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You are here: Home / News / AAA Reports Annual Cost of Vehicle Ownership Rises to $9,282 on Higher Financing Costs

AAA Reports Annual Cost of Vehicle Ownership Rises to $9,282 on Higher Financing Costs

September 12, 2019 By CollisionWeek Editor

It’s going to cost more for those looking to buy a new car this year. Finance costs on new car purchases have jumped 24% in 2019, according to new AAA research, pushing the average annual cost of vehicle ownership to $9,282, or $773.50 a month. That’s the highest cost associated with new vehicle ownership since AAA began tracking expenses in 1950 and a reminder that the true costs of owning a vehicle extend far beyond maintenance and fuel.

2019 AAA Cost of Vehicle Ownership by Vehicle Type “Finance costs accounted for more than 40% of the total increase in average vehicle ownership costs,” said John Nielsen, AAA’s managing director

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Filed Under: News Tagged With: AAA, Vehicle Ownership Cost

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