The cost of owning a used car is often overlooked. Plenty of people buy cars to get around and not worry about the cost of maintenance. This may be short-sighted, however, because the costs add up quickly over time and some things are virtually guaranteed to go wrong.
Here are tips to estimate the cost of owning a used car:
Check the cost of gas
The rising cost of gas is a good reason to buy used cars in chandler that gets good gas mileage. You want to be able to drive around your city, town or suburb without worrying about how much it costs to fill up the tank.
Compute road tax
Road Tax is an annual fee the government charges you to drive on the road. You can estimate the cost of this by multiplying the level of your car with its registration number. For example, if you bought your car for $20,000 and it has a registration number of DHBW135A, multiply $20,000 by 1 to get about $40000. This is how much road tax you need to pay every year.
Check for insurance
No matter how new or old your car is, you need insurance to cover any accidents and damage it may cause. Newer cars will cost more to insure because they are more expensive to replace. Use this calculator from Allstate to estimate your car insurance.
Research the cost of tires
One of the most common reasons for needing a repair is a worn-out tire. In fact, it’s hard to drive very far without wearing down the treads of your tires. You should look into replacing the tires every five years so that they are as new as possible. If you can’t afford new ones, invest in tubes and plugs to maintain tread life.
Make sure your car handles well
It’s surprising how many people never check the condition of their car’s suspension and steering. Periodic inspections are almost a must for any used auto since the value will drop significantly once it is damaged, especially from an accident or weathering.
Budget for gas and oil changes
This is something you should budget for once or twice a year, especially if you are getting a cheaper car. The price of gas and oil will vary, but planners can help you get an idea of how much to plan ahead on this.