What are you really spending on your car?

If you drive a car, do you ever consider how much of your income is used on your car? There is every likelihood it doesn’t cross your mind what a big sum of money you need to spend to ensure your car can be used regularly. But just this once, let’s consider a small number of the costs you bear if you drive a car.
– Initial car purchase. It feels like a reasonable investment, when you consider you don’t have to pay interest and there’s nothing to pay for the first year. But when you do start to pay, you realize you have made a big financial commitment.
– Pay for gas. The price of gas has gone up by more than 100% in the last five to six years. There are several reasons for this increase. A key cause is the extra competition for oil from newly wealthy countries, most notably China and India. And recently we can’t find more oil anywhere so the supplies are going down very quickly.
– Repairs and maintenance. You never know how much you will have to spend, if you are unlucky and your engine gives major trouble you could be looking at a major repair bill to cover. Hopefully you won’t have to get maintenance work done too often.
– Getting your car insured. This is regardless of whether you are a good driver or a bad driver, a safe driver or one who is very dangerous. It’s illegal for a person to drive without insurance. Nonethless, it is possible to save money here. If you don’t do a lot of driving, you can make a big saving if you investigate short term car insurance. And if you are under the age of 25, it would be wise to look for young driver car insurance rates.
Cheap car insurance is almost always out there, you just have to find it. It’s a waste of time to call insurance companies individually, instead just get online and use a price comparison website. So you can spend your hard-earned cash on what you want.