Explore the Real Cost of Owning a Car

The initial buying price of a car is only part of its overall cost. The total cost of ownership, or TOC, is the summation of all the costs incurred in purchasing and using a vehicle over a given period.

When shopping for a car, you should go past the sticker price and intellectualize a more realistic figure to pay over its lifetime. To help you have a vivid picture of the total cost, let's consider the following factors:

Fuel consumption

The bigger the engine, the more it consumes and the faster it drains your pockets every time you are behind the wheels.

Repairs and Maintenance

The manufacturer predetermines maintenance schedules, and their costs depend on the kind of a car you select.

Depreciation

The rate at which is a car loses its value is also a significant cost to consider.

Other factors include: Interests/financing, insurance, taxes and fees, and upkeep. Knowing the total cost of car ownership preps you to make an informed decision on getting a great car on a great deal. Visit BMW of Southampton, NY soon to learn more about our new BMW cars for sale!

Categories: Finance
 
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