What additional costs are associated with owning a car?

Answer 1

Insurance comes in two basic types, damages that you cause to others and damages that others did not cause or will not pay for, meaning: Damages you cause to others is called a "liability" insurance policy. The insurance company will pay up to a preset maximum amount for any damages you might cause with your vehicle. Damages tht others did not cause or will not pay for is usually called "comprehensive", meaning that the insurance company will cover some of YOUR costs if your vehicle is damaged. Different types of coverage include: weather related, the other guy was a hit and left the scene, unattended vehicle damage where the other driver just left, damages to your vehicle caused by an uninsured motorist and damages to your vehicle because you did something wrong yourself, including a slide off because of icy weather. Other vehicle expenses include payments, maintenance, repairs, fuel and often parking. Maintenance and repairs are two separate categories because one is an expected expense and the other is not. You know that you need to routinely change oil, filters and lube the chassis, that you need to periodically replace tires and wiper blades, bulbs, batteries and other items that have a set life expectancy. Repairs, however, can be very expensive and unexpected. If something goes wrong with a radiator hose (another maintenance item) and you loose the engine coolant, the engine can get so hot that it can crack or warp the head. That can be several hundred dollars and up to a thousand or more, depending on the type of vehicle. Owning and operating a vehicle is not cheap.