That the new car actually costs
Car expenses
When owning a car is not an option in most places the United States, said the financial pressure on the middle class and the results are quite surprising. Did you know that 64% of American debt, non-revolving credit, such as student and car loans? The same statistics say that the average loan is $ 30,400 or more cars. With an investment of the buyer is only 9% in advance, they pay another $ 27,664. With an average salary of an American who is just under $ 30,000 a year, you can see that significant investment in the ownership of cars in America.
Financing costs
In 2009, the Fed reported in April the average car loan is 3.82% with a duration of more than 60 months. Total monthly payments came to $ 507.23 per month at these levels. In 60 months, you pay $ 30,433.8 Interest paid amounted to $ 2,736.
Insurance
In the second quarter 2010, average levels of 1812 auto insurance. Who has managed to be $ 151 per month. Once again, just load when auto insurance is mandatory to have by law. Combined with the car loan payments totaling 658.23 per month.
Gas
In 2009, the average American spends $ 2,208 on gas, or $ 184 per month. Coupled with the previous cost, we are in a total of $ 842.23 per month.
Total cost
Simply combine our burdens have spoken, apart from routine maintenance and unscheduled maintenance, the total annual cost for a new car, based on national average would be $ 10,106.76 per year. Multiply this figure by five years (60 months) and the total amount you pay for the new car is $ 50,533.80.