From Compact ($7,600/yr) to Luxury ($12,100/yr) — here's what each car type actually costs to own.
| Car Type | Fuel / Charging | Insurance | Maintenance | Depreciation | Annual Total |
|---|---|---|---|---|---|
| Luxury Sedan | $1,371 | $1,875 | $1,920 | $6,600 | $12,100 |
| Pickup Truck | $2,133 | $1,700 | $1,520 | $5,400 | $11,153 |
| SUV | $1,477 | $1,375 | $1,420 | $4,200 | $9,572 |
| EV | $480 | $1,625 | $1,120 | $5,200 | $9,475 |
| Sedan | $1,200 | $1,200 | $1,320 | $3,600 | $8,940 |
| Compact | $1,067 | $1,100 | $1,220 | $3,010 | $7,967 |
Based on 12,000 miles/year, US national average rates. Actual costs vary by state and driving habits.
EVs cost just $480/year to charge vs $1,200+ for gas cars. But they depreciate faster — a Tesla Model 3 loses ~$5,200/year in value. Net result: comparable to a mid-range sedan.
Across all car types, depreciation is the #1 cost — accounting for 35-55% of total ownership expenses. A luxury car loses $6,600/year just sitting in the driveway.
A compact car saves $4,000+/year vs a luxury sedan. The gap comes from lower purchase price (less depreciation), better MPG, and cheaper insurance.
Michigan drivers pay 55% more than Ohio drivers for the same car. Insurance costs can swing annual ownership by $800+ just based on your ZIP code.
Select your car type and state to see personalized costs.
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