Annual new-car ownership costs boil over $12,000
Ownership costs driven by record
vehicle prices, high finance rates
(September 7, 2023) ORLANDO, Fla. — AAA’s Your Driving Costs (YDC) has been a reliable data source for the expenses associated with owning and operating a brand-new vehicle for more than seven decades. Based on the latest figures, the average cost of owning and operating a new vehicle in 2023 has increased significantly, with an annual expense of $12,182 or a monthly cost of $1,015. This is a sharp increase from 2022 when the average yearly cost was only $10,728, or $894 monthly.