Buying a new car can be a very enjoyable experience, but of course you need to consider all the costs for any potential car purchase before making your buying decision. When it comes to a new car, the purchase price alone is obviously not the only cost you can expect to face, and there are costs over the lifetime of car ownership that also need to be considered. Before you decide on a make or model of new car, note a few costs you might be overlooking, so you know you get the right one for your needs and budget.
In addition to major repairs that will eventually need to be done for your car, you will need to consistently get replacement parts for belts, hoses, sensors, electrical components, and of course tyres. It's good to note the cost of all these replacement parts, especially if you're considering an exotic or rare sports car, or some type of limited edition model. Those replacement parts can be much more expensive than you realize and can add up over time, and especially as the car gets older and begins to suffer breakdowns, so be sure you've considered those costs.
Don't assume that a lightweight passenger vehicle will automatically have good gas mileage, as its mileage may be compromised by a smaller tyre size, smaller fuel injectors, and other such features. Note the actual numbers of the fuel economy you can expect from any potential new car purchase and compare those numbers between makes and models of vehicles, so you know you can easily afford gas costs over the lifetime of owning your car.
You may want a new car because of the warranty it offers for replacement parts and repair costs. However, be sure you note the cost of that warranty itself. In some cases, it can add quite a bit of expense to the purchase price.
Taxes and fees
Typically you need to pay taxes on a new car purchase, along with dealer fees and other such costs that are added to the price at the time of the purchase. If these are not listed on the offering paperwork, be sure you have them itemized for you before you decide on a purchase. You may be able to figure the tax amount yourself if you know your area's local sales tax rate, but delivery fees, storage fees, and other such fees tacked on by the dealer can be somewhat steep, so be sure those are listed for you before making your buying decision.
For more information, contact companies like Blue Ribbon Motors.