I've done a few budgets for a handful of people over the past few months and the one element that constantly jumped out at me was the monthly cost of owning a car. On average this is what I've seen:
Car note: $395.00 month
Car insurance $110.00 month
Gasoline: $324.00 month
Parking pass: $ 65.00 month
Misc maintence: $83.00 month (based on $1,000 year in maintence)
Car tags $20.83 month ($250 tags over 12 months)

That is an average of $997.83 month 2 own a car. What the hell.....
[Edited 4/14/08 9:27am]
[Edited 4/14/08 9:57am]

Graycap23 said:

Ouch ! And here´s me thinking that owning a car in America is still comparatively cheap. I mean, we pay much, much more for gas but 110 $ on insurance per month is ridiculuous...depending on the model of car , of course.
What exactly is a car note ?

KoolEaze said:

Car payment.

KoolEaze said:

What are your insurance rates like?

Which is why I'm seriously considering buying a motor scooter to put around town for my normal chores/errands. So that I can make the car last longer (its' aid for as of 6 months ago).


It's way way too expensive to own now.

Imago said:

U are a brave soul exposing yourself on a scooter. I've seen posholes that would swallow a scooter whole.

Graycap23 said:

I'm desperate. It's too expensive to drive the car around all the time--and it's a damned VW!

DAMN, that shit is steep I don't care about cars, mine is old ('92) but still runs fine though the repairs are getting to be a bit more each year. Still, a friend is trying to talk me into leasing my next car - I don't get the leasing thing. It's such a relief not having a car note each month, why the hell would I want to lease if it'll take me even longer to actually OWN the car? & wouldn't I end up paying more in interest in the long run? I always thought leasing was for folks who cared about the latest thing (which ain't me), but the warranty angle makes it appealing

Here's my stats:

car note: 0
car insurance: roughly $70/mo, maybe less - I need to check my policy
gas: $100/mo
parking pass: none
maintenance: this year was rough, $150
tags: $4 (my tags are less than $50 each year)


I so don't want another car note, but I need a new ride by the end of the year

Imago said:

Prius.

You can switch it to FULL battery power for short trips (7 miles or so) under 50 mph, save that petro!!!

CalhounSq said:

Good choice. 2 many people get caught in the status game.....a game 4 *.
[Edited 4/14/08 12:43pm]

Imago said:

Buy a helmet.

Graycap23 said:

oh yes definately. I'll already take crap for driving one , I might as well go all geeky with it. I can't fathom not wearing a helmet in Tampa. Folks don't know how to drive here.

Imago said:

or anywhere for that matter.

Imago said:

JerseyKRS said:

1999 Chevy Cavalier paid for and when I had a note is was 185 a month.

Insurance 105 a month full covergae checking into other compnaies now becasue I have good credit and not accidents.

No parking pass, no monthly manintence but I did just spend $331 for new brakes all around plus rotors, drums, pads, 4 wheel alignment, and a new battery. Last yr new tires and regular oil changes and no other maintance. I have a Micheal Tire credit card in case I don;t have the money.

Gas maybe 50-60 bucks a month everything is really close here and I only work 1.5 mile from home.

rachel3 said:

Oh we pay for tags once a yr. last yr mine were like $71 and we renew per our birth month

The cost of owning a car varies widely. For me...

Note: $450
Insurance: $70
Registration: $9
Gas: $258
Maintenance: $40 (maybe)

Total: $827

But I've never not had a car payment, so it's easy for me to take this in stride. My monthly payment has been exactly the same on the last 4 cars I've had, so it's just built into my expenses.

rachel3 said:

Just based on what you have posted here that truck is/was costing u $383.42/month.

CalhounSq said:

My stats are low too.

Car note: $0
Car insurance $85 month
Gasoline: $80 month
Parking pass: $0
Misc maintence: $50 month
Car tags $6 month

I live in NYC so I generally only use my car on weekends.

Genesia said:

The thought of a note that high just KILLS ME When I did have a note it was below $300, $275 I think. But $450??

CalhounSq said:

I've never had car payments in my entire life. I always pay for my cheap-ass cars in full when I buy them.

okay, we just bought a mini van:

note - 160
insurance - 80
gas - 400
toll road pass - 100

that's 740 a month, not including the registration (65 a year I think) and maint. (we'll say 25 a month for the hell of it)

And we still need another car.

sextonseven said:

THAT is the smartest thing I almost did that this year, but circumstances have played a trick on me I'll have to take on a note

i wish SD had better public transit.

JerseyKRS said:

Imago said:

I'll be sure to rock that on my 51 mile commute.

JerseyKRS said:

When the cost of ownership is approachin 2 to 3 times that monthly cost of the car itself, it's time 2 re-evaluate. I'm only talking about "average" cars. The cost of higher end cars makes the evaluation even worse.

Imago said:

I love how she's holding on, all girlish & whispy & carefree. As if the power of marriage will protect her from everything! God forbid she put some pants on & hold on like someone w/ a brain "Show those gams & don't look scared!" Damn you, Mad Men!