Learn true costs of driving

Learn true costs of driving

When you take into account your license, registration, gas, taxes, maintenance and more, owning a car can be a more expensive proposition than you might have first thought. How much does it really cost to own and drive your car each year? How much does it cost per mile?

Savvy consumers determined to know how much they are paying to drive their vehicles can look to a new study from AAA (Automobile Association of America), the country's largest motoring and leisure travel organization.

The 2006 edition of AAA's "Your Driving Costs" study shows the overall average cost of owning and operating a passenger vehicle is 52.2 cents per mile, which equals $7,834 per year based on 15,000 miles of driving.

"AAA's research shows that driving a new vehicle that retains a high resale value and has moderate insurance costs, can help offset other costs such as fuel and tires," said John Nielsen, director, AAA Approved Auto Repair and Car Buying Services.

The purpose of AAA's annual study is to show consumers how to understand and calculate the full costs of owning and operating their vehicles. Only by factoring in all of the related costs of driving can consumers accurately budget for their future expenses.

To conduct its study, AAA used detailed driving costs for small, medium and large sedans. Though not part of the AAA composite average, SUV and minivan information is also included in "Your Driving Costs" to help buyers estimate operating costs for these types of vehicles.

Consumers may obtain copies of A A A' s "Your Driving Costs" from many AAA club offices and online on the Internet at www.aaa.com/ publicaffairs.

This story provided by StatePoint Media, Inc.