US: study shows car operating and ownership costs decrease image

According to a new study released by the US motorist association AAA, the cost of owning and operating a car could bring a pleasant surprise, as it’s forecasted to dip slightly.

The organization’s “2014 Your Driving Costs” research shows that an average vehicle would bring rather hefty yearly costs – of around $8,876, but on the other hand this figure would be 2.7% smaller than the average cost registered in 2013.

“A large decrease in fuel costs, and lower tire, insurance and depreciation expenses are saving owners more than one and a half cents on every mile they drive,” said John Nielsen, AAA Managing Director of Automotive Engineering and Repair.

Total costs usually associated with an average American motorist that would drive for 15,000 miles each year would come to 59.2 cents per mile, which is a decrease of 1.64 cents from last year.

Also, as is always the case, what you drive actually has a big impact on your annual costs – with the average figure of $8,876 being for the “average” sedan. At the lower end of the spectrum we could have a small sedan that typically averages 46.4 cents per mile – reaching a total of $6,957. If we go for the usual all-wheel drive SUV, the costs go up significantly, reaching an average of 73.6 cents per mile, or $11,039.