How much does it cost to own a car in 2014?

You’re paying more for a summer barbecue, a fast-food burrito and a fresh Netflix subscription this year, but behind the wheel you’re getting a bargain.

That’s because it’s actually gotten cheaper to own a car, according to a fresh explore by AAA. It now costs an average of $8,876 to own and drive a typical sedan, or Two.7 percent less than the $9,122 it cost last year.

Why the drop in price? It’s mostly because gas was expected to be cheaper. AAA based its explore on a per-gallon rate of $Three.278, which was the price in late 2013. That compares with the $Three.486 used in last year’s report. Drivers are also watching lower costs for tires, insurance and depreciation than in the past, John Nielsen, AAA managing director of automotive engineering and repair, told CNBC.

Of course, gas prices are now higher than the rate AAA factored into its report. The average price for a gallon of regular is $Three.652 nationwide, compared with $Trio.576 a year ago. Unless that switches dramatically, AAA’s cost estimate for two thousand fourteen may come in on the low side.

AAA also factors other expenses in for its report, including routine car maintenance, tire replacement, depreciation, financing and licensing, registration, and taxes. It also adds in the typical insurance paid by a married 47-year-old man with a good driving record who lives in a petite city and who drives three to ten miles daily to work.

In brief, estimating the cost of possessing a car isn’t an exact science. But AAA develops the report to help people make better car-buying decisions and to help them budget for annual vehicle costs. It’s been publishing its “Your Driving Costs” report since 1950, when gas sold for twenty seven cents a gallon.

This year’s costs vary depending on the size of the vehicle and how much gasoline it consumes. Here’s the breakdown of the different categories and their annual costs, according to AAA:

Typical model: Chevrolet Cruze, Ford Concentrate or Honda Civic

Cost per mile for gas, maintenance and tires: 16.Trio cents

Total cost per year (assuming 15,000 miles driven a year): $6,957

Typical model: Ford Fusion, Honda Accord or Toyota Camry

Cost per mile for gas, maintenance and tires: Nineteen.1 cents

Total cost per year (assuming 15,000 miles driven a year): $8,839

Typical model: Chrysler 300, Ford Taurus or Nissan Maxima

Cost per mile for gas, maintenance and tires: 21.7 cents

Total cost per year (assuming 15,000 miles driven a year): $Ten,831

Typical model: Ford Explorer, Jeep Grand Cherokee or Nissan Pathfinder

Cost per mile for gas, maintenance and tires: 23.8 cents

Total cost per year (assuming 15,000 miles driven a year): $11,039

Typical model: Dodge Grand Caravan, Honda Odyssey or Kia Sedona

Cost per mile for gas, maintenance and tires: 21.Four cents

Total cost per year (assuming 15,000 miles driven a year): $9,753

Kim Peterson is a financial journalist covering business and the economy. She has written for several online and print publications, including MSN Money and The Seattle Times.

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