2018 EDITION YOUR DRIVING COSTS How Much Are You Really Paying to Drive? How Much Does It Cost to Drive? Shown below are average per-mile costs as determined by AAA, based on the driving costs for nine vehicle categories weighted by sales. Detailed driving costs for each category are provided on pages 6 through 9. AAA Average Costs Per Mile Miles per Year Composite Average 10,000 15,000 20,000 75.31 cents 58.99 cents 51.06 cents Driving costs in each vehicle category are based on average costs for five top-selling 2018 models selected by AAA. By category, they are: ▶▶ Small Sedan — Chevrolet Cruze, Ford Focus, Honda Civic, Hyundai Elantra and Toyota Corolla ▶▶ M edium Sedan — Chevrolet Malibu, Ford Fusion, Honda Accord, Nissan Altima and Toyota Camry ▶▶ Large Sedan — Chevrolet Impala, Chrysler 300, Ford Taurus, Nissan Maxima and Toyota Avalon ▶▶ Small SUV — Chevrolet Equinox, Ford Escape, Honda CR-V, Nissan Rogue and Toyota RAV4 ▶▶ M edium SUV — Chevrolet Traverse, Ford Explorer, Honda Pilot, Jeep Grand Cherokee and Toyota Highlander ▶▶ Minivan — Chrysler Pacifica, Dodge Grand Caravan, Kia Sedona, Honda Odyssey, and Toyota Sienna ▶▶ Pickup Truck — Chevrolet Silverado 1500, Ford F-150, Nissan Titan, Ram 1500 and Toyota Tundra ▶▶ Hybrid Car — Ford Fusion, Hyundai Ioniq, Kia Niro, Toyota Prius Liftback and Toyota RAV4 ▶▶ E lectric Car — BMW i3, Chevrolet Bolt, Ford Focus, Kia Soul and Nissan Leaf 2  Your Driving Costs What’s Covered AAA’s analysis covers vehicles equipped with standard features and optional equipment including automatic transmission, air conditioning, power steering, antilock brakes and cruise control, to name a few. Depreciation — Depreciation is based on the difference between the new-vehicle purchase price and the estimated trade-in value at the end of five years and 75,000 miles. Finance — Costs are based on a five-year loan, with 10 percent down, at the national average interest rate for five credit rating categories weighted by market share. The loan amount includes taxes and the first year’s license fees, both computed on a national average basis. Fuel — Fuel costs are based on average prices for the 12 months ending May 31, 2018, as reported by AAA Gas Prices at www.GasPrices.AAA.com. During this period, the regular grade gasoline used by most vehicles in the study averaged $2.523 per gallon. Fuel economy is based on Environmental Protection Agency ratings for 55 percent city and 45 percent highway driving. Electric vehicle charging costs are based on a rate of 12.5 cents per kilowatt hour. Insurance — Costs are based on a full-coverage policy for personal use of a vehicle by a driver who is younger than 65 years of age, has more than six years of driving experience, no accidents and lives in a suburban/urban location. The policy includes discounts for passive restraints and an anti-theft system, and provides $100,000/$300,000 personal liability, $25,000 medical, $100,000 property and $25,000/$50,000 uninsured/underinsured motorist coverage. A $500 deductible applies to all collision and comprehensive claims. License, Registration and Taxes — Costs include all governmental taxes and fees payable at the time of purchase, as well as fees due each year to keep the vehicle licensed and registered. Costs are computed on a national average basis. Maintenance, Repair and Tires — These costs include retail parts and labor for routine maintenance specified by the vehicle manufacturer, a comprehensive extended warranty, repairs to wear-and-tear items that require service during five years of operation and one set of replacement tires of the same quality, size and rating as those that came with the car. Sales tax is included on a national average basis. Your Driving