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CAA releases Driving Costs Calculator
By Adnews Staff
The Ottawa-based Canadian Automobile Association has released a new online tool intended to raise awareness of the cost of owning and operating a vehicle. The tool, located at <https://www.caa.ca/carcosts>, allows consumers to calculate the cost of owning and operating their vehicle for a year. The system includes information on various common vehicles, including hybrid and electric cars. The calculation includes factors such as fuel, insurance, maintenance, licence fees and depreciation. The information is provided by automotive data firm Vincentric.
"In most households, transportation costs are the second-biggest monthly expense," said Jeff Walker, national chief strategy officer at the association. "There are several expenses often overlooked when considering purchasing a new vehicle. CAA's Driving Costs Calculator helps Canadians compare the long-term costs, including environmental costs, of owning an electric or hybrid versus a gas vehicle."