After factoring in the costs of financing, insurance, licensing, registration, taxes, maintenance, repairs and gas for dozens of different makes and models, AAA analysts found that the average cost for a 2018 vehicle is about 59 cents per mile for someone who drives 15,000 miles a year.
This year’s annual report emphasizes the hidden cost of depreciation which can account for about 40 percent of the cost of owning a new vehicle, or about $3,000 a year.
The AAA report calculates a range of vehicles and mileage for owners who go 10,000, 15,000 or 20,000 miles a year. The Federal Highway Administration says the average driver goes about 13,500 miles a year.
Read the article at The Washington Post.