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As any motorist can attest, the cost of driving has been on the rise. Just how much? Recent analysis from AAA shows the cost of driving a passenger vehicle in the United States has increased 1.9 cents per mile in the last year and now averages 54.1 cents per mile. Costs for maintenance, full-coverage insurance and depreciation are all slightly lower this year, while the costs for fuel, tires, financing, license, registration and taxes showed increases. In 2008, AAA estimates it will cost $8,121 to own and operate a new passenger car driven 15,000 miles per year. This compares to $7,823 per year in 2007; or 52.2 cents per mile. These figures come from an AAA study that puts dollar figures to some common-sense car-buying advice . For example, AAA's research shows the annual average cost of driving a small sedan is $6,320 per year, while a large sedan costs $9,769 per year. Similar savings can be realized by driving a minivan, instead of a larger and less-fuel efficient sport utility vehicle (SUV). AAA estimates the annual expense of owning and operating a typical minivan at $8,644 per year versus $10,448 for a four-wheel-drive mid-size SUV . Ultimately, right-sizing car choices to...
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