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How much does your car really cost?

How much does your car really cost?

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The Canadian Automobile Association (CAA) has developed a free online tool that will allow drivers to calculate the real cost of owning and operating a vehicle.

The calculator provides yearly figures -- by vehicle make, class, and province -- for everything from gas bills to licence fees and depreciation, not to mention insurance and maintenance.

“A vehicle is the second-largest expense most people have, but a lot of us (Edit: 4 out of 5, according to an Ipsos Reid survey) are not taking into account all the expenses associated with car ownership,” says Jeff Walker, CAA vice president of public affairs.

Users can input their own information or use representative figures supplied by CarDATA Consultants Inc. to get a very good estimate of their annual driving costs. The calculator also displays the annual greenhouse gas emissions for the vehicle selected.

Go to the Driving Costs calculator (caa.ca/drivingcostscalculator) to find out the actual cost of your vehicle.

Source : CAA-Québec