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CAA Calculator Helps Canadians With Cost of Car Ownership

The Canadian Automobile Association (CAA) has released a driving costs calculator to help Canadians better understand the annual cost of owning and operating a vehicle.

According to CAA, two-thirds of Canadians don’t know the cost of owning and operating a common vehicle for a year.

“In most households, transportation costs are the second-biggest monthly expense,” says Jeff Walker, chief strategy officer, CAA National. “There are several expenses often overlooked when considering purchasing a new vehicle, such as fuel, insurance, maintenance, and licence and registration, which all can add up quickly.”

CAA’s Driving Costs Calculator [1] works with all electric vehicles in addition to traditional gasoline powered vehicles and hybrid cars. On average, the cost of owning and operating a compact gas-powered car is $3,300, according to CAA.

“More and more people are buying or considering buying low or zero emission vehicles,” says Walker. “CAA’s Driving Costs Calculator helps Canadians compare the long-term costs, including environmental costs, of owning an electric or hybrid versus a gas vehicle.”