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, an increase of about 60 cents per mile since 2012, according to “Your Driving Costs,” a survey the organisation has released every year since 1950.
The figure varies slightly depending on the kind of car you own. Someone who drives an four-wheel drive SUV is looking at $11,600 in annual costs, while a small sedan costs just $7,000 a year to operate.
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 labour and parts costs and a “major increase in the price of extended warranty policies due to high loss ratios by underwriters,” according to AAA.
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.