Hi. Yeah, it's car shopping season and we just got brand new numbers from bank rate revealing all the costs you may not think about when you're buying *** car, things like insurance, gas maintenance and vehicle taxes, essentially everything you pay on top of your monthly auto loan you don't think about. They found the average cost of maintaining *** car again before your monthly payment is six 1006 $184 every year. It's *** lot. Let's break that number down the biggest piece insurance, an average of *** whopping $2329 every year. Then gas, it's *** little less than that. Still very expensive. $1837 *** year. Maintenance, $1336 *** year and then taxes. Hey, another $1182 *** year. So what does this mean for you? If you're shopping around for *** car, you need to make sure you're factoring all of that in so you can pay for it each month. I'm gonna share the full report in my Rawson reports newsletter. Sign up at Rawson reports.com. It's free back to you.
Rossen Reports: Hidden costs of owning a car revealed
Updated: 3:12 PM CDT Aug 14, 2024
It's car shopping season, and a new study from Bankrate reveals the hidden costs of owning a car.These costs include insurance, gas, maintenance, and vehicle taxes, which can add up to $6,684 annually, on top of your monthly auto loan payment.Insurance is the biggest expense, averaging $2,329 per year, or $194 per month. Gas costs come in at $1,837 annually or $153 per month.Maintenance expenses average $1,336 per year, or $111 per month.Taxes add another $1,182 annually, or $98 monthly.If you're shopping for a car, make sure to factor these additional costs into your budget.Have a question for Jeff Rossen? He’s answering your consumer questions every Friday in the new segment "Rossen Responds." Email your questions to him at RossenResponds@hearst.com. Want bonus content and exclusive deals? Make sure to sign up for our free newsletter at RossenReports.com.
It's car shopping season, and a new study from Bankrate reveals the hidden costs of owning a car.
These costs include insurance, gas, maintenance, and vehicle taxes, which can add up to $6,684 annually, on top of your monthly auto loan payment.
Insurance is the biggest expense, averaging $2,329 per year, or $194 per month. Gas costs come in at $1,837 annually or $153 per month.
Maintenance expenses average $1,336 per year, or $111 per month.
Taxes add another $1,182 annually, or $98 monthly.
If you're shopping for a car, make sure to factor these additional costs into your budget.
Have a question for Jeff Rossen? He’s answering your consumer questions every Friday in the new segment "Rossen Responds." Email your questions to him at RossenResponds@hearst.com.
Want bonus content and exclusive deals? Make sure to sign up for our free newsletter at RossenReports.com.