020 Club Car Onwards (Lifted) – $15,000

Battery-powered

  • 2-seater 2020 EZ-GO Freedom – $6,000
  • 4-seater 2020 EZ-GO Express – $8,000
  • 2-seater 2020 Club Car Onward – $8,500
  • 4-seater 2020 Club Car Onward (Lifted) – $13,600

The Price of a Used Golf Cart

If you’re looking for a used golf cart instead, let’s see what kind of price ranges we’re working with here.

These price estimates are rough and have a lot of factors that play into them.

Gas

  • 2-seater 2013 Yamaha Gas – $3,700
  • 2-seater 2014 EZ-GO Gas – $3,800
  • 4-seater 2012 EZ-GO RXV – $4,000
  • 2-seater 2012 EZ-GO Freedom RXV – $4,300
  • 2-seater 2016 Club Car Precedent Gas – $5,000
  • 4-seater 2013 Yamaha YDRA 4P SL – $5,400
  • 4-seater 2017 EZ-GO TXT – $6,300
  • 4-seater 2014 Yamaha Street Legal Gas – $6,900
  • 4-seater 2016 Club Car Precedent Gas – $8,400

Battery-powered

  • 2-seater 2017 Club Car Precedent – $3,000
  • 2-seater 2014 Yamaha Electric – $3,300
  • 4-seater 2015 Yamaha YDRE 4P LP – $4,900
  • 4-seater 2014 EZ-GO TXT Electric – $5,000
  • 4-seater 2013 Club Car Precedent i2 Excel – $5,500
  • 6-seater 2018 EZ-GO S6 Electric – $11,000

Golf Cart Depreciation Rate Over Time

From the above section, you’ll probably realize that there’s some sort of depreciation rate when it comes to golf carts. The older carts are less expensive than the newer ones.

People often cite a depreciation value of 8.3% annually for golf carts. A depreciation value means how much of the total cost is lost each year.

In other words, if your cart’s depreciation value is $1,000, it means that you can sell it for $1,000 less than what you bought it for.

This means that in 5 years, your cart will lose 35% of its total value.

Comparatively, a regular car will lose around 50-60% of its total value in this same time frame.

Let’s look at an example to see how your cart’s value will change yearly.

Say we got a good deal on a 4-seater Club Car Onward and we pay $10,000 today. This is what the approximate resale value will be each of the next 10 years:

Age of Golf CartValue of Golf Cart
0 years$10,000
1 year$9,167
2 years$8,403
3 years$7,703
4 years$7,062
5 years$6,473
6 years$5,934
7 years$5,440
8 years$4,987
9 years $4,571
10 years$4,191
Golf Cart Depreciation Rate Chart

So in 10 years, the cart will lose 58% of its total value and will be worth just $4,191.

These values will change if you make changes or upgrades to the cart during those 10 years.

There are a few reasons why golf carts depreciate:

Mileage

The more miles your cart has, the less valuable it is.

Your cart will depreciate slower if you put fewer miles on it.

Condition

The condition of your cart’s interior and exterior will lead to depreciation.

There’s no avoiding it; if you use your cart, you will worsen the condition of it.

New Technologies

Your cart will depreciate as the market introduces newer technology in the golf cart world.

This is another unavoidable reason that leads to the depreciation of your cart.

Damages

Finally, there are damages that occur over time.

The older the cart is, the higher the chance of damage to different components.

The Takeaway…

Overall, there’s a lot of things to consider when it comes to buying a golf cart.

Whatever reason you have for buying the cart, there is a golf cart for you.

You have to decide if you want a gas or electric golf cart.

Next, do you want to rent it or own it?

If you want to own the cart, you have to think about whether you want a new or used golf cart.

When you buy the cart, just remember that it is depreciating each year that you own it – whether you use it or not.

All of these considerations will ultimately make sure you pick the perfect cart for your needs.

Armed with this information, you’re ready to go pick out your golf cart!

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