Lansing Auto Repair The true cost of driving!!
Most people have no idea the cost of providing transportation from point A to point B. The average mid size new car now costs around $20,000. Financing the average new car at 8% interest over four years runs $488.26 per month. The average full coverage insurance is around $90.00 per month. With average miles driven of 15,000 per year totaling 60,000 miles over four years, and an average maintenance costs of $1200, which comes out to $25.00 per month, it all adds up to a total expense of $603.26 per month for the next four years. This is not even counting tires or gas, and that’s even after putting $1000 down in addition to a $1000 sales tax! The total expense to drive from point A to point B costs $7239 per year and $28,956 for four years of transportation; and you wonder why money is tight! This will all vary up or down based on your individual transportation requirements. If you have more than one vehicle, multiply the above accordingly.
When the time comes to perform maintenance and repairs and you need to spend $1000 to prolong the useful life of your vehicle, take this into consideration. If by doing the maintenance and repairs gets you another 24 months or 30,000 miles; the average cost would be around $41.66 per month. You can’t rent, lease, beg, borrow, or buy a vehicle to use for $41.66 per month. Compare this to a $20,000 new car which will cost you $14,478 over 24 months, with an average cost of around $603.26, not forgetting the $1000 Michigan sales tax which benefits you nothing. Which will it be, $1000 to Michigan for nothing, or $1000 for repairs and maintenance to give you another 24 months or 30,000 miles? You tell me what makes more sense! So, use the $14,478 you save by keeping your vehicle well maintained, safer and longer, in order to realize your dreams, retirement, or children’s education.
To fully maximize your transportation dollar you need to get 150,000 to 200,000 miles out of your vehicle. This is possible because today’s vehicles are built better than ever before. By doing the manufacturer’s recommended maintenance you will help to ensure the same level of reliability you have come to know and expect.
