Experts say that driving costs have hit a six-year low.
According to AAA, the average cost to own and operate a sedan is 57 cents a mile, or $8,604 annually.
Falling gas prices are a key factor after a 25 percent drop in regular fuel prices since last year. AAA spokesperson Marilyn Buskohl said the average driver is paying $414 less for fuel.
Despite an overall drop in costs, prices for insurance, maintenance, and licensing have risen in the U.S. this year. A low-risk driver is paying $107 more for insurance. AAA says a higher average number of miles driven is likely the cause.
On average, maintenance costs and licensing fees are up by approximately $25 in 2016.
Small sedans, on average, cost $6,579 (44 cents per mile) per year to operate and medium sedans cost $8,604 (57 cents per mile). AAA said larges sedans cost $10,492 (70 cents per mile), SUVs cost $10,255 (68 cents per mile), and a minivan costs $9,262 (62 cents per mile).
According to AAA, the average cost to own and operate a sedan is 57 cents a mile, or $8,604 annually.
Falling gas prices are a key factor after a 25 percent drop in regular fuel prices since last year. AAA spokesperson Marilyn Buskohl said the average driver is paying $414 less for fuel.
Despite an overall drop in costs, prices for insurance, maintenance, and licensing have risen in the U.S. this year. A low-risk driver is paying $107 more for insurance. AAA says a higher average number of miles driven is likely the cause.
On average, maintenance costs and licensing fees are up by approximately $25 in 2016.
Small sedans, on average, cost $6,579 (44 cents per mile) per year to operate and medium sedans cost $8,604 (57 cents per mile). AAA said larges sedans cost $10,492 (70 cents per mile), SUVs cost $10,255 (68 cents per mile), and a minivan costs $9,262 (62 cents per mile).