Cost of owning a car
What are the real costs of buying a new car?
The average new car price has jumped in recent years. Kelly Blue Book analysts reported earlier this year the estimated average transaction price for U.S. light vehicles as $34,428 in December 2015. That’s a $297 (0.9%) jump vs. the same period the previous year.
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Even the most expensive repair bills for an old car can’t outweigh the cost of depreciation on a new one.
Read MoreWheels and Deals: Cutting Car Ownership Costs
Lots of vehicle owners chalk up car-ownership costs mainly to the price at the pump or unexpected repairs, but other factors figure big-time in calculating how much your set of wheels truly is costing. Driving style, preventive maintenance and insurance options all contribute to how much you’re paying (and could be saving).
Read MoreWill I save money by buying a hybrid vehicle?
Question: I’m looking to buy a new vehicle, and I’m considering a hybrid. I like the idea of saving money on gas, but I’m concerned about the cost of replacing battery. What do you recommend when other clients ask about buying a hybrid? Answer: A surge in gas prices like we’re seeing now always ignites…
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