The true cost of owning a car includes upkeep, gas, taxes, insurance and deprecation. Due to a rocky economy and rising inflation, car ownership costs have been steadily increasing. According to AAA, the average cost to own a car was $9,666 in 2021 and grew to $10,728 in 2022. The cost of taxes and gas are out of your control, but consulting with your insurance agent about discounts and other ways to lower your car insurance policy may help you save money.