From PT Money.com
The choice of which new car to buy is an exciting decision for anyone to face. There is nothing quite like trading in your current road-worn car for a sparkling new car or slightly used car which is new to you.
While this is an exciting time, there are also a lot of things to consider when choosing which car is right for you, your family and your budget. You need to look at more than just the sticker price, or the best deal you can get from a car salesman. You also need to look at the ongoing costs such as:
The cost of depreciation.
Auto insurance premiums.
Fees and interest if you are financing the purchase.
Sales taxes and fees such as the gas guzzler tax.
Fuel costs.
Maintenance, repair and servicing costs.
At the same time, you can get money back through tax credits. For example, those paid to eligible hybrid cars. To help you in your search for the best car in your budget, the breakdown of these costs and benefits has been calculated for the best 10 cars available under $25,000, both brand new and just a few years old.
The cost of owning each car is based on a few standard factors including:
You keep the car for five years.
You drive 15,000 miles per year.
You buy the car using a standard car loan and not a lease, with a loan term of 60 months.
You have a good credit rating and are therefore eligible for a low interest rate.
You put down a 10% deposit.
You fit into the average demographics for insurance purposes.
Read About the Best Cars.
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1 comments:
Some of those cars I wouldn't buy, because they don't have a good reliable car record on Consumer Reports. If I buy a car, I want to get the most miles out of it possible with the least amount of repairs. Five years of owning a car is not very long at all. I want my cars to last 15 years or 300,000 miles at least!
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