The True Cost Of Owning A Car
Once they have passed their driving test, most young people will save up to purchase their own car as soon as they can. Even a second-hand vehicle can set young people back quite a lot though; any car is inevitably going to be a pretty costly expense. But what a lot of people do not realise is that buying a car is not the only expense; there is also the cost of running it.
From gas to insurance, from parking to repairs, there are a lot of additional costs that young drivers will also accrue once they have bought a car which they may not budget for. This is often the hardest part about owning a vehicle, and the part that new drivers find the hardest to prepare for. To put it into perspective, the motoring company KwikFit researched how much it costs to own a car in different cities around the country.
Luckily, however, there are ways that drivers can limit their expenditure by understanding how to be conservative with these costs.
Drivers who have just passed their test and are insuring their new car should shop around, for instance. The price you are quoted will differ from one insurer to the next, after all. It is also important to remember that some insurers are doing innovative things that allow young people to save money. Some are, for example, providing black boxes that monitor a person's driving and will offer better insurance costs to those that are proven to be safe road users.
In terms of repairs on the other hand, one thing that drivers can do to reduce the risk of expensive fixes is to thoroughly vet their car before purchasing and keep up small maintenance checks as much as possible. If you are able to spot a problem early, fixing it could be a much simpler (and much cheaper) venture than it would be later down the line.
Buying a car is not just about purchasing the vehicle itself; it is also about running the car. Although it can be expensive, as KwikFit's data reveals, there are a number of cost-saving measures that drivers, especially new ones, can find that will reduce these expenses.