- AAA says the annual cost of new vehicle ownership is now $11,577.
- Costs are down $719 from last year thanks to falling gas prices.
- Full-size trucks cost nearly double small sedans at 98.54¢ per mile.
Between inflation, tariffs, and an assortment of other factors, cars have gotten significantly more expensive. However, buyers are finding some unlikely relief as AAA says the total cost of owning and operating a new vehicle has fallen by $719 compared to 2024.
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That’s a pretty significant decline and it brings the total price tag to $11,577, which equates to roughly $965 per month. While that’s still pretty steep, it represents a drop of nearly 6%.
Falling Costs, Changing Trends
AAA attributes the drop to a combination of factors. Lower fuel prices, reduced depreciation, softer finance charges, and an ongoing shift toward more affordable models all contributed to the dip.
More: Gas Prices Are Falling And Could Dip Below $3 Per Gallon
According to the association, the study examined the “five top-selling models in each of nine vehicle categories to calculate ownership costs across a number of areas.” It found the average new vehicle loses $4,334 per year in value, over the first five years, which was less than the $4,680 loss in 2024.
Costs by Vehicle Category
SWIPE
AAA
Electric vehicles did not benefit in the same way as gasoline models. Charging costs rose by nearly a cent per kWh, and higher depreciation, insurance, fees, and financing pushed their overall cost higher. By comparison, gas-powered models enjoyed a dip in running costs, with fuel averaging 13 cents per mile.
Small Cars Lead the Pack
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Among all categories, the study found small sedans were the least expensive as they only cost 55.87 cents per mile to operate. Hybrids were second at 63.94 cents per mile as they have low fuel costs as well as reduced maintenance and depreciation.
Third place was a neck-and-neck battle between medium sedans and subcompact crossovers. The latter barely won out as they cost 66.11 cents per mile versus 66.37 cents for mid-size sedans.
Big Trucks, Big Bills
At the other end of the scale, surprising absolutely no one, full-size trucks were the most expensive to operate at 98.54 cents per mile. Electrics weren’t too far behind at 71.21 cents per mile thanks to their massive depreciation.
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More: These Cars Are Losing Value So Fast It’s Almost Impressive
Thanks to the research, drivers can compare an assortment of different vehicle types with relative ease. If you drive 10,000 miles per year, a mid-size truck would cost you $7,911 annually. Stepping up to a full-size model would increase that to $9,854, which is an extra $1,943 per year. That’s a pretty big difference if you don’t really need half-ton capability.
#Driving #Costs #Cheaper #Good #News
