Cost of driving up 2% since 2012, says AAA

Cost of driving up 2% since 2012, says AAA

The cost to own and operate an average sedan is now 60.8 cents a mile, up 2 percent since last year, accordingly to AAAs 2013 Your Driving Costs study. Assuming the average driver goes 15,000 miles a year, thats a yearly cost of $9,122. Changes in maintenance, fuel and insurance costs drove the increase.

The AAA study gives a range of yearly costs, from $6,967 for a small sedan to $11,599 for a 4-wheel-drive SUV.

Maintenance saw the biggest increase, growing 11 percent to 5 cents a mile for the average sedan owner. AAAs estimates are based on the cost to maintain a vehicle and perform needed repairs for five years and 75,000 miles, including labor, parts and an extended warranty. Last year saw a significant increase in labor and parts costs for some models and a major increase in the price of extended warranty policies.

Fuel costs rose less than 2 percent, which was partially offset by improvements in fuel economy for several vehicles. Average insurance costs for sedans rose less than 3 percent to $1,029 annually. Estimates are based on a low-risk driver with a clean driving record.