The cost of owning a vehicle or other means of transportation can be astounding. Many people greatly enjoy owning a car, truck, motorcycle or RV. In fact, each of these transportation means is associated with a different stage of life or a different lifestyle. Cars come in a variety of shapes and sizes. As a result, a costly car is more appropriate for a single individual while an inexpensive family car is a great investment for an expanding family. Furthermore, a new car is often the crowning achievement or the symbol that signifies a sought after job promotion or a new addition to a family. In contrast, retirees often invest in a RV in order to fulfill a lifelong dream of traveling across the country. Therefore, it is easy to see that there are a lot of emotions attached to purchasing a new automobile.
It is important to realize that the cost of buying a car differs greatly from the cost of owning a car. When purchasing a car, people usually consider the basics, which include the sticker price, taxes and fees, and registration and insurance. However, long term costs of the car can be far reaching. For instance, a basic oil change can be very costly for more expensive cars. In contrast, services for inexpensive cars are generally affordable, as specialized training is not required for the mechanics who work on them. Additionally, insurance costs can also vary drastically depending on the type of car and age of the driver. A young man with a sports car can be assured that his insurance premium will be much higher than a soccer mom who drives a minivan. If money is an issue, it is wise to familiarize yourself with the seemingly minute differences that could have a huge impact on your wallet.
The cost of having an automobile can also vary depending on what you are willing to settle on. For instance, if you could be satisfied with a used car, you will possibly save thousands of dollars. Furthermore, a desire to drive a sports car could be satiated by renting a sports car on your next vacation or borrowing one from someone else. In order to save more money when it comes to car expenses, you could also avoid buying one altogether. Public transportation is a feasible option in many cities. In fact, parking can often be astronomically priced in crowded cities. Some of the densest cities in the United States have monthly parking fees that will potentially meet or exceed a monthly car payment. If only a handful of your neighbors own cars, it would be wise to do your research before joining the car ownership club.