Low gas prices, low loan rates cut car ownership costs

Low gas prices, low loan rates cut car ownership costs
[![Car ownership costs are down, according to AAA.](http://buyersguide.carsoup.com/wp-content/uploads/2015/06/Low-gas-low-rates-story.jpg)](http://buyersguide.carsoup.com/wp-content/uploads/2015/06/Low-gas-low-rates-story.jpg)Car ownership costs are down, according to AAA.
Low fuel prices and low interest rates are driving down overall car ownership costs, according to AAA’s annual “Your Driving Costs” study, which was recently released.

Even though prices have surged a bit, a gallon of gas nationwide is still more than $1 cheaper than it was a year ago, and that, plus cheaper financing, drove ownership costs for the average sedan down to $8,698, AAA reports. That’s $178, or 2 percent less than a year ago.

AAA calculated annual driving costs over 15,000 miles per year in small, midsize and large sedans to arrive at its overall average. The agency also calculated rates for minivans and four-wheel-drive SUVs, finding both segments fell even more (4 percent) in annual driving costs than sedans.

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