Cost of Car Ownership Driven Up: Owning...

Cost of Car Ownership Driven Up: Owning and operating a new car costs an average of $6,389 a year, $204 more than a year ago, the American Automobile Assn. said. AAA’s annual report on estimates of new-car ownership costs said the largest contributors to the increase were depreciation, which rose $97; insurance, up $63; and finance charges, which rose an average of $32. The auto club said the annual costs translate to 42.6 cents a mile, up 1.4 cents. Driving costs include fuel, oil and maintenance, finance charges, registration fees, insurance, taxes and depreciation. AAA based its report on a composite national average of three domestically built 1996 cars: the compact Ford Escort LX, the mid-size Ford Taurus GL and the full-size Chevrolet Caprice. For the first time, the AAA report estimated costs for owning and operating a sport-utility vehicle. Using the 1996 Chevrolet Blazer, the survey pegged driving costs at 49.9 cents a mile. The survey said driving costs for a minivan, based on the Dodge Caravan SE, are 44.6 cents a mile, up 0.8 cent from a year ago.