When you are buying and financing a new or used car, there’s more to the cost of driving than simply your car payment and insurance.
CAA Offers a Driving Costs Calculator to help you budget the cost of driving your new car.
For instance, in BC CAA estimates it will cost approximately $0.43 per km to drive a Honda Civic. $8677 per year based on 20,000 km. They estimate a cost of $1,755 in fuel, $1,552 in insurance, $43 for license and registration, and $5,370 in depreciation and maintenance.
How Much Will Your New Car Cost?
- Car Payment – At GreatRateCarLoans.com we are able to work with our network of lenders to offer you a competitive car payment and interest rate.
- Insurance – Your yearly insurance amount is calculated based on many factors including your driving record, the cost of replacement, and the coverage you choose.
- Fuel – If cost is a concern, you may want to choose a car that offers good fuel economy
- Maintenance – Car washes, oil changes, tire rotation, and general wear-and-tear maintenance should be part of your yearly car budget