* Vehicle type: A large SUV will obviously cost more per mile than a small, fuel-efficient sedan. Even within categories (e.g., "sedan"), size and features dramatically impact costs.
* Fuel prices: Fluctuations in gas (or electricity) prices directly impact the cost per mile.
* Insurance: Insurance premiums vary greatly based on driver profile, location, and the vehicle's value and insurance group.
* Maintenance and repairs: Some vehicles are more reliable and require less maintenance than others. Older cars will generally cost more to maintain than newer ones.
* Financing costs: If you're financing the car, your monthly payments contribute to the cost per mile.
* Depreciation: The car loses value over time; this is a significant cost, especially in the early years.
Instead of providing inaccurate averages, let's look at the major cost components and how they influence the cost per mile for different *general* car categories:
Cost Components:
* Fuel: This is heavily dependent on fuel efficiency (MPG) and fuel prices. A high MPG car will have a lower fuel cost per mile.
* Maintenance & Repairs: This is difficult to average, but expect higher costs for luxury or complex vehicles. Regular maintenance (oil changes, tire rotations) is essential to minimize larger, unexpected repairs.
* Insurance: Insurance premiums vary wildly, but generally, larger, more expensive vehicles have higher premiums. Higher-performance cars often cost more to insure.
* Depreciation: This is a major expense, particularly in the first few years. Luxury cars tend to depreciate faster than more economical models.
* Financing: If applicable, your interest payments contribute to the cost per mile.
General Trends (Highly Variable):
* Small Sedans/Hatchbacks: These generally have the lowest cost per mile due to good fuel economy and lower insurance costs.
* Mid-size Sedans/SUVs: A moderate cost per mile, balancing fuel economy and other expenses.
* Large SUVs/Trucks: Typically have the highest cost per mile due to poor fuel economy, higher insurance, and more expensive maintenance.
* Luxury Vehicles: High initial cost, higher insurance, and potentially higher maintenance expenses translate to a significantly higher cost per mile.
* Electric Vehicles: Fuel costs are lower (electricity vs. gasoline), but battery replacement can be extremely expensive later in the vehicle's life. Maintenance can also be higher due to specialized components.
To find your own cost per mile:
The best way to determine your car's cost per mile is to track your expenses over a year. Include fuel, insurance, maintenance, repairs, and depreciation (estimate the annual depreciation based on the car's value). Then, divide the total cost by the number of miles driven.
In short, while broad generalizations can be made, accurate cost-per-mile figures require specific data for the individual vehicle and its usage.
