I Tracked Every Car-Related Expense for 6 Years. Here's What I Learned.

I Tracked Every Car-Related Expense for 6 Years. Here's What I Learned.

I Tracked Every Car-Related Expense for 6 Years. Here's What I Learned.

By / Investing / Monday, 24 June 2019 05:11

After a home and a college education, a vehicle is one of the most expensive purchases most people will make. You'll probably buy several over your lifetime, and unlike a house, selling a used car doesn't return much of your original principal. In other words, it's an important personal finance decision. But do you know how much car ownership actually costs?

There are a dizzying number of factors to consider, ranging from the purchase price of the vehicle to how many miles you drive each year. And don't forget about fuel, insurance, tolls, maintenance, and the like. The calculation seems daunting just thinking about it. Luckily for you, I started the nerdy habit of tracking every single car-related expense when I purchased my car six years ago. Here's what I've learned about the true cost of car ownership.

 

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NexPro Media Staff

NexPro Media Staff

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