AAA says it costs more than $12.8K to own, operate a new car each year

AAA says the average annual cost to own and operate a new vehicle is $12,863, or $1,071.92 per month, based on an analysis that assumes five years and 75,000 miles of ownership. That figure is up from last year’s $11,577 ($964.78 per month), though AAA cautions that changes in methodology prevent a direct year-to-year comparison. AAA estimates depreciation accounts for $4,422 in value loss per year. It also breaks out costs such as license, registration and taxes at $802 annually, maintenance/repairs/tires at 11.7 cents per mile, and fuel at 17.3 cents per mile for a 12-month period ending May 26. Smaller sedans rank lowest by cents-per-mile.