Owning and operating a new vehicle has become increasingly more expensive over the past year, driven predominantly by inflation and rising fuel prices, according to AAA’s annual “Your Driving Costs” report.
The overall average cost to own and operate a new automobile in 2022 is $10,728 on an annual basis, or $894 per month; that’s a considerable increase from 2021, when owning a new car cost $9,666 annually, or $805.50 per month, according to AAA.
That marks a nearly 11 percent increase from last year.
AAA’s report (pdf) looked at 45 models in nine vehicle categories to come up with the average annual cost of owning and operating a new vehicle….