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You are here: Home / News / AAA Reports Owning a New Vehicle Costs Nearly $10,000 Annually

AAA Reports Owning a New Vehicle Costs Nearly $10,000 Annually

August 19, 2021 By CollisionWeek Editor

According to the latest research from AAA, the average annual cost of new vehicle ownership is $9,666, or $805.50 per month. The biggest factor pushing the nearly $10,000 annual price tag is depreciation. It accounts for 40% of all ownership expenses outpacing additional costs like fuel and maintenance. With low inventory at dealerships due to the semi-conductor chip shortage, AAA urges new car buyers to be aware of all the expenses associated with ownership so that they can negotiate the best deal for their budget.

“Consumers have to remember the expense of owning a car goes far beyond the monthly

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

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