Many new cars remain surprisingly expensive, but the type of vehicle you choose could also raise the costs of ownership over time. New data from AAA shows that fuel costs, depreciation, and other expenses make some body styles and fuel types much more expensive to own than others.
AAA’s Your Driving Costs (YDC) analysis found that vehicle owners pay an average of $12,863 per year in ownership costs, which breaks down to $1,071.92 per month, an increase from the 2025 YDC average of $11,577. This year’s study added electric vehicles (EVs) and hybrids to the mix, and the findings aren’t all that surprising.
The 2026 YDC’s numbers were based on average regular fuel costs of $4.152 per gallon and electricity costs of $0.18 per kWh. AAA noted gas prices increased 31.8% from the previous year, while electricity prices climbed 7.8%, making EVs slightly cheaper from a fuel-only standpoint.
Related: Everything You Need to Know About Gas Prices and Fuel Economy
The study included other factors, such as depreciation, but the real winners were hybrids. Electric vehicle charging costs were up to 70% lower than gas prices, but EVs depreciate faster than gas models, making them more than $3,000 pricier to own per year.
On the other hand, hybrids “combined meaningful fuel savings with smaller ownership-cost tradeoffs, costing less annually than gas-powered models in medium sedans, compact SUVs, medium SUVs, and pickup trucks.”
Your Driving Costs · 2026
Cost per mile at 15,000 miles driven
| Vehicle Type | Electric | Gas | Hybrid |
|---|---|---|---|
| Medium Sedan | $0.911 | $0.705 | $0.680 |
| Compact SUV | $0.793 | $0.777 | $0.747 |
| Medium SUV | $0.955 | $0.962 | $0.913 |
| Pickup Truck | $1.161 | $1.108 | $1.074 |
Lowest cost per mile in each vehicle class
Cost per mile = total cost per year ÷ total miles per year. Source: AAA Your Driving Costs, 2026.
Looking at individual vehicle categories, hybrids came out on top across the board, while depreciation costs made EVs the most expensive in the study. If you’re looking to save money on ownership costs, it’s important to consider the full picture, not just fuel savings or the purchase price. Your commute, ability to charge at home, local gas and electricity prices, and other factors can make one vehicle type far pricier than others, so take the time to do your homework.
