Vehicle Maintenance – How Much To Pay For A Private Car?

Vehicle Maintenance - How Much To Pay For A Private CarIn the United States, it is customary to buy a car in installments. Therefore, the main and most significant expense item for an American car owner is monthly loan payments to the bank.

The US Department of Transportation estimates that a passenger car costs an American $ 7,200 a year on average. True, almost $4,000 are payments to the bank, since few people buy a car for cash, most of them prefer to take out a loan.

Those who buy cars with cash should be prepared for a tax office visit. The law obliges car dealers to inform the fiscal authorities of any transactions in excess of $10,000, in which the deal was made in cash. As for a law-abiding citizen, buying, say, a Chevy Malibu for $ 18,000, he usually makes a deposit of 10%, that is, $ 1,800, and borrows the rest from payday loans in GA.

Expensive oil and cheap gasoline

Fuel and grease oil, according to official statistics, is the second largest expense for vehicle maintenance. On average, it accounts for up to $ 1,300 a year. A liter can of organic oil costs $1.5-$2, and synthetic oil costs $6-$7. The difference is that it is customary to change the oil in the car every 5,500 to 6,000 kilometers, and synthetic oil – after 12,000. Synthetic oil is considered “healthier” for an engine because it does not degrade.

Gasoline in America today costs about 50 cents a liter. For example, the owner of a sports “Pontiac” pays an average of $ 35 for a full tank. Together with it, the owners of 210 million cars running on the roads of the United States rejoice at low fuel prices. Indeed, quite recently, they had to pay a dollar for a liter of gasoline, or even more.

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Insurance obligatory

The purchased car is registered with the police, which, together with the license plates, costs from $60 to $130 for two years, depending on the engine volume. In addition, there must be an inspection mark on the windshield. A similar check can be done at any auto repair shop. In its course, the level of exhaust gases is monitored, the brakes are checked, the light is checked – for everything about all $35. Of course, if there are no significant breakdowns.

Insurance is a challenging expense pattern, it is a law to have it, and a violation is mercilessly fined. In a family with 3 cars, annual insurance costs from $ 2,000 a year, and in the suburbs, the price is much lower than in large cities.

Required minimum Georgia auto insurance coverage

Georgia law requires that all drivers must have at least the following required minimum auto insurance coverages for your vehicle:

  • Bodily injury liability: $25,000 per person and $50,000 per accident;
  • Property damage liability: $25,000 per accident;
  • Uninsured motorist bodily injury*: $25,000 per person and $50,000 per accident;
  • Uninsured motorist property damage*: $25,000 with a $250, $500, or $1000 deductible.

Category: General

Tags: auto, car insurance, loan