Probably many motorists know that the cost of owning a car is not only about monthly leasing payments. After all, there are a number of other mandatory expenditures that affect the final cost of ownership of any car. We are talking about such expenses as car insurance, fuel, taxes, maintenance, parking, fines, washing, etc. Unfortunately, not all of this is taken into account when buying a car. As a result, in the future, some motorists begin to understand that their incomes do not allow them to own a vehicle.
Before deciding whether you should get rid of your car, you should calculate all the costs associated with owning it including leasing payments, insurance costs and much more. Pay attention that it is necessary to take into account seasonal spending on your car, such as tire replacement, etc. Your costs should be calculated for the full year of ownership. Next, divide all expenses by 12 months and you will know how much money is needed to own a car. If your expenses exceed 50% of your income, then, without hesitation, you should consider buying some cheaper vehicle. For instance, you can check used gm cars or alternatively you can consider doing without a car. After all, there are other important things in life than a car. Think about your loved ones who might be in need of something.
This is particularly true for those car owners who use their car to do some occasional shopping only without actually using a car on a day-to-day basis. Do not forget that any car begins to lose its market value once it leaves the dealership. If you are hoping to keep your car in a good condition and then get more money for it when selling it, do not count on significant amounts of money. It is going to depreciate anyway – this is the car market. Plus, do not forget that even if you do not use the car often, you still bear the costs associated directly with its ownership: insurance, taxes, fuel, parking, scheduled maintenance, washing, etc.
You will probably agree that when your personal financial capabilities are limited and the ownership costs in connection with a car are significant, such ownership of a car is ridiculous and does not make sense particularly if you are a family person. In this case, it is more profitable to either opt for car rental services or use a taxi. In addition, by selling a car, which you can do if you visit kijiji to post local classifieds, and switching to public transport, you will spare yourself an extra headache associated with parking, insurance, traffic jams, repair and maintenance, etc. Sometimes this is useful. Although it is obvious that a car can provide you the level of comfort that no public transport or a taxi ever will. Sometimes, though, you need to be able to give up comfort when it is needed from a financial standpoint.