Drivers Underestimate the Annual Cost of Car Ownership by More Than $4,500, New Synchrony Survey Finds

Synchrony’s (NYSE: SYF) new Cost of Car Ownership survey reveals drivers are paying nearly 167% more per year than expected to keep their current vehicles on the road.1 This $4,565 discrepancy between estimated and actual costs could place an additional burden on household budgets and weigh on consumer spending in other categories.