Tuesday, April 23, 2013
Cost of owning a car rising
That hoopty is costing you more than $9,000 a year!
Larry Copeland wrote about this in USA TODAY. These are AAA numbers.
If you drive 15,000 miles a year, it's costing you 60.8 cents a mile.
This covers maintenance, fuel, tires, insurance and depreciation--not even your car payment.
Maintenance is up more than 10% this year. This covers costs of repairs and replacement parts for 5 years and 75,000 miles.
Cars are getting older. Could it be the crummy economy? Anyhow the older they get, the more they break.
More people are also getting extended warranties. Insurance is an average of more than $1000 a year.
Gas is up. Duh.
The average car on the road is 11 years old.
Any of this surprise you? We don't have a car.