98 Chevy Suburban

Posted on January 10, 2012 by Admin
98 Chevy Suburban

98 Chevy Suburban

Many suburban families in North America are a part of the two-car families. However, due to rising operating costs of owning a car, families are deciding to downsize to one car. Before saying goodbye to the car, calculate the costs of owning a car.

Calculating the Costs of Owning or Leasing a Car

The first step is to list all the expenses related to a car. Gas, insurance, car payments, repairs, maintenance, annual government fees, and parking fees are the main fees associated with owning or leasing a car.

Gas: Estimate the number of times the family fills up the car on a monthly basis. For the month, record the total amount of gas purchased. After the month is complete, calculate the monthly costs and then multiply by 12 to get an annual estimate.

  • Gas Costs/month x 12 = Annual Gas Costs
  • $210/month x 12= $2520.0

Car Payments: Simple multiply the monthly car payment by 12 to calculate the yearly costs.

  • Lease payments x 12 = Annual Payments
  • $227.14 x 12 = $2725.68

Repairs: Calculating the repair costs are tricky. For newer cars, research what is covered under warranty and calculate based on this information. For older cars, research what may have to be done in the next year to keep the car running smoothly. One option is to take it to a garage for a free inspection estimate. Take the information given from the free inspection to estimate the costs. Often free inspections will estimate the costs of repairing the car.

  • Repair Costs + Repair Costs + Repair Costs = Annual Repair Costs
  • $30.0 (windshield wiper) + tires ($886.00) + Windshield Fluid ($5.75) = $921.75

Maintenance: Most cars have maintenance every 3 months or every 5000 kilometers. Oil change and tire rotation are just a few maintenance checks. Estimate the expense based on the model and year. Since maintenance costs fluctuate dependent on the check up, simply add the expenses to calculate the yearly costs.