By Megan Hansen
That’s according to a new report out today by AAA, which says the average driver spends nearly $8,500 a year. Spokesman Matt Skryja says the increase in gas prices is impacting how much a vehicle is worth.
That’s according to a new report out today by AAA, which says the average driver spends nearly $8,500 a year. Spokesman Matt Skryja says the increase in gas prices is impacting how much a vehicle is worth.
Skryja: “Depreciation values are being affected by the price at the pump, and that’s because the cars that are more fuel efficient are more desirable, therefore they hold their value longer.”
Skryja says large vehicles like SUVs and minivans – which usually get fewer miles to the gallon – are seeing their values drop more quickly than small sedans.
The report also says the annual cost of driving an SUV is now around $11,000…more than $800 higher than last year.
The average price of gasoline in California has increased by 88 cents from this time last year to around $3.08 a gallon.
In Sacramento the average price has increased by 77 cents to $3.09 a gallon.
