Complete Auto Loans Uncovers Hidden Costs of Car Ownership

In a groundbreaking report, Complete Auto Loans has discovered numerous costs and fees that car buyers overlook.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend

Seattle, Washington (PRWEB) November 16, 2013

Are car buyers being tricked into buying "more car" than they can afford? Complete Auto Loans has discovered a number of different charges and fees that car owners are responsible for, many of which car owners do not plan for in advance.

In their report, Complete Auto Loans found that most car owners budget for car purchases based on simple algorithms that combine car payments with bare estimates of car ownership costs, usually based only on fuel and basic maintenance. However, as cars grow increasingly sophisticated, and as different metropolitan areas search for more revenue, other costs are coming into play.

Most auto buyers will be responsible for a variety of taxes and fees, both on the purchase of their vehicle and on the value of the car in every subsequent year. Many metropolitan areas also charge a great deal of money for parking. Complete Auto Loans claims that most car buyers in big cities spend more money on parking fees than they spend on gas in any given week.

Complete Auto Loans recommends that all car buyers use services like Kelly Blue Book to get an idea of the operational costs of their vehicles. User surveys and manufacturer reports are combined to average the level of repair/maintenance cars require over time, and these calculations also factor in depreciation.


Contact