If you are in the midst of purchasing a car, chances are your head is spinning. You may still be narrowing down your favorite vehicle choices and trying to figure out just how much each one will cost you. While it’s easy to just look at the purchase price, that’s not the only cost you need to factor into your analysis of vehicle expense. Here are a few others that are key to consider:

Fuel. Gas prices may vary considerably over the time that you own your vehicle, but it is one expense that you are guaranteed to have so make sure you take it into consideration when deciding whether you really need a bigger engine or an SUV.

buy car online tipsReliability. A car that has a better track record for reliability should keep your repair expenses down over the years. It also may allow you to keep this vehicle for longer, delaying your timeline for needing to purchase your next vehicle. Make sure to check out Consumer Reports for information on your model’s reliability ratings.

Insurance. Like fuel, insurance is another monthly bill that is required for car ownership. Before you make a final decision on your purchase, call your insurance provider and get quotes on some of the models you’re looking at to understand whether one will cost significantly more or less to insure.

Financing. If you are financing your car, there is no question that the rate at which you secure your loan will have a huge impact on your monthly payment. Make sure you don’t just rely on the dealer’s financing offer. In the end, they may offer the best rate or option, but be sure to check with your bank or credit union as well to ensure that’s the case.

 

Comments

Comments are closed.