Cost Of Ownership For 5 Types Of Cars

Driving costs of 5 types of cars

Americans' spending to own and operate their cars has dropped to a 6-year low, thanks to falling gas prices, according to AAA’s 2016 Your Driving Costs study. On average, car owners can expect to spend 57 cents for each mile driven, or about $713 per month. Here are the average costs for each car type, based on driving 15,000 miles annually.

 

Small sedan (Example: 2016 Chevrolet Cruze)

Annual cost: $6,579

• Starting price: $16,120
• Per-mile cost: 43.9 cents

Medium sedan (Example: 2016 Toyota Camry)

Annual cost: $8,604

• Starting price: $23,070
• Per-mile cost: 57.4 cents

 

Large sedan (Example: 2016 Hyundai Genesis)

Annual cost: $10,492

• Starting price: $38,750
• Per-mile cost: 70 cents

4-wheel-drive SUV (Example: 2016 Ford Explorer)

Annual cost: $10,255

• Starting price: $31,160
• Per-mile cost: 68.4 cents

 

Minivan (Example: 2016 Honda Odyssey)

Annual cost: $9,262

• Starting price: $29,400
• Per-mile cost: 61.8 cents

Source: bankrate.com