#N12BK: Commuting costs

Posted: Updated:
NEW YORK -

Your Uber habit may be more expensive than owning your own car.

A new study from AAA looked at the cost of ride-hailing reliance compared to car ownership.

The study factored in the cost of fuel, insurance, parking and the vehicle itself, and figured the average city-dweller drives almost 11,000 miles a year

The study found that the cost of relying exclusively on ride-shares would cost just over $20,000 annually in New York

The average annual cost of car ownership was around $7,300

Of course, monthly MetroCards are the most cost-effective mode of travel in the city, but if you're in the market for a car, AAA recommends buying used cars since vehicle values quickly depreciate.

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