Car ownership costs average $5,851 a year before loan payments, analysis finds
Car ownership costs average $5,851 a year for U.S. drivers, Insurify finds See what's driving higher insurance, gas and repair bills—and where you can save
A new analysis from Insurify says U.S. drivers spend an average of $5,851 a year to own and operate a car, not including auto loan payments. The estimate includes insurance, gasoline, and maintenance or repairs, with insurance making up the largest share.
The report comes as multiple vehiclerelated costs have risen since 2019. Insurance premiums are up about 50%, gas prices are roughly 55% higher, and maintenance and repair expenses have also increased, according to data cited in the article.
The story notes that the cost of buying a car has also climbed, with average new and used vehicle prices higher than they were in 2019. It also points out that drivers can face very different insurance rates depending on the car, where they live, and their driving record.