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Why is the average cost of car ownership $12,000? In its 2024 Your Driving Costs study , researchers at AAA found the average new car in America sells for $38,883. But the sticker price is not the ...
This report showed an annual increase from January 2023 to January 2024 of 6.5 percent for motor vehicle maintenance and repair, while the average cost of car insurance increased by more than 20 ...
According to Motley Fool Money research, the average cost of car ownership was $12,078 in 2023. Just 10 years earlier, in 2013, car ownership only cost $8,467. ... USA TODAY Sports.
Transportation once came with relatively basic costs. Not anymore: the average price of a new car in the U.S. has skyrocketed to $50,000 — just $9,000 less than the average annual salary ...
The yearly depreciation of a car is the amount its value decreases every year. Normally a car's value is correlated with the price it has on the market, but on average a car has a depreciation around 15–20% per year. [12] [13] Depending on market conditions, cars may depreciate 10–30% the first year. [14]
Alabama. Total costs for one year of ownership: $24,190. Annual gas: $1,983. Average insurance: $1,860. Despite costs being lower in Alabama than other states, the average cost of car repairs here ...