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Average New Vehicle to Cost Nearly $8,500 Annually, Says New Study

Thursday, August 24, 2017

 

Owning and driving a new vehicle in 2017 will cost drivers an average of $8,469 annually, or $706  each month, according to a recent study completed by AAA.

See the Graphic Below

“Determining the cost of a new vehicle car is more than calculating a monthly payment. While 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,” said John Paul, AAA Northeast Senior Manager of Traffic Safety.

Cost of Vehicle Ownership

The study shows that small sedans are the least expensive vehicles to drive, costing $6,354 annual. However small SUVs ($7,606), hybrids ($7,687) and electric vehicles ($8,439) all offer lower-than-average driving costs to U.S. drivers.

Pickup trucks are the most expensive vehicles to drive at $10,054 annually.

Estimating the Cost

AAA evaluated 45 2017 model-year vehicles across nine categories and focused on mid-range, top-selling vehicles. AAA’s annual driving cost is based on a sales-weighted average of the individual costs for all of the vehicle types. 

 

Related Slideshow: The 10 Most Stolen Cars in Massachusetts

Prev Next

#8

Make: Honda

Model: CR-V

Year: 1998

# of Thefts in 2014: 86

Prev Next

#7

Make: Ford

Model: Explorer

Year: 1999

# of Thefts in 2014: 100

Prev Next

#6

Make: Jeep

Model: Cherokee/Grand Cherokee

Year: 1999

# of Thefts in 2014: 123

Prev Next

#5

Make: Nissan

Model: Altima

Year: 2013

# of Thefts in 2014: 158

Prev Next

T - #4

Make: Toyota

Model: Corolla

Year: 2013

# of Thefts in 2014: 184

Prev Next

T - #4

Make: Ford 

Model: Pick-Up (Full Size)

Year: 2004

# of Thefts in 2014: 184

Prev Next

#3

Make:  Toyota

Model: Camry

Year: 1999

# of Thefts in 2014: 202

Prev Next

#2

Make: Dodge

Model: Caravan

Year: 2000

# of Thefts in 2014: 209

Prev Next

T - #1

Make: Honda

Model: Civic

Year: 1998

# of Thefts in 2014: 615

Prev Next

T - #1

Make: Honda 

Model: Accord

Year: 1996

# of Thefts in 2014: 615

 
 

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