It can be easy to assume that buying a car is the biggest part of actually having your own vehicle. Many people save up to buy a car believing that this is really the only thing they have to worry about, unfortunately this is not true. In actual fact, although the vehicle itself might be the biggest lump sum you have to pay out, there are many most costs involved when it comes to running a vehicle.
So the initial cost you’ll have is the vehicle itself, but that isn’t the only thing you’ll have to pay out to get on the road. You’ll need to make sure you get road tax. 12 months will cost you on average £165.00 depending on the car you have and on top of this, you’ll need to make sure you have insurance. It is wise to get insurance costs before you buy a car to make sure that the insurance policy cost isn’t going to make the car you want out of your budget. If it doesn’t already have it then you’ll also need an MOT at £54.85 and it is also advisable that you get some kind of breakdown cover policy which will set you back around £50.00. If you go onto a car advice homepage then can often help with this and let you know exactly how much everything should set you back.
It can be easy to assume that once you have paid out all of this then you are good to go but that isn’t the case! For starters you’ll need to take into the account the cost of petrol, which seems to be constantly on the rise. Small things such as oil will also need to be looked into.
In general the main running costs you’ll need to take into consideration are tyres and general wear and tear on your car. If you do a lot of travelling the tolls, congestion charges and parking might also add up to a larger amount than you expect.
Repairs And Keeping Your Car On The Road
Depressed enough yet? Well you also need to think about what you would do if your car went wrong. You’ll need to put it through a yearly MOT and often this will mean a few smaller repairs that need to be carried out in order for it to pass. Of course if something bigger was to go wrong then the cost of repairing this could add up!
Don’t let this put you off of running a car though because nothing is better than being able to have your own freedom and go where you want, when you want! As long as you are sensible and look after your car then you can keep costs to a minimum. Shopping around for things such as car insurance is also advisable. Try and put away a little money each money towards a car fund so that if an unexpected cost does come up then you have at least a little bit of cash to put towards this and take the pressure off a little.