AAA: Cost of Car Ownership on the Rise
By ISAAC RIDDLE, NEXT CITYFor car owners, the only good news to come out of this year’s “Your Driving Costs” study, an annual report from AAA, is that the price of tires and tire maintenance has not gone up. But all other costs of car ownership, from gas to insurance, have collectively increased by nearly 2 percent since last year.
Looking at overall maintenance costs, insurance and gasoline prices based on a year of driving 15,000 miles, the study found that the average sedan costs 60.8 cents per mile, or $9,122 a year. When broken down, maintenance costs rose by 11.26 percent, the price of fuel rose by just under 2 percent and insurance costs rose by nearly 3 percent.
SUVs continue to reign in the price department, putting drivers with a penchant for big cars back an average of $11,599 a year. Conversely, small sedans represent the most cost-effective option, at $6,967 a year.
And that’s not even accounting for parking fees and potential tickets.
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