Costs  3 When determining your annual driving costs, be sure to include all vehicle-related expenses incurred during the year. Figuring Your Costs To figure your fuel cost, begin with a full tank of fuel and write down the odometer reading. Each time you fill up, note the number of gallons, how much you paid and the odometer reading. These figures can then be used to calculate average miles per gallon and cost of fuel per mile. For example: Gas Cost Per Mile Gallons Cost1 Odometer Full Tank 8,850 12.4 $31.40 9,136 9.5 $24.05 9,355 15.7 $39.75 9,717 37.6 $95.20 9,717 –8,850 Miles Driven = 867 Miles per gallon: 867 ÷ 37.6 = 23.1 mpg Gas cost per mile: $95.20 ÷ 867 = 10.98 cents 1 Price per gallon = $2.532 4  Your Driving Costs To determine your driving costs accurately, keep personal records on all the costs listed below. Use this worksheet to figure your total cost to drive. Annual Cost per Mile Costs Yearly Totals Operating Costs Gas per mile Total miles driven Total gas Maintenance, repair and tires Total Operating Costs × = + = Ownership Costs Depreciation Insurance License, registration and taxes Finance charges Total Ownership Costs + + + = Other Costs (Parking, tolls, washing, etc.) Total Driving Costs Total Miles Driven Cost per Mile Your Driving Costs  5 DRIVING COSTS Small Sedan1 Medium Sedan1 Operating Costs Fuel 8.01 cents 9.18 cents Maintenance, repair and tires 7.25 cents 8.58 cents 15.26 cents 17.76 cents $1,315 $1,232 Cost Per Mile Ownership Costs Full-coverage insurance License, registration, taxes Depreciation (15,000 miles annually) Finance charge $466 $690 $2,268 $3,580 $439 $700 Cost Per Year $4,488 $6,202 Cost Per Day $12.30 $16.99 10,000 total miles per year Per Year Per Year Cost per mile x 10,000 miles $1,526 $1,776 Cost per day x 365 days $4,488 $6,202 Decreased depreciation2 -$239 -$258 $5,775 $7,720 Total Cost Per Mile Total Cost Per Year Total Cost Per Day $15.82 $21.15 Total Cost Per Mile3 $0.5775 $0.7720 15,000 total miles per year Per Year Per Year Cost per mile x 15,000 miles $2,289 $2,664 Cost per day x 365 days $4,488 $6,202 Total Cost Per Year $6,777 $8,866 Total Cost Per Day $18.57 $24.29 Total Cost Per Mile3 $0.4518 $0.5911 20,000 total miles per year Per Year Per Year Cost per mile x 20,000 miles $3,052 $3,552 Cost per day x 365 days $4,488 $6,202 Increased depreciation4 $270 $289 $7,810 $10,043 Total Cost Per Year Total Cost Per Day $21.40 $27.52 Total Cost Per Mile3 $0.3905 $0.5022 See page 2 for a listing of vehicle makes and models used for driving cost calculations. 1 6  Your Driving Costs Decreased depreciation for mileage under 15,000 miles annually averaged over 5 years. 2 Large Sedan1 Small SUV (FWD)1 Medium SUV (4WD)1 12.19 cents 9.12 cents 12.43 cents 8.80 cents 8.45 cents 8.66 cents 20.99 cents 17.57 cents 21.09 cents $1,209 $1,074 $1,102 $783 $614 $845 $3,893 $2,927 $3,714 $770 $618 $872 $6,655 $5,233 $6,533 $18.23 $14.34 $17.90 Per Year Per Year Per Year $2,099 $1,757 $2,109 $6,655 $5,233 $6,533 -$326 -$326 -$413 $8,428 $6,664 $8,229 $23.09 $18.26 $22.55 $0.8428 $0.6664 $0.8229 Per Year Per Year Per Year $3,149 $2,636 $3,164 $6,655 $5,233 $6,533 $9,804 $7,869 $9,697 $26.86 $21.56 $26.57 $0.6536 $0.5246 $0.6464 Per Year Per Year Per Year $4,198 $3,514 $4,218 $6,655 $5,233 $6,533 $366 $368 $468 $11,219 $9,115 $11,219 $30.74 $24.97 $30.74 $0.5610 $0.4558 $0.5610 Total cost per year ÷ total miles per year. 3 Increased depreciation for mileage over 15,000 miles annually averaged over 5 years. 