When it comes to owning a car, there are many costs associated with it that are not typically associated with owning a car. In this article, we will explore five of these costs and why they might be important to you as a car owner.
Tax
If you’re thinking about buying a car, there are a few things to keep in mind. Car ownership can have a number of costs, like taxes and insurance. In this article, we’ll explore which of the following is not typically associated with owning a car: fuel.
Maintenance
When you own a car, you typically have to pay for regular maintenance and repairs. This could include things like oil changes, tire rotations, and tune-ups.
In some cases, you may be able to get your car serviced at a discount if you have a loyalty card or membership in a service club. But even if you don’t have any special discounts, it’s often worth it to take care of your car yourself because it will last longer that way.
Insurance
Some people think that buying a car is a major expense, while others believe it’s something that comes with the territory. Which of the following is not a cost typically associated with owning a car?
The cost of insurance.
Gas
A common cost that is not typically associated with owning a car is fuel.
Vehicle Accidents
According to the National Highway Traffic Safety Administration, car accidents are the leading cause of death for Americans aged 16-34. In fact, more than 1.3 million people were killed in car accidents between 2006 and 2011. That’s about one death every 20 minutes!
Given this staggering statistic, it’s important to be aware of some of the costs typically associated with owning a car. Here are five:
1. Vehicle depreciation. The value of your car will decrease as time goes on due to wear and tear. This can lead to a loss in equity if you don’t have any other investments tied up in the vehicle.
2. Gasoline costs. If you drive your car regularly, you’ll need to budget for gas expenses. Depending on the type of fuel you use, this could cost anywhere from $0.50 to $3 per gallon.
3. Maintenance costs. Car repairs can cost a lot of money, particularly if they’re needed frequently or if they require special equipment or expertise. Throw in regular oil changes, tune-ups, and new tires and you’ll be looking at an expense that could easily top $1,000 per year.\
Conclusion
Owning a car is often seen as a cost typically associated with being in the middle class or higher. However, there are a number of costs that come with owning and operating a car, some of which might surprise you. For example, not only do you need to factor in the price of the vehicle itself, but you also need to factor in things like fuel, parking fees, and insurance premiums. If you’re looking to downsize your living space or live more sustainably, it might be worth considering opting out of the car-owning lifestyle altogether.