Are you thinking of buying a new car?

Read this first!

The true cost of driving

Q: Do you know how much it costs you to drive from point A to point B?

Consider this when you need to spend $1,000.00 in maintenance or repairs to prolong the useful life of your vehicle:

The average new car now costs about $23,500.00 plus financing that car at 8% interest over 4 years runs $573.70 per month.

The average full coverage insurance policy costs about $66.00 per month.

Most people drive an average of 15,000 miles per year, which comes to 60,000 miles over 4 years. That mileage requires an average of $1,616.00 in maintenance over 4 years, which comes to $34.00 per month.

Based on these averages, driving costs you $673.70 per month, or $8,084.40 per year, not counting gas and tires!

And that doesn't even include the sales tax of $1,469 you pay for the vehicle.

A: Driving from point A to point B costs you $38,805.12 over 4 years.

Compare just spending the $1,469 of the sales tax you paid for the vehicle for maintenance or repairs.

For $1,469 or an average of $122.00 per month, for maintenance or repairs, you could add another 24 months or 30,000 miles to the life of your vehicle!

You can't rent, lease, beg borrow or buy a vehicle to use for $122.00 per month!

Compare this to buying a $23,500 new car:

Over 24 months a new car will cost you $16,168.80. That's a monthly cost of $673.70 plus the $1469.00 in sales tax you pay to buy the vehicle.

Would you rather spend $1469 for repairs or maintenance to get another 24 months or 30,000 miles out of your vehicle?

Keeping your vehicle well maintained will save you $16,168 over 24 months.

Wouldn't you rather use that $16,168 to realize your dreams for retirement or pay for your children's education?

 

* Cost may vary depending on your individual transportation requirements. If you have more then one vehicle, multiply accordingly.