Hold on to your wallet - driving costs hit 52 cents a mile

The folks at the AAA issued the results of their annual "Your Driving Costs" study Tuesday, and the bottom line isn't pretty - the overall average cost of owning and operating your late model ride in the U.S. is about 52.2 cents per mile, or $7,834 per year, if you drive 15,000 miles.
Triple-A bases its estimates on the all-in costs of owning a new car, including depreciation, finance charges, insurance, registration, maintenance, and, of course, gas prices. Your circumstances may well be different, of course, so the Driving Costs report includes a handy worksheet for you to calculate the bad news yourself.

The full report is available here, and breaks down driving costs for small, medium and large sedans, as well as SUVs and Minivans. The per mile costs vary from a low of 41.7 cents for an average of the five best-selling small sedans, to a high of 65.4 cents for an SUV.

[Source: AAA]

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