{"id":57067,"date":"2023-09-05T08:43:43","date_gmt":"2023-09-05T12:43:43","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/this-is-now-how-much-it-costs-the-average-car-owner-every-month-to-own-and-operate-a-vehicle\/"},"modified":"2023-09-05T08:43:46","modified_gmt":"2023-09-05T12:43:46","slug":"this-is-now-how-much-it-costs-the-average-car-owner-every-month-to-own-and-operate-a-vehicle","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=57067","title":{"rendered":"This is now how much it costs the average car owner every month to own and operate a vehicle"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002462696\" role=\"document\">\n<p>The average car owner spent $12,182 to drive last year, according to a new study from AAA. That figure \u2014 $1,015 a month \u2013 is a sharp increase over 2022\u2019s total of $10,728, or $894 monthly.<\/p>\n<p>AAA\u2019s Your Driving Costs study looks at monthly payments, fuel costs, and depreciation.<\/p>\n<div class=\"paywall\">\n<p>\u201cIt\u2019s important for car buyers to clearly understand the costs associated with owning a new vehicle,\u201d said Greg Brannon, AAA\u2019s director of automotive research. \u201cDue to global supply chain issues and constrained inventory of new vehicles, car prices rose dramatically in 2022. And while the situation continues to improve, the spillover effects are keeping prices high.\u201d<\/p>\n<p>High sticker prices\u00a0and\u00a0high finance costs\u00a0drove the increase.<\/p>\n<p><strong>Read: <\/strong>Wholesale used car prices dropped again\u2014what that means for bargain shoppers<\/p>\n<p>The cost of fueling a gas-powered car actually decreased this year, AAA finds, as gas prices have come down from the highs of last summer. \u201cThis year\u2019s average cost per mile has decreased by roughly 2 cents,\u201d AAA says.<\/p>\n<p>EV owners saw their fuel costs rise by the same two cents, \u201cfrom 13.9 cents per kWh to 15.8 cents per kWh. The increase is likely accounted for by higher-than-expected inflation,\u201d the organization says.<\/p>\n<p><strong>You might like:<\/strong> 10 good used cars models you can get for under $20K<\/p>\n<p>Unsurprisingly, full-size trucks prove the most expensive vehicles to own month-to-month. \u201cPickup trucks excel at hauling and towing, although many buyers do not use them for these purposes. Potential buyers should remember that the unique capabilities of pickups come at a high cost of over $1 per mile,\u201d AAA writes.<\/p>\n<p><em>This story originally ran on\u00a0<\/em><em>KBB.com<\/em><em>.\u00a0<\/em><\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/this-is-now-how-much-it-costs-the-average-car-owner-every-month-to-own-and-operate-a-vehicle-e2a9700b?mod=personal-finance\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The average car owner spent $12,182 to drive last year, according to a new study from AAA. That figure \u2014 $1,015 a month \u2013 is a sharp increase over 2022\u2019s total of $10,728, or $894 monthly. AAA\u2019s Your Driving Costs study looks at monthly payments, fuel costs, and depreciation. \u201cIt\u2019s important for car buyers to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":57068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-57067","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>This is now how much it costs the average car owner every month to own and operate a vehicle | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The average car owner spent $12,182 to drive last year, according to a new study from AAA. 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