The Average Cost Of Owning A Car

30 05 2013

Dale BertramBack in 1950 when AAA first published “Your Driving Costs” gas was 27 cents a gallon and to drive 10,000 miles a year it cost on average 9 cents a mile or $900. This year AAA says it costs about $9,000 per year which is up 2 percent from last year.

The increase is believed to be due to higher maintenance costs, insurance, fuel and depreciation. The cost of tires was unchanged. The biggest increase was in maintenance which increased 4.97 cents per mile on average for sedan owners (slightly less for small vehicles and more for larger ones). This cost includes labor expenses, replacement part prices and the purchasing of extended warranties.

Aging vehicles also cost more in repairs and as drivers are keeping their vehicles longer, parts are more likely needing to be fixed and/or replaced. Extended warranties are also seeing an increase in claims as of late.

Depreciation costs dropped last year but this year rose a bit by .78 percent to $3,571 a year. AAA feels this is due to the fact that more consumers are buying new vehicles now and that makes used vehicles more available. Insurance costs for a low-risk driver rose as well by 2.76 percent or $28 for an average yearly rate of $1,029.

Of course we can’t forget fuel costs! The increase here was 1.93% or 14.45 cents per gallon for an average sedan. AAA says small improvements in fuel efficiency offset the fuel cost somewhat as regular gas went up 3.84% to $3.49 per gallon on average.

The average age of a vehicle on the roads today is 11.1 years and a lot of this is due to the improvement in the quality of cars, not just for economical reasons. If you are keeping your car longer, keep it well maintained mechanically and keep it washed and waxed and it will give you years of efficient service!

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Fairway Auto Repair

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