I'd like to get a better idea of how much it really costs to own a new car. I feel like I have somewhat of an idea of all the different costs that come with it, but no solid understanding as I've never owned one.
Assuming one buys a new car by getting a loan (what the majority of new car purchasers do in my understanding), how much would one pay every month, year, and in total by the time it is paid off?
Has anyone kept track of this? Looking on Edmunds at a 2014 Honda Accord, the true cost to own after only five years is estimated to be $45,000. That seems pretty accurate when you look at the breakdown of costs, but I'd like to get some actual stories.
Thanks r3v
Assuming one buys a new car by getting a loan (what the majority of new car purchasers do in my understanding), how much would one pay every month, year, and in total by the time it is paid off?
Has anyone kept track of this? Looking on Edmunds at a 2014 Honda Accord, the true cost to own after only five years is estimated to be $45,000. That seems pretty accurate when you look at the breakdown of costs, but I'd like to get some actual stories.
Thanks r3v
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