Reddit
reddit.com › r/frugal › what is a good average monthly ownership cost for a car i don't really need?
r/Frugal on Reddit: What is a good average monthly ownership cost for a car I don't really need?
November 11, 2024 -
Preparing next year's budget and I've just gone through my monthly ownership averages for 2024. They are more than last year, as I had a transmission repair and needed new tires, but I was wondering what other people have as an average spend as an annual/monthly cost of running an old car they own outright?
$752 gas $973 insurance/registration/inspection $1504 maintenance and repairs
Monthly average $269 for 2024
Does this seem on par? I can't really cut back any of the categories as I think they're about as low as I can get for my make/model while still maintaining the car properly.
Top answer 1 of 5
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What would it cost you each month if you didn't have a car? If you work from home and can walk to the store then maybe it's worth 40 a month in uber rides.
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Seems fine to me. Last year (2023) we paid an average of $264/mo, including buying new summer tires. This year we were WAY outside of normal/what we budgeted due to car repairs related to animals chewing the car's wiring, and have paid $589/mo including all expenses related to the car so far this year (averaged out, $345 of that $589 was due to the animals). We also replaced wheel bearings, rear brakes, etc. as part of normal maintenance.
NerdWallet
nerdwallet.com › back to nerdwallet homepage › auto loans › learn › what is the total cost of owning a car?
What Is the Total Cost of Owning a Car? - NerdWallet
1 month ago - The average cost of owning a car is $11,577 annually or $965 monthly. Use our calculator to see how much you're spending. ... Shannon Bradley covers auto and student loans for NerdWallet.
What are the typical maintenance costs I should expect for a used vehicle?
Maintenance costs for used cars vary based on the car’s age and condition. Routine maintenance like oil changes cost $35-$125. Tire rotations are $60-$72. But, unexpected repairs can be more expensive, like transmission problems ($2,900-$7,100). Budget for both regular maintenance and surprise repairs.
goteamkia.com
goteamkia.com › true-cost-owning-used-car
Understanding the True Cost of a Used Car - Team Kia of Bend
How does depreciation affect my used car’s value over time?
Depreciation of used cars slows down after the initial purchase. Value decreases due to age, mileage, wear, and market conditions. Understanding this helps in making informed decisions about selling or trading.
goteamkia.com
goteamkia.com › true-cost-owning-used-car
Understanding the True Cost of a Used Car - Team Kia of Bend
How do insurance rates differ for used cars compared to new vehicles?
Used car insurance rates are often lower because the vehicle’s value is less. Your premiums depend on your location, driving history, the car’s make and model, and safety features. Older cars might need different coverage, affecting your insurance costs.
goteamkia.com
goteamkia.com › true-cost-owning-used-car
Understanding the True Cost of a Used Car - Team Kia of Bend
Diamond CU
diamondcu.org › blog › true-cost-of-owning-a-car
The True Cost of Owning a Car - Diamond Credit Union
August 11, 2024 - The average monthly payment for a new car in 2024 is $735 and the average payment for a used car is $523. This doesn’t reflect the true cost of owning a car. In fact, for most people, the actual total cost of car ownership is $10,800-12,000 ...
AAA
aaa.com › autorepair › articles › breaking-down-the-cost-of-car-ownership
Breaking Down the Cost of Car Ownership | AAA Automotive
To qualify, you'll typically need ... the cost of owning a car/ The average annual cost of car ownership is $12,297, or $1,025 per month....
The cost of car ownership - Bogleheads.org
Fuel cost could account for about $100 per month. I feel like this is from a person making a car payment or leasing deal or may be the car amortized across the ownership years? You're comparing the wrong stats. Total transportation includes non-recurring or non-core things like car rentals, public transportation, etc. Like for like, the average ... More on bogleheads.org
How much do you spend on average monthly owning a vehicle? I realize it will vary per month and each person's situation will be unique but how about you?
Project car: 75% of your salary More on reddit.com
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September 26, 2021For those that drive: how much do you spend per month between car notes, parking, insurance, etc?
I put away a total of $500 per month for what I thought was a humble priced car. Car payment & insurance come to about $280 in total. Registration, oil changes, tire maintenance, gas, parking tickets and all other costs & maintenance average out to be another 200-250/ month. More on reddit.com
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July 17, 2022How much (total) are you spending on owning a car every month?
Sorry, this post was deleted by the person who originally posted it. Share ... About $300. Car is paid off, $100 for insurance and about $50 a week in gas. ... The cost of ownership should still include the purchase price (and any interest paid). For purchase price you'd average it out over the total number of months ... More on reddit.com
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September 10, 2023Team Kia Bend
goteamkia.com › blog › true-cost-owning-used-car
Understanding the True Cost of a Used Car - Team Kia of Bend
May 15, 2026 - But the real story starts after you buy it. Your monthly costs include more than just payments. The average monthly car cost is $1,370. This includes payments, gas, maintenance, and insurance.
