6. Underestimating Total Ownership Costs
The sticker price is just the beginning. Fuel, insurance, maintenance, and depreciation can significantly impact your budget over time. According to AAA, the average annual cost of owning a car now tops $10,000. Ignoring these expenses can lead to unpleasant surprises down the line. Make sure to factor in all aspects of ownership to ensure your new ride doesn’t strain your finances.