This is a guest post from Laura Backes
Getting a car is a big step. A car can give you a sense of independence; a feeling of self-sufficiency. However, having a car means coming up with the money for several costs beyond just the monthly payment. These expenses can add up to thousands of extra dollars each year. Make sure you don’t forget about these six fees.
Car repair can be costly. If something in your car breaks, you can get repair estimates that vary in the hundreds if not thousands of dollars. Even if you know someone or have a buddy that knows about car repair, sometimes the parts alone cost a bundle. No matter how old or how new your car is, all cars will require repair sometime. Counting on your warranty? Forget it. The split second it expires, the car will break down.
Not only does a car have to be repaired sometimes, but it needs to be kept up regularly. Cars require oil changes, new tires, fluids changed and topped off. It is an endless battle. Be prepared to empty your pockets every ten thousand miles or so for some major maintenance. Oh, you can ignore it, but remember- you’ll end up paying a lot more for repairs in the future if you do.
Insurance is a huge part of the cash drain for most car owners. Even if you buy a car straight out and get only liability insurance, it will still cost a huge amount of money each month. Accidents are a part of life, and insurance usually doesn’t pay for as much as you would think. Remember that you are not just making sure your vehicle is taken care of, but you are also covering other people’s cars- insured and uninsured. Don’t even get me talking about the price of medical coverage if someone is injured in a car accident. In a big city, full coverage insurance (the minimum that auto financiers require) can reach hundreds of dollars a month.
The yearly inspection of your vehicle most of the time is not a big issue; unless something goes wrong. The price for inspections can change significantly depending on where you are located, and the laws behind them are always being updated. Simple errors like having too dark of a tint on your windows can get your car disqualified. No inspection? Prepare yourself for a big ticket.
Mercifully, you won’t have to get your license plates swapped often, but you will have to update your registration sticker every year. Registration information comes in the mail, and you can pay through the mail or at a store; even online in some states. Registration is just a small fee, but those can add up.
Last but not least, gas prices. With the speed that gas prices rise, investing in a bicycle sounds like a better plan. Your car will never get as good of mileage as the manufacturer says it will. Be prepared to shell out a lot of dough, especially if you live where there’s stop-and-go traffic. About the Author: This is a guest post from Laura Backes, she enjoys writing about all kinds of subjects and also topics related to internet providers in my area. You can reach her at: laurabackes8 @ gmail.com.