How much is your car costing you?

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Ridesharing can save you money in the long run on fuel, maintenance and repairs. According to AAA, the average cost to operate a car in 2018 was $8,849, or about $734 per month. The figure was calculated based on the cost of fuel, maintenance, repairs, insurance, licensing, registration, taxes, depreciation, and loan interest. How much is your car costing you? This gallery takes a look at the different costs associated with owning a car.

Maintenance, Repairs and Tires To keep your car healthy, you need to maintain it. AAA estimates regular maintenance and repairs at $1,186 per year. This amount varies based on your car’s age and how regularly you keep up the maintenance. The older a vehicle, the more likely it is to need expensive ongoing repairs to keep it running. Photo Credit: Thinkstock/Getty Images (Getty Images/iStockphoto/Vasyl Dolmatov)
Fuel We need our cars to take us from point A to B to C, so fuel is an important cost and necessary expense. Even though we pay it out in small amounts over the course of the year, it can add up. AAA estimates fuel cost at $1,500 per year. This amount can vary depending on the type of gas you buy and how much you drive your car. If you have a fuel-efficient car, that number will be lower. If you have a large truck, SUV, or luxury car, the cost can be considerably higher. Photo Credit: Pexels
Insurance AAA estimates the average cost of car insurance to be $1,039 per year. Insurance prices per month can vary depending on a variety of factors, including your age and location. According to, Michigan currently holds the highest car insurance premiums at $2,239 per year and Vermont ranks the lowest at $932 per year. Photo Credit: Thinkstock/Getty Images (Getty Images/iStockphoto/zimmytws)
Licensing, Registration and Taxes This includes the cost of all government taxes and fees payable on the purchase of your car, plus annual fees. The size of your vehicle, age of your vehicle, and local tax laws all come into play. AAA estimates these costs to be $636 per year for a medium-sized sedan. Photo Credit: Thinkstock/Getty Images (Getty Images/iStockphoto/YakobchukOlena)
Finance Costs and Loan Interests AAA estimates the average car loan interest at $597 per year for a medium-sized sedan. These costs are calculated based on a five-year loan on the purchase of a new vehicle with 10% down at the national average interest rate. Photo Credit: Thinkstock/Getty Images (Getty Images/iStockphoto/Tero Vesalainen)
Parking and Tolls The cost of parking and tolls can vary depending on where you live and work. Most parking garages in the DC area range from $5.00 to $22.00 per day depending on how long you stay in the garage and where it is located. The cost of tolls in the DC area can also vary. For example, on the 95 and 495 Express Lanes, the price is dependent on how far you travel and how many cars are on the road. If you got on the Express Toll Lanes in Maryland and took them during rush hour, the cost may be significantly higher than if you took them on a Sunday evening with no traffic. Photo Credit: Pexels

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