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$48,301
- According to Kelley Blue Book, the average transaction price (ATP) for cars in August 2022 was $48,301, a new record.
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Feb 29, 2024 · Learn how to calculate the average monthly cost of owning a car, including loan interest, depreciation, fuel, insurance, maintenance and fees. Compare new and used car payments and see how to save money on car ownership.
Dec 28, 2023 · Find out how much a new car costs on average in the U.S. as of March 2023, based on data from Kelley Blue Book. Compare prices by vehicle category, size and model, and see how COVID-19 and supply chain disruptions affected the market.
- Angelique Cruz
Find the Kelley Blue Book Fair Purchase Price, Fair Market Range and other pricing details for new and used cars. Compare cars by make, model, year and ZIP code and get the best deal.
Feb 15, 2021 · Find out how much it costs to own a car in different states, including car payments, gas, insurance, and replacement parts. See the highest and lowest annual costs, and some interesting facts about car ownership in the US.
- How to Calculate The Cost of Owning A Car
- Expenses to Include in The Cost of Owning A Car
- Gas
- Car Insurance
- Repairs and Maintenance
- Registration
- Taxes
- Parking
- How to Minimize The Cost of Owning A Car
- Refinance Your Car Loan
An easy way to figure out how much owning a car costsis to use a car cost calculator. All you need to do is add up your regular car expenses, like gas and insurance, and you'll see how much you can expect to spend on a monthly basis. You can do this manually or you can find a free online calculator that will do the math for you. If you don't alread...
According to Experian, the average monthly payment for a new car in Q1 of 2022 was $648 per month. However, that's nowhere near the total cost of owning a car. There are several other costs to factor in, including:
Your car's fuel economy rating impacts how much you spend on gas. The higher the rating, the less you spend on fuel. Because gas prices can fluctuate daily, and from one location to another, estimating the cost of gas can be tough. However, the national average gas pricewas $3.189 per gallon over the last year. To calculate your average monthly gas...
Car insurance is one of the biggest expenses associated with vehicle ownership. Car insurance premiums are personalized to each individual, based on factors like: 1. Age: Generally, teenagers and people in their 20s pay the highest insurance premiums. Rates drop as you get older. 2. Credit rating:If you have poor credit, you could pay significantly...
The cost of car repairs and maintenanceis somewhat connected to how often you drive. The more time spent on the road, the more regularly you'll need to service your vehicle. When you own a car, you have to keep up with regular maintenance, like tire changes, oil changes, and brake replacements. Not only do you pay for parts, but auto body shops als...
You must register your car to legally drive it. And like insurance, registration fees vary depending on your location. In some states, the registration cost is a flat fee paid annually or biannually. In other places, the fee is based on factors like how old your vehicle is and its fuel economy.
A handful of states charge property tax on vehicles, so you'll need to see if it's applicable where you live and how much it is. Because car tax is classified as a property tax, the cost depends on your car's value.
Depending on where you work and live, you may need to consider parking costs in your monthly car expenses. Like gas prices, parking costs differ across states and cities. According to 2018 data from Parkopedia, the average monthly parking charges are highest in New York City at $616 and lowest in St. Louis at $85.
Car expenses can take up a significant portion of your monthly budget. Fortunately, there are ways to cut down on car costs, including:
Refinancing can lower interest rates or extend your loan term, which can lower your monthly payment. Refinancing can be especially beneficial if your credit score has improved after purchasing the car.
- Finance & Insurance Editor
Jul 14, 2023 · According to Kelley Blue Book, the average transaction price (ATP) for cars in August 2022 was $48,301, a new record. Vehicle inventory has improved since the pandemic, but demand and prices are...
Oct 15, 2021 · For the first time ever, the average price of a new car has edged past $47,000, according to a new report from Kelley Blue Book and data from TrueCar, a CR partner that provides market analysis...