Beyond the Sticker Price: The True Cost of Buying a Car
Posted: Saturday, March 4th, 2017
If you’re shopping for a new or used car in St. Louis, you’re no doubt shopping for the best deal. The smartest shoppers look beyond the sticker price at the real cost of ownership. While you might be getting a good deal on the vehicle, there are many other factors to consider when shopping, because cost of ownership can vary wildly based on a few key factors:
Fuel Economy: A more efficient vehicle burns less gas than a less efficient vehicle. You have to figure that expense into your total cost of ownership. While the difference between two efficient small cars might be relatively small in the long term, the difference between a sports car or a truck and a more efficient vehicle can easily add up to thousands of dollars every year.
Insurance: Insurance costs can vary dramatically based on the value and type of car. Many sports cars or vehicles with lots of horsepower can cost far more to insure than a more affordable, lower performance car. Make sure you get an insurance quote before you add a car to your policy to avoid sticker shock.
Maintenance: Maintenance and repair costs are always going to add up, but some vehicles require less maintenance than others. More reliable cars will require fewer repairs. It’s easy to look at reliability and maintenance costs and factor that into your purchase.
Depreciation: The single biggest expense of owning a car is usually depreciation. That’s especially true if you’re buying a new car. Look for a car with a better value retention rate to lose less money over time.
Financing: If you’re going to finance your car, get the lowest loan rate possible through Green Light Auto Credit. That way you pay less interest in the long run.
Let Green Light Auto Credit Help
Green Light Auto Credit is happy to help you get the financing you need to drive your next new or used car. We work with a nationwide network of lenders to make sure you get the best deal, and our expert staff can help you no matter what your credit. Contact Green Light Auto Credit online now or give us a call at (800) 200-5551 with any questions about financing a vehicle in the St. Louis, MO area.