Like most things in life, cars are something of a mixture of good and bad. They can be tremendously fun, and we all know about the convenience that they add to our lives. And who doesn’t love a good road trip, to rekindle the love of the world? And then there’s the bad. They’re not great for the environment, and it kinda sucks spending big chunks of our day in traffic. Then there’s the cost. How did they end up costing so much? Below, we take a look at a few ways cars burn a hole in our wallets, and how you can keep the costs down.

Getting Your Dream Car

Any old car might suffice when we’ve just passed our driving test, but there’ll come a time when that car that we’ve always had our eye on is calling our name. Alas, any car with this kind of pulling power is not going to be cheap. Before we’re able to cruise around town in style, we’ll need to spend months putting away a significant portion of our salary into a savings account. It’ll all be worth it one day, but there’s no avoiding that it can make our finances suffer somewhat.

Monthly Costs

It would be nice if, once you bought a car, that was it: it was all inclusive. We can dream! Instead, we’re hit with gas prices that never seem to come down as fast as they go up, and insurance costs. While there’s not much you can do about the cost of gas; you can reduce the amount of gas you’re using by learning how to travel correctly (you want an MPG as low as possible) and opting to walk or take public transportation instead of driving from time to time. For your insurance, make sure you’re shopping around to get the best price.

The Big Expenses

As cars are big, complicated machines, they also bring with them big, complicated costs. If you have a crash, then you could have expenses that include replacing the vehicle, medical bills, and supporting yourself if you’re unable to work. If your car just breaks down, then you’ll need to take it to a garage and let the experts take care of it. You can ease these financial burdens in two ways. If you’re in an accident, get help from a company like; they’ll fight to get the money that you deserve. There won’t be much you can do about a car that won’t start other than get it looked at by the professionals, but you can reduce the chances of it happening by staying on top of the engine maintenance.

Replacing the Vehicle

Nothing lasts forever, least of all a car. Even before it’s officially given up on life, you’ll probably want to replace the vehicle before it gets to that stage anyway. To help keep these costs down, use the sale of your current vehicle to fund the next one, and get to saving the rest of the money that’s needed well in advance. 


Melvin is an Entrepreneur, Life Coach, and Chinese Metaphysics Practitioner. He holds an EMBA and he is a passionate and engaging teacher, known for his unique combination of science, research, and spirituality.

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