Driving Under the Influence on New Year’s Eve Costs More than $10,000, According to GoBankingRates.com Report

Tomorrow night, New Year's Eve will be celebrated by millions of Americans, many of whom will consume alcohol. While saving money is a major concern at the end of the year, few consider how driving under the influence on New Year's Eve can impact savings goals, which is why leading personal finance site http://www.GoBankingRates.com investigates how a DUI arrest can take a significant toll on drivers' finances.

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Driving Under the Influence

Driving Under the Influence

Why risk your savings, health and reputation? If you can’t be a responsible adult and find some way to get a ride from a sober driver, you’re better off staying home Monday night.

El Segundo, CA (PRWEB) December 30, 2012

Most budget-conscious consumers are saving money during the holidays through traditional methods like tracking spending and keeping the credit card use to a minimum. However, as millions prepare to celebrate the final holiday of the year — New Year’s Eve — online personal finance resource Go Banking Rates warns that many will commit one of the most dangerous, expensive, and easily avoidable holiday money mistakes: Driving under the influence of alcohol.

According to TIME, New Year's Eve is one of the “booziest holidays” of the year, presenting the opportunity for those celebrating to make the poor and costly decision to drive while over the legal limit for blood alcohol content.

Casey Bond, managing editor of Go Banking Rates, explains partygoers "might not think it’s a big deal to drive home after a couple glasses." However, an arrest for driving under the influence can easily cost $10,000, "even if you didn’t crash into anything – or anyone," Ms. Bond adds.

Total Cost of a DUI

There are quite a few expenses associated with a DUI arrest. Go Banking Rates investigated the charges a first-time offender can expect to pay (an accident or repeat offense increases these numbers significantly) and found the following to be typical expenses:

  •     Bail: $500-$2,500.
  •     Towing and Storage: $100 and up.
  •     Legal Fees: $2,500 and up.
  •     Fines: $2,500.
  •     Alcohol Education Program: $1,500-$2,500.
  •     License Reinstatement: $100-$500.
  •     Insurance hike: $1,500 to $2,000 extra per year for 3-5 years.

To view the full report on the cost of driving under the influence, please click here.
When it comes to saving money during the holidays, it’s not always easy to stick to a budget or keep track of receipts. Driving under the influence and getting stuck with thousands of dollars in court fees, however, is one holiday money mistake that's simple to avoid.

Ms. Bond concludes, "Why risk your savings, health and reputation? If you can’t be a responsible adult and find some way to get a ride from a sober driver, you’re better off staying home Monday night."

About Go Banking Rates

http://www.GoBankingRates.com is a national website dedicated to connecting readers with the best interest rates on financial services nationwide, as well as informative personal finance content, news and tools. Go Banking Rates collects interest rate information from more than 4,000 U.S. banks and credit unions, making it the only online rates aggregator with the ability to provide the most comprehensive and authentic local interest rate information.

Additionally, GoBankingRates.com partners with a number of major media outlets such as Business Insider and US News & World Report to provide compelling and edifying personal finance content, and its expert editors have been featured and quoted on several premier finance websites like Yahoo! Finance, Forbes, The Street, Huffington Post and more.

GoBankingRates.com belongs to a network of more than 1500 finance websites, including GoInsuranceRates.com and GoFreeCredit.com. These sites receive more than 2 million visits each month.

For questions or comments, please contact Jaime Catmull, GoBankingRates.com Director of Public Relations, at JaimeC(@)GoBankingRates(dot)com, or 310.297.9233 x261.


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This Easily Avoidable Holiday Money Mistake Could Cost You $10,000 This Easily Avoidable Holiday Money Mistake Could Cost You $10,000

This Easily Avoidable Holiday Money Mistake Could Cost You $10,000


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Casey Bond

Casey Bond