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How expensive is owning a private car?

E

eLdavis

Member
233
12/15/23
2
18
Owning a private car can be pretty awesome, you do not have to wait In line to get in to a bus or cab that would take you to a destination. While these gives some level of freedom, it can be a bit challenging, owning a private car means constant maintenance and the likes. How expensive is owning a private car?
 
From my experience you would spend a whole lot of money if you don't know how to maintain your car. So give or take you would spend like $200 per time for maintenance which is expensive here.
 
Owning a private car needs many considerations like the amount of money you have in your savings though can purchase a car through installment. That was my first experience buying a Nissan Sentra through installment. Another, make sure you know how to drive and know the parts of the car to avoid an accident. Always get ready for the insurance and car maintenance. The price of the also varies according to brand or model.
 
When you don't earn up to $250 in a single month, you don't have any business owning a personal car. The cost of car maintenance is very expensive and requires that one has money to do periodic maintenance. It is cheaper though in the long run than jumping public transportation.
 
It depends on the type of car. Some luxurious cars can take a toll on person's income. The cost of maintaining a Lamborghini is quite different from maintaining a utility vehicle. All in all, it depends on person's income and priorities. My Toyota Corolla is not all that expensive to maintain.
 
Buying a car is not even the most concern but maintenance, fueling and others. It will eat deep into your income before you know it, that is when you are not bouyant enough and the personal car is not for business, no returns.
 
So many people that I know with relatively stable income couldn't maintain a car for a year before packing it up or selling it. It is not a cheap thing to maintain a car. That's why before you buy a car, you must consider the cost of maintenance before indulging.
 
With the cost of car fuel going up, spare parts prices shooting up, driver's license fees and insurance premiums, it is clear that owning a car is very expensive. It is for people that have a substantial source of good income.
 
Owning a car is considered a financial liability and not an asset. First, you have to save to buy one that suits your needs and budget. The cost doesn't stop there. Regular maintenance cost, fuel cost, insurance cost etc are the extra financial burden. So, it would need cost to maintain and retain it. Moreover, the cost of the vehicle depreciates with time and usage. That's why logically your car is not a financial asset but a financial liability.
 
Well, I would say that everything depends on the choice and budget of who's buying the car. There are some car which are very expensive and some that are cheaper. Take for instance, the Telsa Cybertruck is very expensive. It's sold at approximately $61,000. It's not everyone that can afford buying this kind of car. My current Toyota Highlander 2019 model is sold for approximately $48,000.
 
Car maintenance cost depends on where you are though because The cost of car maintenance is very expensive and requires that one has money to do periodic maintenance. so if you are going for a private car you need to have money so that you can enjoy your car.
 
I tend to believe that anyone who doesn't earn up to 4 figures in dollars monthly should not own a car. If not, his personal needs would suffer at the expense of car maintenance. A car fault major or minor can happen at any time. And you would need funds to fix it.
 
Augusta said:
Car maintenance cost depends on where you are though because The cost of car maintenance is very expensive and requires that one has money to do periodic maintenance. so if you are going for a private car you need to have money so that you can enjoy your car.
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Yeah, that's very correct. Also, it depends heavily on the type of car that you're driving. Someone who's driving Mercedes brand of GLK will be spending more on car main entrance when compared to who drives Toyota Avalon.
 
Owning a car is not inexpensive. You must keep your automobile in good condition, fill it up with gas, and obtain insurance. These are some of the reasons why I am currently unable to own a car.
 
Owning a car is necessary if you are a business person, or working in a big company that requires you to report on time. If the reason to buy a car is for pleasure, then proceed as long as you have money.
 
Starmix said:
Owning a car is necessary if you are a business person, or working in a big company that requires you to report on time. If the reason to buy a car is for pleasure, then proceed as long as you have money.
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Your financial capacity is what is going to determine if it is going to be a necessity or an unnecessary expenses for you to buy a car because if you can't maintain a car that you bought, it is your total waste of money.
 
Owning a private car is actually expensive. When you own a car, you can just wake up and have to spend an unplanned $50 just because you have to fix and unexpected problem with your car. Unless you want to ignore it and use public transport.
 
True, the maintenance fee is the scariest thing that anyone who owns a car is scared of, but we also need to consider the fuel fee. If a person doesn't have enough income that will help them with fuel refilling, then that is a big headache too.
 
Fuel to a large extent can be managed. You can just put the amount of fuel you can afford and don't drive long distances. Normal maintenance of a car is financially draining. The worst part is that a car can be very sound now and in a matter of hours, a fault that requires big money to fix just develops.
 
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