Keeping Car on Road: Costs Average in Five-Figure Range, Says AAA
September 23, 2022 6:50AM EDT
COLUMBUS, Ohio (News Talk 1480 WHBC) – This probably isn’t a huge surprise for you.
It costs more to own and operate a new vehicle in 2022.
AAA’s latest Your Driving Costs study has the average annual cost at over $10,700, an 11-percent increase from last year.
Most of that is, of course, gasoline, but other expenses like repairs and financing costs are up too.
The purchase price is not included, but depreciation is.
Electric vehicles have a lower cost of ownership, but not as low as small gasoline-powered sedans.
If you’re considering buying new or used, the auto agency has a new Your Driving Costs Calculator you can use to compare vehicles.
