Consider Ownership Costs When Purchasing A Car

2011-mitsubishi-lancer-gts-3.jpgMost people don’t realize that a less-expensive vehicle can end up costing you more over time than a more-expensive vehicle.

For example, a Mitsubishi Lancer costs approximately $17,500.  This is $5,000 less than the sticker price of a Mini Cooper Clubman.  However, when you factor in ownership costs of each vehicle, the Mitsubishi Lancer will cost approximately $3,000 more for five years.  Also, a Toyota Highlander is $3,000 more to buy than a Ford Explorer V6, yet the Ford would cost you $6,500 more over five years.

People should consider the sticker price when purchasing a vehicle, but that’s not all.  Consumers also need to take into account how much a car will cost them with ownership.  For example, people should factor in depreciation, auto loans, an auto warranty, insurance, roadside assistance, fuel costs, sales tax, repair costs, and maintenance.

Posted on Friday, April 22nd, 2011 at 5:21 pm In Roadside Assistance Program