Ottawa, Ontario – The Canadian Automobile Association (CAA) has released the 2009 edition of its Driving Costs brochure, which offers a comprehensive look at the price of owning a vehicle in Canada.
The brochure explores the costs of such things as maintenance, fuel, tires, insurance, license fees and registration, depreciation, and financing.
“With the recent economic struggles that many Canadians are facing, it’s important for consumers to have a better understanding of their large-scale costs so that they can figure out ways to save hard-earned cash,” said Tim Shearman, CAA president. “Many of us underestimate the day-to-day costs of vehicle ownership.”
Shearman noted that the annual cost of driving a 2009 Chevrolet Cobalt works out to $6,516 per year, or $17.85 a day when factoring in insurance, license fees, depreciation and financing. The cost rises to $23.63 per day when a 2009 Dodge Grand Caravan is used as a comparison vehicle.
“There are certain costs you can’t really do anything about, but there are many costs that can be trimmed by using smarter driving practices,” Shearman said. “For example, a new set of tires can cost nearly $1,000, but if you keep your speeds down, keep your tires properly inflated, and avoid hard cornering and quick stops, you can easily stretch out the lifespan of those tires.”
Other ways motorists can cut costs are by driving with the windows down instead of using air conditioning, and keeping the vehicle properly maintained.
To access the brochure, visit.