4 Your Driving Costs  7 DRIVING COSTS Minivan1 1/2-Ton, CrewCab Pickup (4WD)1 11.87 cents 15.05 cents Operating Costs Fuel Maintenance, repair and tires Cost Per Mile 8.23 cents 8.13 cents 20.10 cents 23.18 cents $1,114 $1,242 Ownership Costs Full-coverage insurance License, registration, taxes Depreciation (15,000 miles annually) Finance charge $769 $996 $4,003 $3,518 $776 $982 Cost Per Year $6,662 $6,738 Cost Per Day $18.25 $18.46 10,000 total miles per year Per Year Per Year Cost per mile x 10,000 miles $2,010 $2,318 Cost per day x 365 days $6,662 $6,738 Decreased depreciation2 -$302 -$493 $8,370 $8,563 Total Cost Per Mile Total Cost Per Year Total Cost Per Day $22.93 $23.46 Total Cost Per Mile3 $0.8370 $0.8563 15,000 total miles per year Per Year Per Year Cost per mile x 15,000 miles $3,015 $3,477 Cost per day x 365 days $6,662 $6,738 Total Cost Per Year $9,677 $10,215 Total Cost Per Day $26.51 $27.99 Total Cost Per Mile3 $0.6451 $0.6810 20,000 total miles per year Per Year Per Year Cost per mile x 20,000 miles $4,020 $4,636 Cost per day x 365 days $6,662 $6,738 Increased depreciation4 $340 $556 Total Cost Per Year $11,022 $11,930 Total Cost Per Day $30.20 $32.68 $0.5511 $0.5965 Total Cost Per Mile 3 See page 2 for a listing of vehicle makes and models used for driving cost calculations. 1 8  Your Driving Costs Decreased depreciation for mileage under 15,000 miles annually averaged over 5 years. 2 Hybrid Vehicle1 Electric Vehicle1 Average 5.70 cents 3.68 cents 11.05 cents 7.49 cents 7.60 cents 8.21 cents 13.19 cents 11.28 cents 19.26 cents $1,200 $1,215 $1,189 $617 -$677 $738 $3,068 $5,471 $3,289 $621 $683 $744 $5,506 $6,692 $5,960 $15.08 $18.33 $16.33 Per Year Per Year Per Year $1,319 $1,128 $1,926 $5,506 $6,692 $5,960 -$301 -$319 -$355 $6,524 $7,501 $7,531 $17.87 $20.55 $20.63 $0.6524 $0.7501 $0.7531 Per Year Per Year Per Year $1,979 $1,692 $2,889 $5,506 $6,692 $5,960 $7,485 $8,384 $8,849 $20.51 $22.97 $24.24 $0.4990 $0.5589 $0.5899 Per Year Per Year Per Year $2,638 $2,256 $3,852 $5,506 $6,692 $5,960 $340 $359 $401 $8,484 $9,307 $10,213 $23.24 $25.50 $27.98 $0.4242 $0.4654 $0.5106 Total cost per year ÷ total miles per year. 3 Increased depreciation for mileage over 15,000 miles annually averaged over 5 years. 4 Your Driving Costs  9 Vehicle Maintenance Driving costs are affected by how well your vehicle runs. Performing regular maintenance can ensure more efficient operation and help prevent costly repairs down the road. Below are general checks to keep your vehicle in good operating shape. Read your owner’s manual for more detailed information on your vehicle’s specific requirements. When performing “do-it-yourself” maintenance, always take appropriate safety precautions. Air Filter — Captures dirt particles and ensures clean airflow to the engine. Inspect at every oil change. Battery — Powers the starter motor, acts as a voltage stabilizer for the electrical system and makes up any shortfall when the alternator cannot meet the vehicle’s electrical demands. Inspect the battery cable connections at every oil change and clean as needed. Always wear eye protection and gloves when servicing a battery. Belts — Most vehicles use a single serpentine belt to operate under-hood accessories such as the alternator, although V-belts still are used in some applications. Inspect at every oil change. Fluids ▶▶ Brake Fluid — Critical to proper brake system performance. Check the level at every oil change. ▶▶ Engine Coolant — Prevents engine freeze-up in winter and boil-over in summer, and protects the cooling system from rust and corrosion. Check the level at every oil change. ▶▶ Engine Oil — Lubricates and cools the engine while cleaning internal parts. Running your car low on oil can cause serious engine damage. Check the level at least once a month. ▶▶ Power Steering Fluid — Transfers hydraulic pressure to reduce steering effort. Check the level at every oil change. ▶▶ Transmission Fluid — Helps transfer engine power to the wheels, lubricates internal parts, maintains seals and acts as a coolant. Check the level at every oil change. Gasoline — Use gasoline with the octane rating recommended by the vehicle manufacturer — a higher fuel grade will not provide additional benefits. Gasolines that meet TOP TIER™ standards do a better job of preventing and removing internal engine deposits. 