AAA put out its Your Driving Costs study, which has been released annually since 1950.
Any idea how much the average US sedan owner is spending per year on operating costs? Would you believe $9,122?!?
That does seem strange, given that Americans are driving 11 year old cars, which should have been paid off years earlier. However, the studys analytics are not based on loan or lease car payments, but on total lifecycle depreciation. The other categories built into the analysis are maintenance, fuel, tires, and insurance.
Aging vehicles does come into play, and that can mean car owners taking on extended warranty coverage. The cost of insurance has gone up, too.
Click here to read details on how AAA does the numbers for its age-old Your Driving Costs study and what was learned this yearThe Article AAA Driving Costs Study Says Car Costing $9,122 per Year appeared first on Automotive Digest.