42 Ways You Are Spending Too Much Money on Your Car

Ways You’re Overspending on Your Car
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Ways You’re Overspending on Your Car

Next to the cost of housing, having a car is one of life’s biggest expenses. The price of car ownership goes well beyond the initial cost of the vehicle. It's easy to spend too much money throughout the process of car buying, financing, owning, and insuring a vehicle.

According to a study by the American Automobile Association (AAA), the average cost to own and operate a vehicle in 2018 was $8,849. The study looked at the costs of depreciation, interest on auto financing, insurance, repairs, fuel, maintenance, taxes, registration, and licensing. The least expensive class of cars to operate is the small sedan class ($6,577 per year), while pickup trucks take the crown as the most costly ($10,215 per year). The study does not differentiate between mainstream and luxury models.

On the following pages, we’ll look at the ways you may be overspending on your car and how you can cut those costs down to size.

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