The Real Cost of Owning a Car — US

When buying a new car, don’t just look at the price tag. There’s maintenance, insurance, and the fuel cost per year to consider. We all know that these costs add up, but a few of us know exactly how much it really costs to own a car.

Costs Don’t Stop at Purchase

There are six significant costs when it comes to car ownership.

The Grand Total

The total cost of owning and operating the average car in the US falls between 35 cents per mile to 65 cents per mile over the average lifetime of a car. So, for a $30,000 car, the total cost of ownership over 15 years adds to an estimate $91,200, driven for 202,500 miles, averaging to 45 cents per mile.

Insurance made simple.