What's the average cost of owning a car?

by Ehren Patel|01 Dec 2020|Vehicle|Electric Vehicle|525 views
For vehicles driven 15,000 miles a year, average car ownership costs were $8,469 a year, or about $706 a month, in 2017, according to AAA.

Accordingly, what are other maintenance costs of owning a car?

Maintenance
Monthly car loan payment, car insurance premium, fuel, maintenance $900.50
Average monthly maintenance cost $99
Total monthly cost of owning a car $999.50

Beside above, what was the average price of a car in 2020?

18, 2020 /PRNewswire/ -- The valuation analysts at Kelley Blue Book today reported the estimated average transaction price for a light vehicle in the United States was $37,851 in January 2020. New-vehicle prices increased $1,296 (up 3.5%) from January 2019, while falling $806 (down 2.1%) from last month.

What does cost to own mean?

Calculate the Cost of Owning a Car
True Cost to Own® (TCO®) pricing system calculates the additional costs you may not have included when considering your next vehicle purchase. These extra costs include: depreciation, interest on your loan, taxes and fees, insurance premiums, fuel costs, maintenance, and repairs.

How much would a cheap car cost?

Auto experts say the lowest price for a reliable used car is about $2,500. But they're quick to note that every additional $1,000 in your budget will allow you to get a newer car that's been driven fewer miles.

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