4 ms·
> I think I spend more like $3000/yr for quite a nice car. You are lucky! Currently the average cost of a new car is ~$48k. Not including fuel, if I priced out
by spicymaki 3y ago
> I think I spend more like $3000/yr for quite a nice car.
You are lucky! Currently the average cost of a new car is ~$48k. Not including fuel, if I priced out a car to around $40k and took a loan at 5% interest for five years. I would already be looking at about $10k a year. Add in insurance, fuel, excise tax, registration, inspection, etc. it would go up to ~$13k for the first 5 years.
My fifteen year old car costs about $6,000 for me this year (with repairs, oil changes, and fuel costs, insurance, etc.). If I lived in an urban environment with good transit like NYC it would cost me about $2k-$3k a year in commuter costs if I traveled by bus and subway every day round trip.