The cost of owning a car in the United States has risen 50% since 2020, according to an analysis by Navy Federal Credit Union. Higher repair bills, which have increased 70% over the past five years, are the largest contributor, followed by auto insurance, routine maintenance and gasoline. AAA data puts repair costs for a new car at about $1,750 during its first five years, while LendingTree estimates 2026 full-coverage insurance at $2,124 annually. The average U.S. passenger car was 14.5 years old in 2025, and the rising complexity of vehicles and shortage of mechanics are adding to service costs. Gasoline now averages $4.33 a gallon, up 45% since the war with Iran started in late February. AAA estimates that owning and operating a new vehicle costs $12,863 per year, or $1,071.92 per month.