Car Costs Accelerate Again

According to the annual “Your Driving Costs” report issued by the AAA in Orlando, Fla., it now costs an average 60.8 cents per mile or $9,122 annually to own and operate a typical family sedan. That’s a 1.96 percent jump over last year’s average, based on 15,000 miles of annual driving. While many motorists might blame rising fuel prices for the increase, maintenance and repair bills actually shot up the most among all ownership factors, rising by 11.26 percent over the past year. The AAA says this was due largely to increases in labor and part costs for some models and a major jump in the price of extended warranty policies due to high losses incurred by underwriters. Small sedans remain the least-costly models to own, with annual average expenses of $6,967 or 46.4 cents per mile. The costliest rides on the road are four-wheel-drive SUVs, at an average $11,599 a year or 77.3 cents per mile.