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Published: Aug 19, 2021 4 min read
Car With A Oversized Price Tag
Money; Getty Images

The price you pay for a new vehicle is just a fraction of the overall cost of owning a car. And those overall costs are on the rise — now running close to $10,000 per year, on average.

Once you add up expenses like car insurance, gas, maintenance, registration and finance charges related to loans, and then factor in depreciation (yes, this is a very real cost), the average cost of new vehicle ownership adds up to $9,666 a year, according to a new AAA report.

That figure represents an all-time high — unsurprising given that car prices generally trend upward — and an increase of $105 over last year's average car ownership cost ($9,561), per AAA.