Cost of car ownership rises 2 percent
Beau Boeckmann, vice president of Los Angeles-based Galpin Motors, poses in the company showroom. (March 31, 2009) Credit: AP
Here's some solace for LIRR riders still upset over this year's fare hikes: the cost of car ownership also increased in 2013, by about 2 percent, according to AAA.
The motoring organization's annual "Your Driving Costs" survey, released April 16, calculates the costs of maintenance, fuel, tires, insurance and depreciation on a new vehicle that is driven over five years and 75,000 miles.
It found the average sedan to cost owners about 60.8 cents per mile, up 1.17 cents year-over-year. Based on 15,000 miles of driving that comes out to about $9,122 per annum. Smaller sedans cost about 46.4 cents per mile, larger ones came in at 75 cents per mile, SUVs rang up 77.3 cents per mile and minivans incurred 65.3 cents in costs per mile.
Much of the rise can be attributed to maintenance costs, which AAA said grew in correspondence with prices for labor, parts and extended warranty policies. On the other hand, though gas prices jumped 3.84 percent, they contributed to just a small portion of the growth because vehicles are becoming increasingly fuel efficient.
For more information, check the infographic below (click to enlarge), courtesy of AAA.
