Even GPT3.5 can be much more expensive. In some specific tasks, a finetuned 7B llama can work as well as GPT3.5.
You can rent a 3090 at $0.20/h on vast.ai, or $0.40/h on runpod. Using VLLM at 400t/s that's 1440000 generated tokens. Generating that amount of tokens with GPT3.5 would be $2.88.