6.8% Decline in Annual Automobile Ownership Cost Foreseen in 2020

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Graph Cost of Ownership of a Used Car

6.8% Decline in Annual Automobile Ownership  Cost foreseen in 2020

To understand what the future holds for ownership cost of a vehicle – it helps to look back the cost of automobile ownership over the years. If we look at prior recessions periods we see a 5% drop in Annual “Total Cost of ownership of a vehicle”. This year given lower oil prices and pandemic considerations –   we foresee the annual vehicle  ownership cost to drop to an average of $8,646/ Year.

Graph Cost of Ownership of an Automobile – Variable and Fixed

 

For 2020 we project the Annual Cost of ownership to be  $8,646/year ($720/month) –  including Gas, Insurance, Maintenance, Fixed Payments etc. for an avg of 15,000 miles driven. 

For 2019 the Annual ownership cost was in $9,282 / year ( $773/Month ) – variable and fixed – for an average  of 15,000 miles driven.

CarDr.com foresees a 6.8% Decline in Automobile Prices in 2020

About CarDr.com Inc: CarDr.com Provides Used Car Inspections – Using an Exhaust APP based Inspection performed by Professional Inspectors, overseen by AI that connects to the Vehicle’s OBD and compares the diagnostics to it’s peers.

CarDr.com Inc is a Chicago based company with a National Coverage Footprint. Learn more about our Vehicle Inspection Coverage Area

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Science of Car Inspection

 

 

 

 

 

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CarBlogs

 

CarDr.com Provides Used Car Inspections Nationwide – Using a Exhaust APP based Inspection performed by Professional Inspectors, overseen by AI that connects to the Vehicle’s OBD and compares the diagnostics to it’s peers.

The Graph above is based on Data from the BUREAU OF TRANSPORTATION STATISTICS.The  2020 predictions are forecast based on our internal research of past years

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