Automotive
Rising ownership costs outpace gasoline prices for drivers, report says
Ownership expenses including insurance and repairs surpass pump costs, according to Jalopnik.
The short version
- Drivers face major cost increases from insurance, repairs, and financing rather than pump prices alone.[Jalopnik]
- Insurance costs have risen between 43% and 56% since 2021-2022, while average check-engine repair bills jumped 33% to $554 in 2026.[Jalopnik]
- Auto loan interest averages 6.39% for new vehicles and 11.43% for used cars, leaving one in five borrowers paying at least $1,000 monthly.[Jalopnik]
- Automakers continue to navigate supply headwinds, with Ford projecting chip expenses will rise by $1 billion in 2026.[Jalopnik]
Key facts
- AAA reported the national average gasoline price stood at $4.10 per gallon.[Jalopnik]
- Average car insurance premiums climbed 43% from $1,567 at late 2021 to $2,237, according to Insurify.[Jalopnik]
- The Bureau of Labor Statistics registered a 56% increase in vehicle insurance costs measured from 2022.[Jalopnik]
- The average check-engine repair cost rose 33% year-over-year to $554 in 2026 according to CarMD.[Jalopnik]
- Experian data shows auto loan rates average 6.39% on new vehicles and 11.43% on used vehicles.[Jalopnik]
- One in five car loan holders pays at least $1,000 monthly to service vehicle debt according to LendingTree.[Jalopnik]
What remains uncertain
- Insurance data varies by source and geography, with Insurify showing rate declines in 39 states last year despite national multiyear increases.[Jalopnik]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.