When you decide on the right time to purchase a new car, the most important thing to consider is the cost – not just the cost of the car itself, but of course, all the wanted and unwanted extras that are included in the final decision too. Below are just a few costs to consider when you choose to invest in a new motor.
How Much Does the Tax Cost?
Granted, there might be a particular car that you’re eager to invest in – no matter what stands in your path – but, there’s no guarantee that the car you really want will be the car you eventually hit the road with. Cars are expensive, even without the additional payments and in this case, you should consider how much the car you have chosen will cost you for road tax. The price can vary massively depending on the age of your vehicle and the fuel it uses which is why it’s considered an essential to make sure that before you purchase a car, you find out the exact amount of expenses you’ll need to cover and assess whether or not you will be able to afford them.
How Many Miles Per Gallon?
Regardless of which type of car you buy, whether it’s a diesel or a petrol, the most important thing to consider isn’t the price of the fuel itself but in fact, how many miles you get for each gallon of fuel that you purchase. “Usually, the smaller and more efficient the car, the more miles you will get to the gallon and the less money you’ll have to spare every time your new investment needs refuelling. Simon Hughes of Georgesons Cars. “Not to worry though, if you don’t know the MPG already, you can simply find out via your car’s trip computer, check your owner’s manual to find out how access it!”
Cost of Insurance
The cost of insurance can vary significantly, it just depends on the car you choose to buy. Nonetheless, finding out the cost of insurance is considered much easier now than it was before as car insurance companies now work to a 50-mark system rather than a 20-level system – it’s honestly much easier to find out the cost of car insurance using this method. Group 1 is the cheapest group and you guessed it, 50 is the most expensive group of them all. It’s really important that you don’t confuse the new system with the previous one, it’s all well and good getting a flashy new car for a smashing price, but if the cost of insurance is more than you can afford, then there’s not much point in keeping it after all – just make sure that you remember that car insurance companies use the new system and anything above 10 is bound to be costly!
Cost of Repairs
You might decide to settle for an older car due to lower road tax and cheaper insurance, but you should really consider the cost of any repairs that it might need in the short and long-term future. It’s important to consider any additional costs of a car that’s much older than most others, just as they are more likely to need more attention and maintenance as they continue to age. In this case, if you have chosen a car that is much older, but you don’t want to deal with any unexpected repair bills, then you might want to consider buying a car that’s a little younger than the one you had in mind. This way, even though you might pay a little bit more than you’d hoped and it might come with slightly higher tax and insurance payments, but the maintenance bills and repairs won’t be as frequent or costly – so at least you’d be saving some money at the end of the month!