{"id":13359,"date":"2018-01-01T20:22:12","date_gmt":"2018-01-02T02:22:12","guid":{"rendered":"http:\/\/www.paristn.net\/articles\/?p=13359"},"modified":"2018-01-01T20:22:12","modified_gmt":"2018-01-02T02:22:12","slug":"aaa-reveals-true-cost-of-vehicle-ownership","status":"publish","type":"post","link":"https:\/\/www.paristn.net\/articles\/2018\/01\/01\/aaa-reveals-true-cost-of-vehicle-ownership\/","title":{"rendered":"AAA Reveals True Cost of Vehicle Ownership"},"content":{"rendered":"

\"AAA\"Orlando, FL<\/strong> – Owning and operating a new vehicle in 2017 will cost a driver an average of $8,469 annually, or $706.00 each month, according to a new <\/em>study from AAA. The annual evaluation of driving costs reveals that small sedans are the least expensive vehicles to drive at $6,354 annually, however small SUVs ($7,606), hybrids ($7,687) and electric vehicles ($8,439) all offer lower-than-average driving costs to U.S. drivers.<\/p>\n

\"Average<\/a>

Average new vehicle will cost nearly $8,500 annually to own and operate.<\/p><\/div>\n

<\/p>\n

Conversely, of the nine categories included in the evaluation, pickup trucks are the most expensive vehicles to drive at $10,054 annually.<\/p>\n

\u201cDetermining the cost of a new vehicle car is more than calculating a monthly payment,\u201d cautioned John Nielsen, AAA\u2019s managing director of Automotive Engineering and Repair. \u201cWhile sales price is certainly a factor, depreciation, maintenance, repair and fuel costs should be equally important considerations for anyone in the market for a new vehicle.\u201d<\/p>\n

In addition to analyzing the ownership costs for sedans, SUVs and minivans, AAA\u2019s Your Driving Costs<\/em> study added four new vehicle segments in 2017 \u2013 small SUVs, pickup trucks, hybrids and electric vehicles.<\/p>\n

\n\n\n\n\n\n\n\n\n
Vehicle Type<\/strong><\/td>\nAnnual Cost*<\/strong><\/td>\n <\/strong><\/td>\nVehicle Type<\/strong><\/td>\nAnnual Cost*<\/strong><\/td>\n<\/tr>\n
Small Sedan<\/td>\n$6,354<\/td>\n <\/td>\nMinivan<\/td>\n$9,146<\/td>\n<\/tr>\n
Small SUV<\/td>\n$7,606<\/td>\n <\/td>\nLarge Sedan<\/td>\n$9,399<\/td>\n<\/tr>\n
Hybrid<\/td>\n$7,687<\/td>\n <\/td>\nMedium SUV<\/td>\n$9,451<\/td>\n<\/tr>\n
Medium Sedan<\/td>\n$8,171<\/td>\n <\/td>\nPickup Truck<\/td>\n$10,054<\/td>\n<\/tr>\n
Electric Vehicle<\/td>\n$8,439<\/td>\n <\/strong><\/td>\nAverage<\/strong><\/td>\n$8,469<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

*Based on 15,000 miles driven annually<\/em><\/p>\n

To estimate the overall cost to own and operate a new vehicle, AAA evaluated 45 2017 model-year vehicles across nine categories and focused on mid-range, top-selling vehicles. AAA\u2019s annual driving cost is based on a sales-weighted average of the individual costs for all of the vehicle types. Key findings include:<\/p>\n

Depreciation<\/h3>\n

Depreciation \u2014 the declining value of a vehicle over time \u2014 is the biggest, and most often overlooked, expense associated with purchasing a new car. New vehicles lose an average of $15,000 in value during the first five years of ownership. In 2017, small sedans ($2,114) and small SUVs ($2,840) have the lowest annual depreciation costs, while minivans ($3,839) and electric vehicles ($5,704) are at the high end of the scale.<\/p>\n

Maintenance and repair<\/h3>\n

To calculate annual maintenance and repair costs, AAA examined factory-recommended maintenance, replacement tires, extended warranty costs and services associated with typical wear-and-tear.<\/p>\n

