Budget for These 4 Monthly Expenses When Buying a Used Car

When buying a new car in the Indianapolis area, there’s more to plan for than the monthly car payment. You have to consider fuel costs, car insurance prices, maintenance costs, and covering major vehicle repairs. The prices of these expenses vary, so it’s best to do some research before buying a used vehicle from Joe’s Auto Sales. If you haven’t thought about these expenses, now’s the time to consider the four following costs associated with buying a used vehicle.

1. Gasoline

How much your gas costs depends on how often you drive and the type of vehicle you purchase. If you have a longer commute to work or like to take road trips, then your gas costs will be considerably higher. Typically, vehicles like used trucks and used SUVs take more gas because of their larger engines, which also translates to buying gas more often. 

2. Vehicle Insurance

There are several factors that influence the cost of vehicle insurance. Among the most common factors is your age, driving history, age of the vehicle, and make and model of the vehicle. A few other items that may also determine the cost of your car insurance are:

• Credit score
• Location
• Insurance history
• Annual mileage

3. Regular Maintenance

Be prepared to schedule regular maintenance for your vehicle. Every three to four months, you’ll need to get an oil change and have all the fluids checked in your car. You may also want to plan for seasonal maintenance appointments, such as having winter tires installed or checking the air conditioning each spring. At Joe’s service center, we are more than happy to assist you with all of your car’s regular maintenance needs.

4. Major Repairs

Often, major vehicle repairs occur when we least expect them. While it’s good to budget each month towards these repairs, it’s also best to have a large amount set aside for when these surprise engine overhauls occur. Other repairs to plan for include:

• Brakes
• Exhaust system
• Vehicle battery
• Suspension

Everybody Rides at Joe’s

Whether you’re looking for a used car, used truck, used motorcycle, or used van, Joe’s Auto Sales has a lot full of affordably priced, high-quality vehicles. Contact us at (317) 405-8545 (East Location) or (317) 756-9180 (South Location) for more information, or stop by our car lot today. 

“Budgeting: Extra Car Costs To Consider.” Blog article. Auto City Credit. Web. 11 Nov. 2020.