- According to several sources, in the USA, it costs on average between $900 to $1100 per month to own and operate a car. The amount goes down to about $500 monthly if you do not have a car payment. Typical costs are:
- car payment
- insurance
- fuel
- maintenance
- registration/taxes
- depreciation
Lucky for me I drive a 2002 honda accord that I purchased about 14 years ago for 5k and I have had very few problems. But these numbers sound about right for the new car buyers.
@jeffjagoe too bad its not a 2001 honda civic gently used right?
My older Prius is a 2009, which I bought used in 2016. The newer one is 2012, which I also bought used in 2023. The first was super reliable and is still running, just uglier.
Those 01 civics are a hot commodity these days!
This sounds pretty accurate, based on my experience. My own costs are lower, but I pay particular attention to keeping my fuel and insurance costs low, and I do my own maintenance.
I think mine are somewhere around $600/mo. I own two Priuses outright. My biggest payment is for insurance. Maintenance is rare. And refuel cost is outstanding. The only extra is a monthly carwash subscription.
I've known people whose car payment alone is about $900/mo, not including the other costs.
For some people, it would make more sense to Uber and Lyft everywhere and rent a car for busy days.