Car ownership costs an average of $5,851 a year on top of auto loan payments, analysis finds

Car ownership costs an average of $5,851 a year on top of auto loan payments, analysis finds

U.S. drivers spend an average of $5,851 annually on car ownership beyond loan payments, with insurance, fuel, and maintenance representing the largest expenses.

AAA: New Vehicle Ownership Costs Hit $12,863 Annually

The average annual cost to own and operate a new vehicle is $12,863, according to AAA’s newest Your Driving Costs analysis. This reflects the higher cost of fuel, depreciation and finance charges. In response to the growing share of electric vehicles in the new car market, this year’s Your Driving Costs analysis added some popular [...]