Car expenses: How much does it cost to maintain a car?
How much does a car really cost us?
The star question that the vast majority of people ask themselves when they are preparing to buy a car (whether new or second-hand) is undoubtedly how much does it cost? and what expenses does a car have? Virtually everyone focuses on the price of the car and not on the expenses of the car, such as car maintenance, car insurance and the repairs that we have to carry out in the car workshop. Urgent money is often required to cover the costs of an unforeseen breakdown.
All those mentioned above are fixed costs that are intrinsic to buying a vehicle, without forgetting of course that our new car has to be well fed and gasoline is not exactly cheap.
In this article, MoneyMan will show us in this article, how although it may seem like it, the price of the car is not the most important variable to take into account when we make the decision to purchase our own vehicle. The expenses of the car that may arise once it has been purchased, can be relevant.
Car expenses that (even if you want to) you will not be able to escape:
It is mandatory, the law requires that if you are the owner or owner of a vehicle, it has insurance in the event of a claim.
The average price of car insurance is around $600 / year. Although it depends on the type of policy you hire, you can find them cheaper and more expensive. The price depends on several variables, including the type of vehicle, the age or the risk of an accident on the part of the driver. Anyway, it is a good part of the annual expense of a car.
Like all machines, vehicles require a tune-up from time to time. To the change of oil and wheels, unforeseen expenses can be added that can give us a real disappointment.
If we carry out an annual review, changing tires and oil, we will spend about $350 each year.
Just as humans need food for energy, our car needs fuel to run. If you want to be able to use the car you have bought, you will need to add gasoline (or diesel, depending on the model) yes or yes.
This expense varies depending on what you use your vehicle, we will set an average expense of $140 per month.
Registration fees are another expense for drivers. You can either get your rego for 6 months or 12 months. Depending on your third party insurance, it may cost you from any where $600 to +$1500.
If you are selling your car due to high maintenance costs, you can consider selling it at Cars Wanted Newcastle. We provide our cash for cars service throughout Newcastle regions and still expanding to cover Sydney areas. Some companies only offer free removal of cars but at Cars Wanted Newcastle you get cash up to $8999 on the spot.