Annual expenses for owning a new car have risen sharply, with total costs now exceeding $12,000 per year, according to a recent study. The analysis breaks down which vehicle types—such as sedans, SUVs, or electric cars—deliver the best value in terms of affordability over time. Factors like fuel efficiency, maintenance, and insurance play a key role in determining long-term savings. Drivers considering a purchase may find the findings helpful in weighing cost efficiency against performance needs.
New car ownership costs hit $12,863 a year; study shows which car types are cheaper MarketWatch
