Commuting by bicycle costs a fraction of commuting by car. Bicycles don’t require many vehicle ownership costs, such as fuel, annual car registration fees, insurance premiums, or finance charges. However, daily bicycle commuters should buy the essential equipment for a safe ride.
AAA releases an annual Cost Exchange summary detailing the annual cost of owning and operating midsize passenger vehicles (left) and large vehicles (right). In 2018, AAA estimated the average cost of owning a vehicle at $8,849, reflecting a 4% increase from the previous year. The trend in annual costs for midsize and large vehicles has been tracked annually by AAA, and the figures from 2019 to 2023 indicate a consistent upward trajectory. For a detailed visual representation, check the graph below.