The Cost of Car Ownership Declines, says AAA

Car ownershipIt’s music to our ears over here at Advance HQ.

But is it true that owning and operating your car has gotten cheaper? So says a new AAA study.

 AAA released the results of its annual Your Driving Costs study today, revealing a 2.7 percent decrease in the cost to own and operate a sedan in the U.S. The average cost fell 1.64 cents to 59.2 cents per mile, or $8,876 per year, based upon 15,000 miles of annual driving.

“Despite increases in maintenance and registration fees, American motorists are experiencing an overall decrease in the cost to own and operate a vehicle,” said John Nielsen, AAA Managing Director of Automotive Engineering and Repair. “A large decrease in fuel costs, [plus] lower tire, insurance and depreciation expenses are saving owners more than one and a half cents on every mile they drive.”

Here at AAP HQ, we wondered about the fuel costs part of it…do they really seem lower? It turns out that while gas prices haven’t actually tanked, overall they are less than they were in last year’s study, says AAA. Per that, we’ll take what we can get.

The study covers aspects such as fuel, maintenance, tires, insurance and more. You can read more about the study and download the 2014 Your Driving Costs brochure, courtesy of AAA.

And, don’t miss out on great tips for saving gas that you can easily put in place before hitting the road this summer.

 

Speak Your Mind

*