# The hidden bill of owning a car

> Car costs are climbing far beyond gas, with repairs, insurance, and aging vehicles squeezing drivers hardest.
- Title: The hidden bill of owning a car · CBS News | Shortify
- Summary: Car costs are climbing far beyond gas, with repairs, insurance, and aging vehicles squeezing drivers hardest. The biggest shock in car ownership is not fuel…
- Keywords: cars, inflation, repairs, insurance, gas prices, news, hidden, bill, owning, car, CBS News
- Source: CBS News — https://cbsnews.com/news/car-ownership-auto-repair-costs-inflation
- Author: Mary  Cunningham
- Published: 2026-09-15T21:31:00+00:00
- Read time: 1 min
- Topics: cars, inflation, repairs, insurance, gas prices, news
## Gas is not alone
Drivers are paying more at the pump as the Iran war pushes fuel prices higher. But fuel is only one piece of a much bigger car bill.
## Ownership costs jumped
Navy Federal Credit Union found that car ownership costs have risen 50% since 2020, making vehicles a major source of household inflation pain.

> The rising cost of car ownership has been the big shocker of the inflation crisis
## Repairs hit hardest
Repair costs have surged 70% in five years. AAA says repairs average about $1,750 for a new car during the first five years of ownership.

> Repair costs can be hundreds of dollars, if not thousands of dollars
## Insurance adds pressure
Insurance and routine maintenance are also driving the burden higher. In 2026, full coverage averages $2,124 a year, while minimum coverage averages $816.
## Older cars cost more
Americans are keeping cars longer, which often means bigger service bills. The average U.S. passenger car was 14.5 years old in 2025.
## Mechanics have pricing power
Modern cars rely on more electronics and sensors, which cost more to fix. A mechanic shortage is also giving shops room to charge more.

> Good mechanics can really write their own price these days
## Key takeaway

The biggest shock in car ownership is not fuel, it is the rising cost to repair and maintain older, more complex vehicles.