Autonomous vehicles are sought to be integral in smart cities. However, should those vehicles be equipped with high-cost sensors? Would the use of low-cost sensors on autonomous vehicles makes them effectively workable over a long period of time? The question of how effective low-cost sensors can be for the proper functionality of autonomous vehicles is addressed in this paper. We have built a small-size prototype of an autonomous vehicle, where low-cost sensors were employed. Then, we have done experimental tests on the vehicle and its sensors, with the features of object detection and response through collision avoidance, traffic lights detection and adequate response, lane detection and lane-keeping response, and end of route detection and stopping response. Our experimental results show that low-cost sensors perform well with carefully-prepared road conditions, but they can be a challenge for operation on real-world roads. Based on our testing experience and on the faced challenges, we share our findings as well as our recommendations with the research community. Therefore, this paper provides insights toward reliable and workable real-world low-cost autonomous vehicles.