The total cost of owning a car or truck may have a larger impact on your buying decision than you may imagine. Although the sticker price is what you pay to acquire the vehicle, there are other costs that you need to consider. How do these other costs factor into the decision on what vehicle you purchase?
1) Some Vehicles Are More Costly to Insure
All drivers have to purchase auto insurance to protect against the damage done to another car. For higher-end cars and hybrid cars with expensive batteries, it may cost more to insure because they cost more to fix. The higher cost of insurance
could take hundreds of dollars out of your wallet over the course of five years.
2) How Much Can You Afford Out of Your Own Pocket?
What happens three years after buying the car when you are out of warranty? What would happen if the service center said that you voided your warranty and you have to pay for the repair on your own? Your two choices are to buy an extended warranty or buy a car that doesn’t need a lot of maintenance. The car that doesn’t need as much work could save you thousands over the course of several years.
3) Not All Vehicles Sip Gas
Does you car or truck enjoy going through a tank of gas like you enjoy going through your first cup of coffee in the morning? If so, you will spend more time and money at the gas pump. Saving even $10 a week over the course of five years will result in a savings
of $2,600. Therefore, buying the vehicle rated at 35 miles per gallon may be better than the one that only gets 32 miles per gallon.
Knowing the Tundra cost of ownership
versus another vehicle’s cost of ownership can help you make an informed decision on your next purchase. Depending on your needs and budget, factoring in the total cost can help you determine the best value for your money.