A car’s true monthly cost is fuel, insurance, servicing, tyres, parking and loss of value, plus any loan repayment. Work these out for the exact car before you buy, because they often matter more than a small difference in price.
Fuel
Divide your monthly distance by the car’s real kilometres per litre, then multiply by the current pump price. Use real-world figures from owners, since traffic can be far from a brochure figure.
Insurance
Get a quote for the exact car and use. Comprehensive cover is usually priced on the car’s value, so a more expensive car costs more to insure each year.
Servicing and repairs
- Ask a garage for the price of a normal service on that model.
- Price common wear parts, such as brake pads and shock absorbers.
- Set aside a monthly repair fund, and make it larger for an older car.
- Check the price of tyres in the right size.
Loss of value
Compare asking prices for the same model at different ages on gari_me. Popular models with cheap spares often hold their value better, so they cost less over time.
Common questions
- What is the most fuel-efficient type of car?
- Small hatchbacks and hybrids usually use the least fuel, particularly in traffic. Real consumption depends on the engine, its condition and how you drive.
- How much should I keep aside for repairs?
- There is no fixed figure. Older cars need a larger fund, and a mechanic who knows the model can give a realistic estimate.
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