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Monday, 26th March 2007

Your Driving Costs -- 2007 Edition

Your Driving Costs -- 2007 Edition (PDF; 258 KB)
Source: AAA
From press release:

AAA’s Your Driving Costs looks at operating and ownership costs of five top-selling models in three popular size classes: small, medium, and large sedans. The results clearly show that consumers do have an opportunity to save substantial sums of money by switching from larger models to smaller vehicles.

For example, AAA’s research shows the average annual cost of driving a small sedan is $6,217 per year, while a large sedan costs almost 50 percent more to own and operate at $9,380 per year. Smaller, but still significant, savings can be realized by driving a minivan instead of a larger, more expensive and less fuel-efficient SUV. AAA estimates the annual expense of owning and operating a typical minivan at $8,639 per year based on 15,000 miles of driving. An SUV driven the same distance costs an average of $9,997 per year, AAA reports, which is over 15 percent higher.

AAA’s estimated average driving costs are higher than the Internal Revenue Service’s allowance for 2007 business mileage of 48.5 cents per mile. The IRS has never allowed full reimbursement of all expenses associated with automobile ownership and use. AAA first began publishing research on driving costs in 1950.



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