Each year, AAA looks at the cost of driving a sedan in the United States and whether or not those costs have increased. Based on things like insurance premiums, automotive maintenance and auto repairs, and even fuel prices, they help drivers to learn the true cost of car ownership and what to expect for that year. After looking at their most recent data, it seems that the true cost to own a vehicle has once again risen – 1.96 percent to be exact.

As if owning a vehicle wasn’t a huge enough investment already, it seems that most of the items associated with owning a vehicle have increased as well. For example, AAA reports that the average costs rose 1.17 cents per mile to 60.8 cents per mile or the equivalent of $9,122 per year based on 15,000 miles of driving! Fuel is up 1.93%, car maintenance is up even more to 11.26%, there was hardly any change to the cost of tires, insurance has gone up 2.76% and depreciation up .78%. These may not seem like much as far as percentage goes, but when you convert it to dollars – something we all hate to part with – the true cost of car ownership makes more sense. That increase in insurance? That is $1,029 per year. Depreciation? $3,571 per year!

We can no longer think of the cost of vehicle ownership in terms of what we pay for the vehicle, or your monthly payments, and maybe a few repairs here and there along the way. There are way too many other factors which are increasing, as AAA pointed out. The average price of a new car in America tops $33,000, according to car-buying site Kelley Blue Book, so buying a vehicle is a major financial move. For an average vehicle that’s driven 15,000 miles a year, all costs of ownership added up to $9,122 a year, according to AAA’s 2015 Your Driving Costs study. That’s about $760 a month give or take. Yikes!

So how can we balance this increase with our already-huge investment? One of the best ways to maintain your investment is to take care of it, and this means preventative maintenance. Following a service interval schedule can save you a lot of money over time. Plus, a vehicle properly maintained, and kept three years after your payments end, will save you $20,000 to $30,000. That is a lot of money that you don’t want to spend on auto repairs. We also try to keep our costs down, and our service high, so that you keep coming back to us. We know that vehicles are expensive, but your repairs don’t have to be outrageously expensive. Quality parts and service means you’ll get the most for your money. How can we help you?