As Volkswagen would say, on the road of life, there are passengers and there are drivers. True. But its getting a heck of a lot more expensive to be a driver.
High gas and tire prices have driven up the costs to own and operate a sedan 1.9 percent over 2011, according to AAA’s annual driving costs study.
A car owner who drives 15,000 miles per year will pay an average of $8,946 to own, maintain and insure a motor vehicle in 2012, the automotive club said. SUV drivers will pay $11,360.
Those costs would have been even higher, according to AAA, but for one bright spot: depreciation for used motor vehicles fell 5 percent, likely due to a reduction in new car sales during an economic slump of several years which has resulted in a relative shortage of good used cars on the market. That’s good news for car owners, who can expect better offers for their used vehicles.
Perhaps unsurprisingly, fuel costs had the largest year-over-year increase, up 14.8 percent to 14.2 cents per mile on average for sedan owners. Although gasoline prices rose 16.6 percent, a rise in the number of vehicles with better fuel economy helped to lessen the impact.
At the same time, tire costs rose 4.2 percent over 2011 as a result of higher costs for natural rubber and an increase in the cost of oil used in tire production.
Modest increases in insurance and maintenance costs also drove up expenses for drivers.
A breakdown of costs for specific motor vehicles is available at select AAA offices and on the club’s web site.
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