[320left]New vehicles, on average, will cost a driver $1,186 per year to maintain and repair.<\/p>\n

The inevitable costs associated with maintenance and repair should be an important consideration for car shoppers, as a recent AAA survey<\/a> found that one-third of U.S. drivers could not afford an unexpected repair bill.<\/p>\n

AAA Approved Auto Repair facilities offer free vehicle inspections, AAA member discounts and a 24-month\/24,000-mile warranty for AAA members. Visit AAA.com\/AutoRepair<\/a> to find a nearby facility.<\/p>\n

Fuel<\/h3>\n

Fuel costs vary significantly by vehicle type, ranging from 3.68 cents per mile (electric vehicles) to 13.88 cents per mile (pickup trucks). New vehicle owners, on average, will spend just over 10 cents per mile \u2013 about $1,500 annually \u2014 to fuel their vehicles.<\/p>\n

For gasoline-powered vehicles, AAA recommends selecting a TOP TIER gasoline, as its independent research<\/a> found it to keep engines 19 times cleaner, improving vehicle performance and fuel economy. AAA cautions drivers that using premium-grade gasoline in a vehicle that does not specifically require it is an unnecessary expense<\/a>.<\/p>\n

Electric Vehicles<\/h3>\n

New to the Your Driving Costs<\/em> study in 2017, AAA found that electric vehicles have lower-than-average driving costs at $8,439 per year. Without a gasoline engine to maintain, electric vehicles have the lowest annual maintenance and repair costs, at $982 per year.<\/p>\n

By relying on electricity instead of gasoline, fuel costs are also significantly lower than average, at under four cents per mile. Depreciation, however, is currently extremely high for these vehicles, losing an average of nearly $6,000 in value every year.<\/p>\n

A recent AAA survey<\/a> revealed that 1-in-6 Americans are likely to choose an electric vehicle, the majority motivated by their lower long-term ownership costs.<\/p>\n

\u201cAlthough electric vehicles can have higher up-front costs, lower fuel and maintenance costs make them a surprisingly affordable choice in the long run,\u201d said Nielsen. \u201cFor even lower costs, car shoppers can avoid high depreciation costs by selecting a used electric vehicle.\u201d<\/p>\n

[320right]With a focus on the future, the AAA Green Car Guide offers ratings of electric, hybrid, compressed natural gas\u2010powered (CNG), diesel and other high fuel economy vehicles. Visit AAA.com\/greencar<\/a> for more.<\/p>\n

AAA\u2019s Your Driving Costs <\/em>study employs a proprietary methodology to analyze the costs of owning and operating a new vehicle in the United States, using data from a variety of sources, including Vincentric LLC. Additional information and detailed driving costs, including insurance costs, finances charges, registration\/license fees, taxes and finance charges can be found at NewsRoom.AAA.com<\/a> or AAA.com\/YourDrivingCosts<\/a>.<\/p>\n

About AAA<\/h3>\n

As North America\u2019s largest motoring and leisure travel organization, AAA provides more than 57 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax-paying AAA has been a leader and advocate for the safety and security of all travelers. Motorists can map a route, identify gas prices, find discounts, book a hotel and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com\/mobile<\/a>. AAA clubs can be visited on the Internet at AAA.com.<\/p>\n","protected":false},"excerpt":{"rendered":"

Orlando, FL – Owning and operating a new vehicle in 2017 will cost a driver an average of $8,469 annually, or $706.00 each month, according to a new study from AAA. The annual evaluation of driving costs reveals that small sedans are the least expensive vehicles to drive at $6,354 annually, however small SUVs ($7,606), hybrids […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[17],"tags":[1361,4301,7622,5957,9481],"class_list":["post-13359","post","type-post","status-publish","format-standard","hentry","category-community","tag-aaa","tag-auto-repair","tag-depreciation","tag-electric-vehicles","tag-orlando-fl"],"_links":{"self":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/13359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/comments?post=13359"}],"version-history":[{"count":1,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/13359\/revisions"}],"predecessor-version":[{"id":13360,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/13359\/revisions\/13360"}],"wp:attachment":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/media?parent=13359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/categories?post=13359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/tags?post=13359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}