Owning, operating a car is now costing more - KWWL - Eastern Iowa Breaking News, Weather, Closings

Owning, operating a car is now costing more


It's becoming more costly to own and operate a vehicle, according to a new AAA report.  The average costs rose 1.9 cents per mile to 58.5 cents per mile, or $8,776 per year, based upon 15,000 miles of annual driving.

Contributing to the increase is the cost of tires.  Tire prices have jumped 15.7 percent to 0.96 cents per mile on average for sedan owners.  The rise in costs of raw materials, energy and transportation has led to notable tire price hikes.  Also contributing to higher average tire costs is a trend by automakers to equip their sedans with premium grade tires as original equipment.

And of course, climbing gas prices impact the cost to own a vehicle, too. Even though more people are driving fuel efficient vehicles, it's not been enough to offset the rise in gas prices which caused fuel costs to increase 8.6 percent to 12.34 cents per mile on average for cars.

There is some good news though.  Both car maintenance and insurance costs have reportedly fallen this year. 

Powered by Frankly