Printer Friendly

DESPITE NEW CAR PRICE HIKES, DRIVING COSTS DROP, AAA SAYS

 ORLANDO, Fla., Feb. 24 /PRNewswire/ -- Despite an average $270 jump in the price of a new American car, motorists won't have to pay more to own and operate that vehicle in 1993, reports the American Automobile Association.
 According to the 1993 edition of AAA's "Your Driving Costs," motorists who drive 15,000 miles a year will pay an average $5,804 in ownership and operating expenses -- down $16 from 1992. The average cost per mile dipped .1 cent to 38.7 cents.
 AAA's driving cost estimates are based on computations made by Runzheimer International of Rochester, Wis., a management consulting firm specializing in transportation, travel and living costs.
 Two factors contributed to the decrease in 1993's driving costs: higher insurance deductables and lower finance charges.
 To help control expenses, motorists are raising their comprehensive insurance deductible from $100 to $250 and their collision insurance deductable from $250 to $500, AAA said.
 Driving costs last decreased in 1984, dropping $120 to $3,450. The cost per mile that year fell .8 cent to 23 cents.
 The average per mile cost of gas, oil, maintenance and tires is up .2 cent from 1992, to an average 9.2 cents this year.
 AAA's driving costs are based on a composite national average for operating three domestically built passenger cars: a subcompact Ford Escort LX, a mid-size Ford Taurus GL and a full-size Chevrolet Caprice.
 These vehicles are equipped with air conditioning, automatic transmission, AM/FM stereo, cruise control, power disc brakes, power steering, rear window defogger, tilt steering wheel, tinted glass and emission equipment in California.
 According to "Your Driving Costs," 1993 average driving expenses varied from a year ago as follows:
 -- Depreciation increased $113, from $2,717 in 1992 to $2,830 in
 1993.
 -- Vehicle maintenance costs rose .2 cent per mile, from 2.2 cents
 in 1992 to 2.4 cents in 1993.
 -- Tire costs have remained unchanged at .9 cent per mile since 1989
 at .8 cent.
 -- Taxes, license and registration costs were up $4, from $174 in
 1992 to $178 in 1993.
 -- Total insurance costs including collision, comprehensive and
 property damage/liability fell $43 from $787 in 1992 to $744 in
 1993.
 -- Finance rates dropped from 12 percent to 10 percent over four
 years with a 20 percent down payment. This dramatically reduced
 the annual cost of a loan, from $796 in 1992 to $670 in 1993, a
 $126 savings.
 This year's "Your Driving Costs" includes ownership and operating costs for a 1993 Chevrolet S10 pickup truck and Dodge Caravan SE, although these figures are not part of the composite national averages.
 "Your Driving Costs" is available through most of AAA's 139 affiliated clubs in the United States and Canada. Single copies can also be obtained by sending a self-addressed, stamped, legal-size envelope to: Your Driving Costs -- Mailstop 300, Box 75, 1000 AAA Drive, Heathrow, FL 32746-5063.
 AAA is a not-for-profit federation of 139 motor clubs with more than 1,000 offices providing its 34 million members in the U.S. and Canada with travel, insurance, financial and auto-related services.
 -0- 2/24/93
 /CONTACT: Jerry Cheske or Geoff Sundstrom of American Automobile Association, 407-444-8000/


CO: American Automobile Association ST: Florida IN: AUT SU:

JB-JJ -- FL002 -- 9729 02/24/93 07:59 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 24, 1993
Words:544
Previous Article:BUILDERS URGE ACTION ON ESCALATING LUMBER PRICES
Next Article:MAC FRUGAL'S BARGAINS - CLOSE-OUTS INC. ANNOUNCES CHRISTMAS STORE EXPANSION
Topics:


Related Articles
AAA RATES TWO DOMESTIC CARS BEST NEW MODELS UNDER $15,000
Second-hand? Add five grand.
AAA Reports Average Driving Cost is 56.2 Cents Per Mile for 2004.
AAA Reports 2005 Driving Costs Nearly Unchanged From 2004.
Despite Higher Gas Prices, Driving Costs Nearly Unchanged From 2004.
Cost of driving up to 52.2 cents a mile.
AAA Chicago Projects Robust Thanksgiving Weekend Travel.
Despite Lower Fuel Prices, Costs To Own, Operate Vehicle Remain Constant.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters