start exploring

Owning A New Car Costs More Than $900

Want a new car? Ownership costs are way up, so plan to spend about $900 a month on it

The average cost to own and operate a new car in 2022 has soared about 11% since last year to $10,728 per year (just under $900 per month), according to AAA's annual "Your Driving Costs" report.

The report factors in costs such as fuel, depreciation, insurance and maintenance to find total annual operating expenses. 

"You're usually focused on the purchase price and that is not the whole story. Not even close," said Greg Brannon, director of automotive engineering for AAA. 

"I think ($10,000 is) a number that will surprise a lot of people." The study, released earlier this month, does not account for used car prices. 

The average cost to own and operate a new car in 2022 has soared to $10,728 per year, according to AAA.

While regular gas prices have been dropping since mid-June, they remain elevated compared to previous years. 

For More Information!

Click Here