Heather Long: Cost of car ownership in U.S. rises 41% since 2020

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18.03.2026

Heather Long: Cost of car ownership in U.S. rises 41% since 2020 — Car ownership costs jump 41% in U.S.

The cost of purchasing and owning a car in the U.S. has surged since the pandemic, according to Heather Long. She highlights new data showing Navy Federal's Cost of Car Ownership Index is up 41% since January 2020, a higher rise compared to the 26% increase in CPI and a 31% uptick in wages for the same period.

Almost every aspect of the car ownership experience, from buying and insuring to repairing vehicles, has seen significant price increases.

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The rapid escalation in vehicle-related expenses reflects broader economic pressures that continue to shape consumer behavior across the United States. These trends align with patterns seen in the labor market, as evidenced when the U.S. economy registered a notable loss of 92,000 jobs in February. At the same time, the interplay between rising ownership costs and price stability becomes more apparent against the backdrop of stubbornly persistent inflation, underscoring the multifaceted challenges facing American households.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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