auto IQ
Car Cost Calculator
uncover the true costs of owning
and maintaining a vehicle
A vehicle, new or used , is a major
investment. But there’s more to that
investment than the sticker price.
Knowing the real costs of owning and
operating a vehicle can help you bud-
get better, and make smart decisions
the next time you buy a car.
CAA’s Driving Costs Calculator
breaks down the true expense of
hundreds of makes and models
by showing their average costs for
maintenance, gas, insurance and
depreciation. The tool also allows you
to compare between vehicles. Recent
upgrades include hybrid and electric
vehicle listings, plus more frequent
cost updates.
“Many Canadians underestimate
the cost of owning a vehicle,” says Jeff
Walker, chief strategy officer at CAA
National. A recent CAA poll shows that
two-thirds of Canadians think they
spend more on groceries than they do
on their cars. In reality, the average
cost to own and operate a car for a year
is $9,500—whi le the average Canadian
spends about $5,400 on groceries.
“Your car is roughly double the cost
of your grocery bill,” Walker says.
Depreciation costs are often the
biggest surprise. Most Canadians are
blindsided by how much value their
vehicle loses in a year. The impact is
felt most on new vehicles, which can
depreciate by 20 percent or more in
their first year.
CAA’s Driving
Costs Calculator helps
you build a unique profile
for your driving lifestyle.
Choose your province, car
make and model, and how much
you expect to drive in a year to get
an annual cost. Then add fuel costs,
depreciation, maintenance, insurance
and other fees. The calculator also
provides the environmental cost
in greenhouse gas emissions and
compares it with the most fuel-
efficient vehicle in the same
category—a great feature
for anyone looking to
reduce their carbon
footprint.
“The calculator makes
your cost as accurate and
as personal as possible,”
Walker says. “For exam-
ple, you can change
your percentage of
highway versus city
driving or tweak gas
prices and insurance
costs to see how they
impact your annual cost
to operate.”
caask.ca/carcosts
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CAA saskatchewan
summer 2018
17