• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
AAA

This Is What It Really Costs to Own a Car

By
Kirsten Korosec
Down Arrow Button Icon
By
Kirsten Korosec
Down Arrow Button Icon
August 23, 2017, 12:02 AM ET

It costs an average $706 every month to own a new vehicle in the U.S. in 2017, according to a study released Wednesday by the American Automobile Association. That’s $8,469 a year, not counting any loan payment.

But that average cost spikes even higher for owners of new minivans and pickup trucks.

The annual evaluation by AAA, which takes into account the cost of fuel, depreciation, maintenance, and repairs, aims to provide a complete and more accurate projection of what it means to own a vehicle.

This year, AAA added an electric vehicle category. And while electric vehicles came in lower than average driving cost of $8,439, they still were considered more expensive than a small sedan and even a small sport utility vehicle. EVs have the lowest annual maintenance and repair costs, at $982 per year. And fuel costs are also lower than gasoline-power vehicles. But depreciation, which AAA marks at nearly $6,000 in value every year for an EV, is what pushes the annual cost of an EV so high.

Still, AAA still views electric vehicles as an affordable choice in the long run and advises buying an older model to avoid the depreciation costs.

Get Data Sheet, Fortune’s technology newsletter.

The least expensive vehicles to own are small sedans at $6,354 a year. From there, the cost of ownership creeps steadily higher from $7,606 for small SUVs, $7,687 for hybrids, and$8,439 electric vehicles.

All of these vehicle categories come in under that average price mark. The remaining vehicle categories, which include minivans, large sedans, and pickup trucks, all eclipse that average annual cost of $8,469 a year.

Pickup trucks are the most expensive vehicles to drive at $10,054 annually.

For more on the electric vehicles, watch Fortune’s video:

AAA evaluated 45 2017 model-year vehicles across nine categories and focused on mid-range, top-selling vehicles. The annual driving cost is based on a sales-weighted average of the individual costs for all of the vehicle types, according to AAA.

Vehicle TypeAnnual Cost*Vehicle TypeAnnual Cost*
Small Sedan$6,354Minivan$9,146
Small SUV$7,606Large Sedan$9,399
Hybrid$7,687Medium SUV$9,451
Medium Sedan$8,171Pickup Truck$10,054
Electric Vehicle$8,439Average$8,469

*Based on 15,000 miles driven annually

About the Author
By Kirsten Korosec
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Latest in

Mark Zuckerberg and the Meta logo
Big TechMeta
Former Meta integrity chief says new report reveals ‘disappointing’ ad fraud epidemic at the social-media giant
By Lily Mae LazarusDecember 15, 2025
34 minutes ago
Co-owners Dean Smith, left, and Joanne Farrugia pose for a photograph in JaZams, one of their toy stores Friday, June 27, 2025, in Princeton, N.J.
RetailTariffs
Small businesses say Trump tariffs are hurting this group of consumers this holiday season—here’s what is getting more expensive
By Mae Anderson and The Associated PressDecember 15, 2025
37 minutes ago
A woman takes a bag of groceries during a free food distribution for recipients of the Supplemental Nutrition Assistance Program (SNAP) organized by the Volusia County Sheriff's Office and The Jewish Federation at the Daytona International Speedway in Daytona Beach, Florida, on November 9, 2025.
PoliticsSNAP
Trump vows to fight ‘fraud’ in SNAP benefits for 42 million Americans
By Geoff Mulvihill and The Associated PressDecember 15, 2025
38 minutes ago
Jerome Powell, with an American flag in the background, speaks and gestures with his left hand.
EconomyFederal Reserve
‘We are now firmly back in a good is bad/bad is good regime’: Weak job data may lead to more rate cuts and boost stocks, Morgan Stanley economist says
By Sasha RogelbergDecember 15, 2025
2 hours ago
AIregulation
Actor Joseph Gordon-Levitt wonders why AI companies don’t have to ‘follow any laws’
By Nick LichtenbergDecember 15, 2025
2 hours ago
BankingFederal Reserve
Kevin vs. Kevin: Warsh overtakes Hassett as favorite to be Fed chair nominee on prediction market
By Jason MaDecember 15, 2025
2 hours ago

Most Popular

placeholder alt text
Uncategorized
Transforming customer support through intelligent AI operations
By Lauren ChomiukNovember 26, 2025
19 days ago
placeholder alt text
Success
Sorry, six-figure earners: Elon Musk says that money will 'disappear' in the future as AI makes work (and salaries) irrelevant
By Orianna Rosa RoyleDecember 15, 2025
7 hours ago
placeholder alt text
Success
Apple cofounder Ronald Wayne sold his 10% stake for $800 in 1976—today it’d be worth up to $400 billion
By Preston ForeDecember 12, 2025
3 days ago
placeholder alt text
Success
40% of Stanford undergrads receive disability accommodations—but it’s become a college-wide phenomenon as Gen Z try to succeed in the current climate
By Preston ForeDecember 12, 2025
3 days ago
placeholder alt text
AI
Deloitte's CTO on a stunning AI transformation stat: Companies are spending 93% on tech and only 7% on people
By Nick LichtenbergDecember 15, 2025
10 hours ago
placeholder alt text
Politics
Trump admits he can't tell if the GOP will control the House after next year's elections. 'I don't know when all of this money is going to kick in'
By Jason MaDecember 14, 2025
1 day ago