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Understanding how much it will cost to own a car

Driving a car provides a freedom that no other form of public transport can offer; with the ability to go wherever you want when you want. For this privilege though it does cost a fair chunk of change with no exceptions. Lots of marketing in the media champions affordable motoring, but when you consider all the facets of car ownership then the price ramps up.  Even Jaguars on finance can look affordable on the tightest budget, so beware that the following things can really make motoring break the bank:

Upfront costs

There will be no person walking into the purchase of a car thinking it will be cheap, but the sheer expensive of cars can surprise you if you are new to it. New cars will always be dear, but you can get a Dacia Sandero for under six thousand pounds brand new, but if you want something more equipped, practical and good-to-drive then you should be looking over ten thousand. Worse still, if you think that used cars will come to your rescue then you could be sorely mistaken with the average price of a second hand car over £5,000.

Keeping it legal

A car is not legal on the road until it is fully taxed, insured and has a valid MOT; without these you can not drive on British roads. Certain cars have huge tax and insurance implications, such as a more powerful car will create more carbon emissions which penalises you on tax. Whereas the faster and more expensive a car is will begin ramp up your insurance cost to a level beyond your financial limit. That’s why before you buy a car it is important to know what type of car fits within your budget for both tax and insurance; otherwise you will not be able to get it off your driveway legally.

Running and maintaining it day to day

There is not a week that passes when the price of petrol is not making headline news, so it highlights just how dear it is to fill up and run a car everyday. Not only this, but before you know it your car could be more than three-years-old or you may have racked thousands of more miles meaning your car must be regularly maintained, checked for roadworthiness and serviced when necessary. This makes the reliability and warranty you get with your next car vastly important and understanding how much it will cost to maintain it; as the more expensive a car is the more it will cost to repair, fix and service it when the time comes.