|
|
Although
driving a car has become almost indispensable in
today's life, one needs to know all about costs
of owning and running a car. Whether you opt for
a brand new vehicle or a used car, buying one is
only the beginning. The coming years will see you
getting mounting bills of insurance, fuel, servicing
and road tax. Hence considering the running cost
of any vehicle is an important part of a purchasing
decision.
A hip looking used sports car with a powerful engine
at a reasonable price may sound like a bargain initially
but the vehicle might prove expensive if you consider
the insurance and fuel cost. Some of the things
that you need to be aware of regarding the daily
costs of a car are as follows -
Insurance - As the consumers are
increasingly aware of their rights, the insurance
companies have increased their rates to cover the
cost of litigations. The criteria based on which
they make their assessments have also become stringent
in the recent years. Factors such as your home address,
choice of car, occupation, age, health, annual mileage,
past accidents and driving convictions are considered.
Different cars have different insurance costs; hence,
before buying a car, it may be worthwhile to check
out the cost of insuring it. Shop around well to
check out the quotes from different companies and
ask specifically about additional discounts.
Fuel - Fuel is possibly the only
thing that has seen costs always spiralling upward
and never vice-versa. This has moved the car's average
fuel consumption from a peripheral issue to one
of the core considerations before purchasing a car.
Road Tax - Vehicle Excise Duty,
popularly known, as road tax is another major payout.
The cars are assessed on the basis of their emissions.
Diesel cars have a higher road tax than petrol cars
corresponding to higher emissions levels.
Tyres - Tyres are an inevitable
expense at some or the other point. Tyres are expensive
parts and the costs can vary significantly from
car to car. It will be a good thing to find out
about the cost of replacement for the car you have
in mind. Although tyres are a car's most used parts
and face a lot of wear & tear, how soon it will
need to be replaced depends a lot on your driving
style. A good set of tyres is indispensable, their
importance can never be overstated, hence don't
scrimp on money here. Do not go in for remoulds
or part-worn tyres. They will be prove to be a false
economy and will severely affect the car's performance.
Servicing - Today with most new
cars having a three-year warranty, it has become
relatively easier to predict the servicing and routine
maintenance costs. Finding out about how often your
car needs to be serviced and what will the cost
of each service be will give you a broad idea of
the expense you are likely to face in this area.
Depreciation - All cars lose a
certain (sometimes big) percentage of their value
the moment you drive out of the showroom. With some
careful research, it is possible to reduce the risk.
Cars from the premium segment retain their value
even after three years (a time period), by which
time most cars are heavily depreciated and significantly
lose out on their resale value. Thus a prestige
car may work out cheaper in the long run than a
regular mainstream car.
|
|
|
|
|
|
