Abstract: Economical toy vehicles powered by stored elastic energy. In one embodiment, an economical toy vehicle includes: a vehicle body; an axle rotatably attached to the vehicle body; a gear integrally affixed to the axle such that rotation of the gear causes rotation of the axle; at least one slotted member integrally affixed to the axle, the slotted member including at least one slot; a hook-pinion assembly characterized by a hook integrally adjoined to a pinion; where the hook-pinion assembly is rotatably attached to the vehicle body; where the pinion is interlockingly engaged with the gear affixed to the axle; and a rubber band detachably attached to the vehicle body on a first end and detachably attached to the hook at a second end, such that the at least one slot can be used to rotate the axle, consequently resulting in the application of a torsional force to the rubber band.