Just because you like a car does not mean you should get it; instead get a car you can afford and maintain without straining your budget. Many people, when getting cars, are more fixated on the price tags, forgetting to calculate how much the car will take out of their pockets every month. We came up with a list of expenses you should bear in mind when getting a car.

  • Maintenance and repairs cost. You should be aware that you need to schedule regular maintenance checkups that are guaranteed to cost you. Tires can easily be overlooked, but in every four years, you should be able to change all your tires.
  • Fuel. Get a car that has decent gas mileage or else you might end up spending a lot on gasoline.
  • Taxes and fees. You need to pay local taxes, registration fees, license, title fees and many more other fees.
  • Insurance. Your safety and the safety of your car should be a priority.

Lastly, we would recommend you calculate the value of all these costs before getting the car.

Categories: Finance