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How Much Will it Cost You to Own a Car

Statistics About the Rising Costs of Car Ownership That Our Auto Parts Store Have Found

Being a car owner nowadays is becoming a luxury as fuel and vehicle maintenance is becoming more and more expensive. The thing is that when you purchase a vehicle, you never think that the sale price is not what you are only going to pay. The total cost of vehicle ownership, in fact, involves several factors that turn your “asset” into a huge liability, even if you didn’t finance it.  Today, the blog of our auto parts store will be focused on providing you with information about how much owning a car will cost you each year.

auto parts storeAbout the annual cost of owning a car – Here is what car-related expenses you will need to take care of:

– license, registration and taxes

– vehicle insurance

– depreciation – around 15,000 miles annually

– fuel

– finance charge

– tires

– maintenance

The annual report prepared by AAA which monitors the drivers’ expenses every year shows that small medium and large sedans, as well as SUVs and minivans have increased their expenses with 2% only during the last 2 years. Here are the main reasons which lead to this:

– The average cost of fuel rose with a little bit less than 17% for regular grade fuel.

– There was a rise in the  price of oil used in production and transportation of tires, as well as the costs of natural rubber.

– Vehicle maintenance costs have risen, because of the increased prices of fluids like: coolant, brake, oil, transmission, as well as power steering fluids.

Although depreciation has decreased it cannot compensate for the other factors which have increased. Good news is that if you visit a reliable auto parts store in Modesto CA, like Modesto Car Toys Inc, for instance, you will not see big difference in the prices of replacement parts. Their rates are still reasonable enough for an average automobile owner to afford making replacements. Although this is a quite controversial matter it is still more affordable to get some car repairs done than buy a new leasing vehicle.