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How To Calculate the Cost of Owning a Car. An easy way to figure out how much owning a car costs is to use a car cost calculator. All you need to do is add up your regular car expenses, like gas ...
In 2022, the latest year for which statistics are available, AAA estimated that the annual cost of car ownership was $10,728, up from an average of $9,666 the previous year.
Car ownership costs -- including auto insurance -- have increased dramatically in recent years. According to Motley Fool Money research, the average cost of car ownership was $12,078 in 2023.
The yearly depreciation of a car is the amount its value decreases every year. Normally a car's value is correlated with the price it has on the market, but on average a car has a depreciation around 15–20% per year. [12] [13] Depending on market conditions, cars may depreciate 10–30% the first year. [14]
It's also important to factor in the cost of owning a car beyond the sticker price. In 2024, AAA estimated the average annual cost of owning a vehicle – including fuel, maintenance and insurance ...
Without it, they can't get to and from the jobs they need to, well, pay for their car. And even if you're so lucky to live near... Cost To Own a Car for a Year in Every State
Take a closer look at the cost of car ownership. According to Kelly Blue Book (KBB), the average new car price in 2023 was over $48,000 in July. While the company acknowledges that automotive ...
AAA's new Your Driving Cost study shows the average annual cost of new vehicle ownership is nearly $10,000, including depreciation and maintenance. Owning a new vehicle costs nearly $10,000 a year ...
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