Americans may love driving but it comes with a price. Here is a new cost estimate per car from AAA:
Owning a car will cost the average American driver more than $9,100 this year, the AAA has revealed.
The automotive club unveiled its annual study of driving costs on Tuesday and found that the average sedan owner will rack of $0.61 for every mile on the road.
SUV drivers are in for even more pain in the wallet – $0.77 per mile or $11,600 a year.
The AAA estimates include nearly all expenses of taking to the road – from the cost of the car itself to gasoline, tires, insurance and repairs.
The data estimates that Americans drive 15,000 miles a year and drive a standard-size sedan like a Toyota Camry or Ford Fusion…
The survey assumes drivers buy a new car and keep it for five years.
So the figures change a bit depending on what kind of car it is and how old the car is but this is still pretty pricey. The common American cost-benefit analysis might look like this: a car gives me freedom, independence, and the ability to live more where I want to live (based on factors like housing prices and desired community) versus it costs a decent amount to drive. Actually, I suspect few people actually think about the total cost of driving as it tends to be experienced in increments: you fill up for gas here, pay insurance here, pay for repairs another time.