After factoring in the costs of financing, insurance, licensing, registration, taxes, maintenance, repairs and gas for dozens of different makes and models, AAA analysts found that the average cost for a 2018 vehicle is about 59 cents per mile for someone who drives 15,000 miles a year. That’s based an average price at the pump of $2.52 per gallon.
This year’s annual report emphasizes the hidden cost of depreciation. Depreciation can account for about 40 percent of the cost of owning a new vehicle, or about $3,000 a year.
The AAA report calculates a range of vehicles and mileage for owners who go 10,000, 15,000 or 20,000 miles a year. The Federal Highway Administration says the average driver goes about 13,500 miles a year.
Read the article at The Washington Post.
The post AAA Annual Report Finds Vehicle’s Actual Costs Average $5,960 A Year appeared first on Fleet Management Weekly.
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