Infographics & Data Visualizations

Infographics & Data Visualizations

Real Cost of Vehicle Ownership

image Via: Safecar.info | Car safety & Insurance Magazine

Because sales in the first quarter of 2014 have been so poor, many manufacturers have been trying to dispose of unsold stock by subsidizing substantial discounts for new models. In turn, this has been pushing down secondhand values. So before you even begin to assess which vehicle to buy, shop around to see which manufacturers are offering the best deals. Only when you have the best sticker prices can you then move on to the next important factor: how much is the car insurance going to cost? The insurers all play from the same hymn sheets. The lowest rates are reserved for those who buy the models with the best safety performance in the crash tests run by the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety. You can shave thousands off the cost of owning your pride and joy by picking the safest model.

Now add in the cost of fuel and you begin to get the true picture. Although this often means paying a slightly higher sticker price, the more miles to the gallon your vehicle does, the more you save. Even if you are a senior who only does a few miles around the area at off-peak times, you can still save significant amounts over the time you own the vehicle.

If you work your way through the infographic, you will identify all the factors to take into account. Plus there are lists of the vehicles it’s most expensive and the cheapest to own. Of course all this requires a little effort on your part but, if only to prove the economists wrong, you should invest a little brain power to buy the vehicle with the lowest costs of ownership.

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