Economy

Annual Cost of Owning a New Vehicle Logs First Drop in 6 Years

AAA points to depreciation, lower finance charges, reduced gas prices, and a shift toward more affordable vehicles as the main reasons for the savings.
Annual Cost of Owning a New Vehicle Logs First Drop in 6 Years
New cars for sale at a Chevrolet dealership in National City, Calif. Reuters/Mike Blake/File Photo
Mary Prenon
Mary Prenon
Freelance Reporter
|Updated:
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An analysis by the Automobile Association of America (AAA) reveals that the total annual cost of owning and operating a new vehicle this year is $11,577—a $719 drop from $12,297 in 2024. This marks the first decrease since 2019, according to a compilation of AAA data by The Epoch Times.

On a monthly basis, costs have slid from $1,024.74 to $964.78. This includes monthly finance payments, insurance, fuel, and maintenance.

Mary Prenon
Mary Prenon
Freelance Reporter
Mary T. Prenon covers real estate and business. She has been a writer and reporter for over 25 years with various print and broadcast media in New York.