Apr 22

How Much Does Your Car Really Cost

Have you been dreaming of a new growling truck or a silent electric car? Buying a new vehicle is a big financial decision, not just because of the sticker price on the car’s windshield, but because it will affect your finances for years to come. The first big decision to make is whether to lease or buy a vehicle. Secondly, you need to decide whether you would rather splurge on a brand new car or save a little money with a used car.

Next, it’s time to start thinking of makes and models. While you might want to focus on leather seats, moon roof, spoilers and other accessories, don’t forget to keep your car’s future costs in mind. The price of your car doesn’t end with the number written on the windshield. You’ll also be paying for gas, repairs and accessories for as long as you have the car. A truck might seem like a good deal-until you calculate how much gas you’ll have to put in it each month. If your truck only gets 18 miles a gallon, the extra cost at the pump could really add up. There are similar hidden costs with luxury model cars. Expensive cars tend to require premium gas and high-cost maintenance. If buying a luxury car is already a financial stretch, you might be overwhelmed by higher insurance and more expensive parts.

When it’s time to purchase a new vehicle take all the costs into consideration, including the day-to-day costs of maintenance. What originally seemed affordable may be more expensive than you imagined!

Wealth and Wisdom Online Financial Advisor,Your personal CFO will provide you with the right solution that fits your lifestyle and financial planning. Our step by step process makes it easy for anyone to achieve their financial goals.


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