Costs of car ownership have soared in the past year, a new report from AAA Mid-Atlantic says.
The average owner racks up 61 cents in costs for each mile traveled. Over the course of the year, the average car owner will pay about $9,100, AAA found. And that's just for smaller passenger vehicles. Sport utility vehicles owners pay more — 77 cents per mile, or $11,600 a year, AAA said.
The figures, based on annual travel of 15,000 miles, cover the estimated costs of gasoline, tires, insurance and vehicle repairs. AAA uses a standard-size sedan to compute its estimates.
Last year, average costs of car ownership stood at $8,900, according to AAA.
The biggest increases came from maintenance and repair. Labor costs for work rose about 11 percent in the past year. Insurance and gas prices only rose about 2 percent over the same time period.
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