A nonprofit publication of the Kentucky Center for Public Service Journalism

AAA: True cost of annual vehicle ownership rises to $9,282; spike in finance costs drives increase

It’s going to cost more for those looking to buy a new car this year. Finance costs on new car purchases have jumped 24 percent 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 an overall annual increase of $433 – or nearly 5 percent – from last year. This is the highest cost associated with new vehicle ownership...