More Than the Sticker Price: The Cost of Car Ownership

Buying a car typically means saving, planning and budgeting for the ride of your dreams. But owning a car costs more than just the dealer's sticker price. Here are a few more routine expenses that you should factor into the total cost of car ownership.

  1. Fuel. How much you spend on gasoline will depend on several factors, including where and how often you drive, your vehicle's average fuel efficiency and the ever-fluctuating price of gas in your area.
  2. Car insurance. Nearly every state in America requires motorists to carry insurance for liability and property damage, with several states also requiring coverage in case of injury by an uninsured motorist. Often paid in monthly or 6-month premiums, the cost of insurance is determined by a host of factors like the driver's age, gender, driving history, type of vehicle and the vehicle's zipcode. Find the best rate by obtaining several quotes from various insurance providers. 
  3. License and registration. You can't legally operate your automobile until it's titled and registered in your home county. Renew your registration annually, and be aware of any additional steps required in your state or county such as vehicle inspections and emissions testing.
  4. Routine maintenance. Regular oil changes and other maintenance as recommended in your vehicle owner's handbook can add years of trouble-free driving to your car. You should also budget for the eventual replacement of components that experience everyday wear-and-tear, like tires and brake pads.
  5. Roadside assistance. The peace of mind of an auto club membership pays for itself if you find yourself having car trouble. In addition to towing and discount pricing at qualified repair shops, an auto club membership can also assist you with travel planning and discounts at favorite stores.

When you're ready to talk about your next car, get in touch with us, and we'll help you find what you're looking for at a price that'll keep you happily on the road.

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