What does it cost to drive your car?
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AAA's 2011 annual “Your Driving Costs” study, revealed a 3.4% rise in the yearly costs to own and operate a sedan in the U.S. The average costs rose 1.9 cents per mile to 58.5 cents per mile, or $8,776 per year, based upon 15,000 miles of annual driving.  This was based on the $2.88 a gallon for gas at that time, so the cost has gone up from there.


  
Cost to drive your car
Fuel costs were based on $2.880 per gallon,
the late-2010 U.S. price from AAA’s Fuel Gauge Report. Fuel mileage is based on
Environmental Protection Agency fuel-economy ratings of 60 percent city and 40 percent highway driving.

Maintenance Costs include retail parts and
labor for normal, routine maintenance as specified by
the vehicle manufacturer. They also include the price of
a comprehensive extended warranty

Tire Costs are based on the price of one set of
replacement tires of the same quality, size and rating as
those that came with the vehicle.

Insurance AAA based its insurance costs on
a full-coverage policy for a married 47-year-old male
with a good driving record,

License, Registration and Taxes
Costs include all governmental taxes and fees payable
at time of purchase, as well as fees due each year
to keep the vehicle licensed and registered. Costs
are computed on a national average basis.

Depreciation is based on the difference
between new-vehicle purchase price and estimated
trade-in value at the end of five years.

Finance Costs are based on a five-year loan at 6
percent interest with a 10 percent down payment. The
loan amount includes taxes and the first year’s license
fees, both computed on a national average basis.		  
While most people are thinking about soaring gas prices, the rising cost of tires was also an important reason behind higher vehicle operating expenses. Tire prices rose 15.7% to 0.96 cents a mile on average for sedan owners. Rising costs for raw materials, energy and transportation have led to notable tire price increases in recent years. Also contributing to higher average tire costs is a trend by automakers to equip their sedans with premium-grade tires as original equipment.

“Despite seeing reduced costs for maintenance and insurance this year, there is an overall increase in the costs to own and operate a vehicle in the U.S. this year,” said John Nielsen, AAA national director of auto repair, buying and consumer programs. “The 2011 rise in costs is due to relatively large increases in fuel, tire and depreciation costs as well as more moderate increases in other areas.”

  

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