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How much does it cost to own a car? A thousand dollars can get you a decent four-door sedan, but the cost of the car isn’t enough when you’re deciding on a budget to set aside for it. Aside from the car itself you still have to shell out some money for its upkeep, licensing, and fuel of course. A used car’s total cost of ownership should be considered by anyone who is serious about buying a car—after all, money doesn’t grow on trees, and you would surely want to save up for the rainy days. Cost to Own Breakdown In Canada, two independent bodies analyzed data to determine the annual cost to own and operate a vehicle. The Canadian Automobile Association and Globe Drive research found out that the average annual cost to own a 2012 Toyota Camry amounts to $10,452 a year, factoring in that the car will run 18,000 kilometers a year and the gas price is set at $1.23 a liter. That’s for a new car. For pre-owned cars, the cost will vary. For one thing, used cars don’t undergo major depreciation in value anymore, especially of these are older than five years old. The brand-new Camry is likely to lose almost $4000 in value in its first year alone. The cost to own pre-owned cars will be a lot less than new ones, but it would also depend on the car’s condition. Aside from the cost of the vehicle unit, pre-owned car buyers will be spending on auto insurance, fuel costs, maintenance and repair, financing charges, and license and registration. How to keep your used cars total cost of ownership low The breakdown mentioned above are necessary expenditures if you want to keep your car running on the road. If you are daunted by the seemingly high cost, don’t fret because as a used-car owner you still have plenty of options to keep your running costs low. For one, you can decrease the amount you spend on gas by making your car more fuel-efficient: practice proper driving and braking; don’t overburden your engine with unnecessary loads; keep your tires properly inflated; and keep your windows up on the highway. You can also try carsharing and carpooling to help offset the costs of running a car. With your friends and colleagues chipping in, you won’t have to spend on gas by yourself. It also helps the environment by decreasing the number of vehicles on the road. In addition, you can just ride a bicycle if you’re just going to a store a few streets away—the physical activity is good for your health too! Best-value vehicles A used car’s total cost of ownership is a deciding factor when it comes to picking out the best one that would fit our needs and budgets. Here are some examples of cars from Japanese automakers with the combined characteristics of having the lowest market price, remarkable reliability, reasonable insurance rates, and best fuel economy: the Nissan Versa, Toyota Yaris/Vitz, Scion iQ, Honda Insight, and the Honda Fit. On a final note, you should keep in mind that a used car’s total cost of ownership really depends on how the car is used and cared for. Use it well and properly and you won’t have to spend too much on its running costs!
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used cars, import cars, japanese cars,
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