Cost Of Owning A Car Way Up

CHICAGO (CBS/WBBM) — It’s getting more expensive to own a car.

As WBBM Newsradio 780’s Regine Schlesinger reports, the finding comes from a new study by AAA.

LISTEN: Newsradio 780’s Regine Schlesinger reports

The study of driving costs finds a 3.4 percent hike in what it costs to drive a sedan. Based on 15,000 miles of driving a year, the average cost rose 1.9 cents a mile to $8,776 per year.

The average cost for driving a sedan was 58.5 cents a mile, CBS 2’s Kris Habermehl reports.

For sport-utility vehicles, the figures are even more alarming. The annual cost is $11,239 per year, or 75 cents per mile.

The biggest increase is the cost of tires, which is up 15.7 percent because of costs for raw materials.

While many cars are getting better fuel economy, the study says the rising cost of gas is wiping out the savings, and your car is depreciating 5 percent faster than it has in the past.

The only cost to fall is insurance and maintenance.

  • Carr Mann

    It is better to ride Metra trains. This days everything is going up and up and the salaries are not going anywhere. Instead they are trying to get rid of us as quickly as they can. Car dealers are making tons of money and they are not reducing the price of a Cadillac or any Volvos around.
    We wanted to buy a Subary and the price was way up high. The monthly payments were ridiculous so we decided to get a used car instead. But this used cars too are high enouhg and the breakdowns are very often. The car mechanics must be making lots of money too. This used cars are no good at all. Towing is getting so up … sky high… I am telling you..

    • Reply to Car Man

      Car Man…. Are you a 3rd grader? You sure write like one.

  • Bike it !

    Summer is almost here. I say bike where you can. It’s great for your health so its a win win situation.

  • Carr Mann Shouldn't be driving

    The insurance companies are raising rates too. But people like Carr Mann are the ones to blame for that. Those with a mind of a 5 year old should not be behind the wheel.

    I can’t imagine why somebody who writes as eloquently as Carr Mann doesn’t have a 6 figure job that would provide him with a nice Volvo or “Subary” as a company car.

  • Jim

    Public transportation should raise their rates accordingly. I’m paying for my car, gas, etc. and they pay a couple bucks a day. If they doubled the current rates it would still be cheaper than owning a car and the people using the system can pay for it themselves. Unfortunately I am unable to take public transportation to work or I would!



  • franklin808

    I’m going to buy an electric car.

    • Johnny Patrick

      So we can build another power plant at the cost of $5 billion. NICE ELECTRIC CAR> Dumb a00es !!

blog comments powered by Disqus
Daily Weather Reports Delivered To You!SIGN UP NOW: Get daily weather reports every morning from meteorologist Steve Baskerville!
CBS Sports Radio RoundupGet your latest sports talk from across the country.

Listen Live