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The cost of owning a car is up about 2% over last year, driven largely by higher maintenance costs. Maintenance costs rose as extended warranty policy prices went up due to more people filing claims. Insurance, fuel, depreciation costs also went up; the cost of tires was unchanged at 1 cent per mile.
The driver of an average sedan can expect to spend 58 cents a mile, or about $725 a month, on car expenses, the auto club said. That adds up to $8,698 annually. The numbers are based on a motorist driving 15,000 miles annually.