New research reveals that the average annual cost of owning a vehicle has risen sharply, reaching a total of $12,863 per year. The analysis factors in expenses such as fuel, maintenance, insurance, and depreciation, highlighting how financial burdens on drivers have grown. Experts note that increasing fuel prices and repair costs are key contributors to the upward trend. Drivers facing these rising expenses may need to adjust budgets or explore alternative transportation options.
AAA: New Vehicle Ownership Costs Hit $12,863 Annually Greenwich Free Press
