| Small Sedan | Medium Sedan | Large Sedan | Car Average | SUVs | Minivan | |
|---|---|---|---|---|---|---|
| COST OF CAR | $17,935 | $21,250 | $26,700 | $21,961 | $28,126 | $26,230 |
| AVERAGE MPG | 36 | 31 | 25 | 30.6 | 21 | 23 |
| Cost per gallon* | $3.5950 | $3.5950 | $3.5950 | $3.5950 | $3.5950 | $3.5950 |
| MILES PER YEAR | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 |
| Operating Costs (per mile) | ||||||
| Gas | $0.0999 | $0.1160 | $0.1438 | $0.1175 | $0.1712 | $0.1563 |
| Maintenance | $0.0398 | $0.0467 | $0.0507 | $0.0457 | $0.0547 | $0.0476 |
| Tires | $0.0055 | $0.0085 | $0.0077 | $0.0072 | $0.0093 | $0.0067 |
| Total Operating Costs per Mile (rounded to nearest cent) |
$0.15 | $0.17 | $0.20 | $0.17 | $0.24 | $0.21 |
| Total Operating Cost per Year | $2,177.42 | $2,567.52 | $3,033.00 | $2,555.75 | $3,527.86 | $3,159.07 |
| Ownership Costs (per year) | ||||||
| Full-coverage Insurance** | $815.00 | $874.00 | $846.00 | $845.00 | $814.00 | $710.00 |
| License, Registration | $68.00 | $68.00 | $68.00 | $68.00 | $68.00 | $68.00 |
| First-year sales and property taxes *** | $660.15 | $782.17 | $982.77 | $808.37 | $1,035.26 | $965.47 |
| Depreciation (15,000 miles annually) † | $3,228.30 | $3,825.00 | $4,806.00 | $3,952.98 | $5,062.68 | $4,721.40 |
| Finance Charges ‡ | $968.49 | $1,147.50 | $1,441.80 | $1,185.89 | $1,518.80 | $1,416.42 |
| Total Ownership Cost per Year | $5,739.94 | $6,696.67 | $8,144.57 | $6,860.24 | $8,498.75 | $7,881.29 |
| Total Ownership Cost per Mile (rounded to nearest cent) |
$0.57 | $0.67 | $0.81 | $0.69 | $0.85 | $0.79 |
| Total Costs | ||||||
| Total Cost per Mile | $0.72 | $0.84 | $1.02 | $0.86 | $1.09 | $1.00 |
| Total Cost per Year | $10,787.33 | $12,612.52 | $15,249.86 | $12,846.11 | $16,275.98 | $14,981.01 |
*Price based on April 29, 2008 average NC gas price for a gallon of unleaded self-serve fuel.
**Based on full-coverage policy, $100,000/$300,000 coverage with $500 collision deductible and $100
comprehensive.
***NC sales tax at 3%, NC property tax estimated at .6808/$100
†Depreciation based on 18 percent per year
‡Finance charges for 1 year based on 6% for 60 months after 10% cash down
Charlotte NC, April 29, 2008
Press Release from AAA Carolinas
North Carolina Driving Costs 63 Cents A Mile in 2008; Cost Will Go Up With Increase in Gas
Prices
An affiliate of the American Automobile Association, AAA Carolinas was founded in 1922 as a not-for-profit organization that now serves more than 1.7 million members with travel, automobile and insurance services while being an advocate for the safety and security of travelers.
http://www.aaacarolinas.com/Media/Releases/index.htm
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