August 18, 2011

Forget the Price of Gas: What Does it Really Cost to Drive Your Car?

I happened to notice that gas had dropped about 10 cents per gallon here in northern California. Of course, when we fill up the tank, we notice that the cost of driving is expensive; however, there are many more costs that contribute to our expensive driving habits such as insurance, water pollution, CO2, etc.

The True Cost of Driving helps you calculate the actual costs of driving your vehicle.

When considering the cost of driving, most people think only about how much they pay for gas. Drivers also pay to buy and maintain a car, including tune-ups, oil and tires, as well as for insurance, registration, and parking.

Indirect costs of driving, such as road construction and maintenance, add to drivers' financial burden through taxes and fees. In addition, there are quality of life costs that drivers and non-drivers alike pay to support automobile transportation. Though challenging to quantify, these added impacts include air pollution, traffic congestion, and health care.

Use this educational tool to calculate both your out-of-pocket Direct Driver's Expenses and the Indirect Costs of your driving habits. Once you consider the true cost of driving alone, other transportation options such as carpooling, vanpooling, riding the bus, walking, riding a bike or telecommuting may look more attractive.

My cost added up to $1.39 per mile or $19,473.30 a year. There are some assumptions and omitted items in this calculator, like variance in state taxes and fuel efficiency, but it definitely gives you an idea of the financial burden of our cars.

Via: MNN

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Posted by Jennifer Lance at August 18, 2011 2:10 AM

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