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Vehicle ownership costs increase

Posted On Tue, May 1, 2012

The American Automobile Association recently noted that costs for drivers have increased significantly during 2012.

The average cost to own and use a small vehicle rose 1.9 percent compared to last year's statistic, according to the "Your Driving Costs" study. In addition, the average cost to drive a vehicle rose 1.1 cents to 59.6 cents per mile. This comes out to $8,946 annually, if a person drives 15,000 miles.

"The average driving cost for 2012 is up due to relatively large increases in fuel and tire costs, and more moderate increases in other areas," said John Nielsen, AAA director of automotive engineering and repair. "Those increases were offset by a decrease in depreciation resulting in an overall increase of 1.9 percent."

If a person is having difficulty affording all of their automotive costs, it may be a good plan to look for a less expensive auto insurance plan. By comparing auto insurance quotes, it may be possible to find a plan with low auto insurance rates, which could make a difference for years to come.

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