What Goes Into Total Cost of Ownership?
Everybody’s car ownership costs are different. If grandma gives you her old Impala, your purchase and finance charges could be zero (you lucky dog!) On the other hand, if you’re not much of a negotiator, your new BMW could end up having finance charges so high that the Pentagon budget looks cheap in comparison. It all depends. Some people buy cars with great warranties and have no real repair costs for their first 5 years. Some car companies throw in scheduled maintenance, some don’t. Some have roadside assistance programs, some don’t. Some people have to pay to park the car in their condo parking lot or in the commercial garage next to their office, others have free parking. What I pay might not be what you pay. Here’s some of the common factors that might impact how much your total vehicle cost will add up to over a 5-year or even 10-year period: * Purchase price * Depreciation * Finance charges * Fuel * Scheduled maintenance * Repairs * Insurance * Accessories/customizations * Parki