WECU
wecu.com › 7-surprising-overlooked-costs-of-owning-a-car
What is the Actual Cost of Owning a Car? | WECU
This article will explain the many expenses that add to the costs of owning a car and provide tips for lowering those costs. The average monthly payment on a new car was $726 in the third quarter of 2023, according to credit reporting agency ...
Bankrate
bankrate.com › car insurance
Study: Americans Pay $575 per Month in Hidden Car Ownership Costs - % Bankrate
September 29, 2025 - Drivers also need to find room in their budget for the extra expenses that come with owning a car — maintenance, gas, taxes and insurance costs can add up quickly. Bankrate’s study found that drivers spend an average of $575 per month on these ...
Commerce Bank
commercebank.com › home › personal › ideas & tips › the real cost of owning a car.
The real cost of owning a car. | Commerce Bank
May 9, 2026 - However, some newer models come with low-interest financing deals or manufacturer incentives. Buying used is cheaper at the outset, with an average payment opens in a new window of $520 per month.
NerdWallet
nerdwallet.com › back to nerdwallet homepage › auto loans › learn › what’s the average car payment per month?
What’s the Average Car Payment Per Month? - NerdWallet
1 month ago - The average monthly car payment is $770 for new cars and $531 for used. Several factors determine your payment. ... Shannon Bradley covers auto and student loans for NerdWallet. Before joining NerdWallet in 2021, Shannon spent 30-plus years ...
Bureau of Transportation Statistics
bts.gov › content › average-cost-owning-and-operating-automobilea-assuming-15000-vehicle-miles-year
Average Cost of Owning and Operating an Automobile | Bureau of Transportation Statistics
In 2004, the American Automobile ... period. The total cost of owning and operating an automobile include fuel, Maintenance, Tires, insurance, license, registration and taxes, depreciation, and finance. Prior to 1985, the cost figures are for a mid-sized, current model, American car equipped with a variety of standard and optional accessories. After 1985, the cost figures represent a composite of three current model American cars. The 2004 fuel costs are based on average late-2003 ...
AAA Texas
tx-aaa.iprsoftware.com › news › aaa-texas-true-cost-of-annual-vehicle-ownership-rises-to-9-282
AAA Texas: True Cost of Annual Vehicle Ownership Rises to $9,282 | AAA Texas
September 12, 2019 - Finance costs on new car purchases have jumped 24% in 2019, according to new AAA research, pushing the average annual cost of vehicle ownership to $9,282, or $773.50 a month. That’s...
AAA
aaa.com › autorepair › articles › what-does-it-cost-to-own-and-operate-a-car
What Does It Cost To Own And Operate A Car | AAA Automotive
AAA has been tracking vehicle ownership costs for decades, and motorists are often surprised when they learn the full scope of the costs involved. In 2016, owning and operating an average sedan costs $8,558 per year, which is equal to $713 per month ...
Wikipedia
en.wikipedia.org › wiki › Car_costs
Car costs - Wikipedia
2 weeks ago - For the average car owner, depreciation ... a car. The typical motorist underestimates this fixed cost by a significant margin. The IRS considers that the average US automobile has a total cost of US$0.58/mile, around €0.32/km. According to the American Automobile Association, the average driver of the average sedan spends totally approximately US$8,700 per year, or US$720 per month, to own and ...
Bogleheads.org
bogleheads.org › board index › community › personal consumer issues
The cost of car ownership - Bogleheads.org
December 2, 2024 - You're comparing the wrong stats. Total transportation includes non-recurring or non-core things like car rentals, public transportation, etc. Like for like, the average monthly cost for fuel is $133/mo, maintenance-repair is $59, insurance is $78, for a single reporting individual.
The Motley Fool
fool.com › knowledge › research › the average cost of car ownership
The Average Cost of Car Ownership | The Motley Fool
November 12, 2024 - The average cost of car ownership is around $12,000. The Bureau of Labor Statistics found that Americans spent $12,078 on car ownership costs in 2023, while AAA estimates that in 2024, Americans will spend $12,297.
Instagram
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Average Monthly Car Costs
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AOL
aol.com › average-cost-owning-car-153528736.html
The average cost of owning a car
June 9, 2025 - Based on April 2025 data from Experian, the average monthly loan payment for a new car is $742, while drivers paying on a used vehicle pay an average of $525 monthly. Based on these numbers, if you’re on a limited budget, you may be better ...
Audacy
audacy.com › krld
Study: Owning a car costs more than $1K a month | NewsRadio 1080 KRLD
The average cost to own and operate a new vehicle in 2024 is $12,297, or $1,024.75 per month, according to AAA's Your Driving Costs report. That's $115 more than last year and a sharp increase from 2022, when the average yearly cost was only ...
Published September 12, 2024
WPXI
wpxi.com › news › local › buyers-fret-average-cost-new-car-nears-50k › MAVV54E4RVDQBGRJ7HR6T2IT7Q
Buyers fret as the average cost of a new car nears $50K – WPXI
April 11, 2026 - New vehicles now sell for an average of nearly $50,000, up 30% in six years, and average monthly payments — based on 10% down and a 6-year note — recently hit $775. Looking for something on the cheap end?