How Much Does It Cost to Own a Car? AAA Says a Little Less, But You Can Save More

AAA car ownership cost survey 2014
If you think that owning your car costs too much money, AAA has some good news for you. The cost of owning a car actually decreased last year, falling to 52.9 cents a mile ($8,876 a year) according to their 64th annual “Your Driving Costs” study. That is 1.64 cents less than the previous year, or a 2.7% decrease in ownership costs. The study bases its numbers on driving 15,000 miles a yea,r and calculates the following costs associated with your vehicle:

  • Depreciation
  • Finance Charges
  • Fuel
  • Insurance
  • License
  • Maintenance and Repairs
  • Registration Fees
  • Taxes
  • Tires

The actual costs depended on they size of the car being driven. These were the operating costs for the different sized c

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One Response to How Much Does It Cost to Own a Car? AAA Says a Little Less, But You Can Save More

  1. Kara says:

    Best way to save on driving is to keep your car for a long time and maintain it well.

    I drive a ’99 Toyota Camry handed down from my father-in-law who bought it new. I do my own maintenance so there’s minimal maintenance costs, no depreciation, low insurance ($25/month from Insurance Panda) and registration costs, no car wash expenses (I park it outside when it’s raining) and people think twice before trying to cut in front of me. It’s a comfortable ride on the highway but is also nimble on dirt roads. I could easily afford a new car but then I’d have to fuss about dents, scratches, car washes and all those other costs. It’s got a 3.1L V6 that achieves 30 mpg on the highway. As long as it continues to pass smog it’s a keeper.

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