Cost of operating a new vehicle rises in 2008
Published April 17, 2008 by CSBJ Staff
The cost of owning and operating a new vehicle is higher in 2008 than 2007, says AAA.
In its 2008 edition of “Your Driving Costs,” AAA said the price of driving a passenger vehicle in the United States increased 1.9 cents per mile in the last year and now averages 54.1 cents per mile.
The organization estimated it will cost $8,121 to own and operate a new passenger car driven 15,000 miles per year. That compares to $7,823 per year in 2007 or 52.2 cents per mile.
Costs for maintenance, full-coverage insurance and depreciation are all slightly lower this year. Costs for fuel, tires, financing, license, registration and taxes, however, showed increases on a national basis.
AAA’s study calculates the average costs of owning and operating five top-selling models in three popular size classes: small, medium and large sedans. The results show that consumers have an opportunity to save substantial sums of money by switching from larger models to smaller vehicles.
Filed under CSBJ Daily