PHOENIX — The average cost to own and operate a sedan is down nearly 3 percent from last year, according to AAA.
That means it costs about $8,876 per year to drive your car, which translates to $250 less than last year. That estimation is based on 15,000 miles of driving.
Michelle Donati with AAA Arizona said there are several factors for the first decline in nearly four years, including lower gas prices.
“When you look at 2013 as a whole and how we’ve been trending in 2014, gas prices are about 10 percent lower,” she said.
Tire prices have also dropped 3 percent from last year, while depreciation decreased from $3,571 last year to $3,510 in 2014.
Donati said insurance rates are also lower than a year ago.
“For the purpose of this study, we used a driver with a clean driving record, driving a small-to-midsize sedan,” she said. “And for this driver, insurance costs were down about 0.6 percent from last year.”
Only maintenance costs have risen this year, up about 2 percent over 2013.
Drivers of SUVs and minivans are also seeing savings of $560 and $42, respectively, from last year to 2014.
- Sunscreen facts that could save your life
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Water tips to save money, help save the Earth
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food
- 5 spring cleaning spots everyone forgets
- 5 reasons to look forward to watching the D-backs this season
- Common virus attributed to spike in head and neck cancers
- 5 signs it’s time to end your timeshare ownership
- 3 most overlooked ways to keep your home healthy
- 6 ways the air in your home could be making you sick
- CrossFit dangers: 5 common injuries and how to deal with them
- Today's radiation treatments offer better success, fewer side effects
- Tips to make watching TV on the patio even better
- What really happens when you donate to a community college?
- Sun and skin cancer: Separating fact from fiction
- 5 critical lifestyle changes for a healthy colon
- What you need to know about Alzheimer's disease in Arizona
- Spring clean your windows like a pro with these 8 tips
- 7 films that should have won best-picture Oscars
- New plumbing technology saves money and improves your home
- Survey shows Arizona CFOs optimistic about 2016
- How chronic pain can affect your love life
- 5 potential warning signs about your child's development