Owning and maintaining a car costs more today than it did in 1950. When AAA put out its first ‘Your Driving Costs’ report 63 years ago, a car that was driven 10,000 miles per year cost its owner 9 cents per mile. Fast-forward to 2013 and AAA’s latest study finds that the average sedan’s ownership costs are up to $9,122 per year or 60.8 cents per mile, assuming you drive 15,000 miles annually. That ...
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Car Ownership Costs Increase to More Than $9,100 Annually
Owning and maintaining a car costs more today than it did in 1950. When AAA put out its first ‘Your Driving Costs’ report 63 years ago, a car that was driven 10,000 miles per year cost its owner 9 cents per mile. Fast-forward to 2013 and AAA’s latest study finds that the average sedan’s ownership costs are up to $9,122 per year or 60.8 cents per mile, assuming you drive 15,000 miles annually. That ...
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Auto Repair Costs are on the Rise
Your car is getting more expensive to fix, at least according to the 2013 CarMD Vehicle Health Index. The study found that for the first time in six years, the average repair cost rose 10 percent to $367.84 on 1996 to 2012 model year vehicles. Replacement part prices went up six percent in 2012, while labor charges rose 17 percent. CarMD says that the Northeast region saw the largest increase, with the cost of repairs rising by 11.56 ...
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One in Four Can't Afford Vehicle Repairs
According to AAA, more than half of American drivers are keeping their vehicles for the long haul. That’s a smart move because repairs, monthly payments and gas prices make cars expensive investments. But there is another caveat to AAA’s study: Drivers are also avoiding repairs, a trend that is a result of a tough economy.
“One in four American drivers could not pay for a car repair of $2,000 if faced with one today, according to the ...
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