Owning a car can be very expensive. There are many expenses that go into owning a car of your own, but it doesn’t have to completely break your budget. You should think about all of the expenses that go into a car before you choose a car to buy.
The actual car.
The very first expense will be the actual car that you buy. When deciding on the car you will buy, you need to think about the other three expenses below because you may have thought you could afford the car, but once you account for the other options it may not be possible anymore.
Will you buy the car with cash or will you finance the car with a car loan? If you finance the car, you will also have to think about the interest rate you will get on the loan and how much more it will increase your monthly car expenses.
Do not forget about gas! Gas can make or break your car budget. Some cars get 10 miles to the gallon, whereas others may get 50 mile to the gallon. You should think about what you need the car for, whether you should go for something fuel-efficient, and how many miles you tend to drive your car each month.
The next expense relating to having a car that you should think about is maintenance. This includes changing your oil, replacing your tires, rotating your tires, changing the air filter, getting your air conditioning recharged, replacing the windshield wipers, replacing all of the lights on the exterior and interior of the car when they go out, and more.
An expense that you ALWAYS need to pay for is car insurance. You can find car insurance easily such as through Nash Warren Insurance, so do not put this area off.
Car insurance is important just in case something were to happen to your car. You never know if you might accidentally hit something or someone, or if someone may hit you and they might not have insurance. Also, there might a bad storm that damages your car as well.
How much does it cost to own your car each month?
Image via Flickr by Easa Shamih
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