10  Your Driving Costs Hoses — Circulate vital liquids such as engine coolant, transmission fluid and power steering fluid. Inspect at every oil change. Tires — As the only part of your vehicle in contact with the road, tires have a major effect on ride, handling, braking and safety. For optimum performance, tires must have adequate tread depth, show no signs of physical damage and be properly inflated. Inspect tires and check inflation pressures at least once a month. AAA Car Care Resources AAA offers several resources to complement information found in your owner’s manual. ▶▶ AAA.com — Provides a variety of vehicle maintenance and operating tips. Online content varies by AAA club. ▶▶ AAA Approved Auto Repair — The AAR network includes nearly 7,000 shops across North America that are visited regularly and inspected annually by AAA to ensure they meet AAA’s rigorous quality standards. AAA members receive priority service when their car is towed in, assistance in obtaining alternate transportation (if necessary), repair discounts, written estimates, free maintenance inspections, a minimum 24-month/24,000-mile warranty and AAA arbitration to resolve repair disputes. ▶▶ AAA.com/AutoRepair — This site features a search tool to help users locate nearby AAA Approved Auto Repair facilities. It also has a tool for estimating repair costs, and numerous articles that discuss various aspects of car care. ▶▶ AAA Mobile App — Available for both Apple and Android devices, AAA’s app provides AAR shop locations and information, along with other useful benefits. Your Driving Costs  11 Behind the Numbers AAA is a federation of motor clubs serving more than 58 million members in the United States and Canada through nearly 1,100 offices. Founded in 1902, AAA is a not-for-profit, fully taxpaying corporation. Its purpose is twofold: Give members a full range of automotive and travel-related services, and promote the interests of motorists and travelers through legislative and educational activities. AAA has published Your Driving Costs since 1950. That year, driving a car 10,000 miles cost 9 cents a mile, and gasoline sold for 27 cents per gallon. Methodology The Your Driving Costs study employs a proprietary AAA methodology to analyze the costs of owning and operating a new vehicle in the United States, using data from a variety of sources, including Vincentric LLC. AAA significantly enhanced the methodology used to calculate Your Driving Costs in 2017, so the driving cost numbers in this edition are directly comparable only to those of last year. The AAA methodology incorporates standardized criteria designed to estimate the costs of using a new vehicle for personal transportation over five years and 75,000 miles of ownership. The use of standardized criteria ensures AAA estimates are consistent when comparing the driving costs of different vehicle types. Actual driving costs will vary based on driving habits, location, operating conditions and other factors. The AAA Your Driving Costs estimates are provided to help consumers make informed vehicle purchase decisions and budget for annual automotive expenses. AAA Association Communication 1000 AAA Drive Heathrow, FL 32746-5063 Contents may be reprinted in part or in their entirety with attribution. ©AAA 2018  •  Stock 2717  •  Printed in USA AAA.com AAA.com/PublicAffairs 18-0090