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AAA: Ride-sharing services like Uber, Lyft cost more in long run than car ownership

Posted: 12:50 AM, Aug 21, 2018
Updated: 2018-08-21 04:50:09Z
AAA: ride-sharing costs more than car ownership
AAA: ride-sharing costs more than car ownership

A new study shows that using ride-sharing services can end up costing more than owning a car in the long run.

The AAA Foundation for Traffic Safety says the average driver in cities drives about 10,841 miles every year. Using ride-sharing services like Uber or Lyft to go that distance would cost $20,118 annually. AAA estimates that would cost about twice as much as owning a car, including gas, maintenance, insurance and parking costs.

The AAA study looked at 20 major cities and found that Boston, Nashville and Philadelphia had the highest average annual ride-sharing costs, coming in at $27,545, $26,397 and $23,201, respectively. Buffalo was not part of the study.

AAA recommends that drivers save money by driving slower to conserve gas, fuel responsibly, and regularly take your car in for routine maintenance to avoid high repair costs.

 

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