Here's What It Costs To Own A Car In The US

Business Insider

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There's nothing cheap about owning a car and new data from AAA hows just how costly it can be to get around in the U.S.

Today's drivers shell out upwards of $10,000 per year, which comes out to about $0.60 per mile, according to "Your Driving Costs," a survey the organization has released every year since 1950.

The figure varies slightly depending on the kind of car you own, and, obviously, how often you drive it. AAA bases its estimates on someone who drives an average of 15,000 miles per year.

For a person behind the wheel of a four-wheel drive SUV, it could cost $11,600 per year to operate, while a small sedan costs just $7,000.

All in all, just about every aspect of car ownership got more expensive this year, from auto insurance premiums to gas and maintenance.

Maintenance costs skyrocketed by 11.3% on average for sedan owners, thanks to rising labor and parts costs and a " major increase in the price of extended warranty policies due to high loss ratios by underwriters," according to AAA.

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And just about everyone followed the peaks and valleys (mainly peaks) of gas prices across the nation last year. Overall, fueling up on regular grade fuel rose 4%, to $3.50/gallon. 

Lastly, insurance premiums saw modest increases of 3%, bringing them to $1,029/year for most drivers. Though it's worth noting  AAA calculated that cost based on a "low-risk" driver with a clean driving record. Speed demons, young people and men likely saw their premiums jump even more.



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