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Lower gas prices drive down cost of car ownership
Lower gas prices drive down cost of car ownership

The expense of owning and operating a car dipped nearly 2% last year because of falling gas prices and low interest rates, the American Automobile Assn. said in its annual driving cost study Tuesday. The driver of an average sedan can expect to spend 58 cents a mile, or about $725 a month, on car expenses, the auto club said. That adds up to $8,698 annually. The numbers are based on a motorist driving 15,000 miles annually. “Fortunately, reduced gasoline and finance costs more than offset rising costs in other areas,” said John Nielsen, AAA’s managing director of automotive engineering and repair. “As a result, car owners can look forward to saving approximately...

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