Many people know they spend more than they realize on streaming subscriptions, Amazon, food delivery, in-app purchases, Labubus, and salad ingredients. But here’s another big one.
According to a new report, the average American driver underestimates the annual cost of vehicle ownership by $4,565 a year. That’s . . . a lot.
For starters, according to Kelley Blue Book, the average price of a new car hit a record $50,080 in 2025. But that’s just the beginning.
Drivers were asked how much they spend having a car every year, outside of loan and lease payments. And the average response was $2,738 annually.
But the actual yearly total is $7,303. Younger drivers pay even more, around $10,000 per year.
Gas and insurance are the biggest costs, at $1,956 and $1,730, respectively. Other major annual expenses include maintenance ($622), service and repairs ($659), tires ($377), and auto parts and accessories ($240).
There’s also tolls, parking, car washes, plus tickets and citations.
