Canadian Automobile Association (CAA)

Canadian Automobile Association (CAA)

May 20, 2009 09:02 ET

2009 CAA Driving Costs Brochure Now Available

OTTAWA, ONTARIO--(Marketwire - May 20, 2009) - CAA is pleased to announce the release of the 2009 edition of its popular Driving Costs brochure.

The brochure is designed to offer consumers a comprehensive look at the price of owning a vehicle in Canada and explores the costs of such things as maintenance, fuel, tires, insurance, license fees and registration, depreciation, and financing.

"With the recent economic struggles that many Canadians are facing, it's important for consumers to have a better understanding of their large-scale costs so that they can figure out ways to save hard-earned cash," says Tim Shearman, president of CAA. "Many of us underestimate the day-to-day costs of vehicle ownership."

To illustrate his point, Mr. Shearman notes the annual cost of driving a 2009 Chevy Cobalt - one of the comparison vehicles used in the brochure - works out to $6,516 a year, that's a whopping $17.85 a day when you factor in insurance, license fees, depreciation, and financing. The cost rises to $23.63 a day when a 2009 Dodge Grand Caravan is used as a comparison vehicle.

"There are certain costs you can't really do anything about, but there are many costs that can be trimmed by using smarter driving practices," says Shearman. "For example, a new set of tires can cost nearly $1,000, but if you keep your speeds down, keep your tires properly inflated, and avoid hard cornering and quick stops, you can easily stretch out the lifespan of those tires."

Shearman notes that there are other ways that motorists can cut costs, some of which include driving with the windows down at low speeds in the summer instead of using AC, and keeping your vehicle properly maintained.

"Regular maintenance of your vehicle not only trims down on depreciation, but it reduces heavier maintenance costs later on," says Shearman. "Cutting back on vehicle maintenance costs now may seem like a way of saving cash immediately, but it will come back to haunt you later on."

The 2009 CAA Driving Costs brochure is based on data from Runzheimer International Inc., a management consulting firm dealing in business vehicle allowance programs and fleet consulting services. Vehicle ownership cost estimates for 2009 are based on data obtained up to December 2008.

To access CAA's 2009 Driving Costs brochure, please visit: http://www.caa.ca/publicAffairs/public-affairs-reports-e.cfm.

About the Canadian Automobile Association (CAA)

CAA is a federation of 9 automobile clubs serving 5.3 million members through 148 offices across Canada. CAA provides a wide range of member services and works to improve travelling and motoring conditions at home and around the world, including national advocacy efforts on both traffic safety and public policy issues that affect Canadian motorists.
www.caa.ca

Contact Information

  • Canadian Automobile Association (CAA)
    Dean Morin
    Communications Manager
    613-247-0117 ext. 2026
    dmorin@national.caa.ca