Think you know how much a car costs? The total cost of ownership for a car today is so much more than just what you pay at the dealership. Unless you're paying cash for that new car, you're also going to pay interest on the price that you and the dealer agreed upon. There are some great car financing options in today's market. While there may be some great low or no finance deals out there, interest costs are going to drive the cost of ownership up.
Total cost of ownership today also includes licensing and vehicle registration, fuel, maintenance, insurance and depreciation. It's a lot to consider when you think about becoming a car owner, but we're here to help you figure it all out. Check out the car owner resources and content below.
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Moving from internal combustion to electric power does more than reduce tailpipe emissions: it will fundamentally shatter today’s auto maintenance and service sector. With one-fifth the number of powertrain parts and an almost total elimination of oil (a), the typical automotive dealer will suffer 35% declines in maintenance and service revenue, or roughly $1,300, for an EV versus an internal combustion engine vehicle over a five-year period (b). Two of the top three maintenance items — oil ch