When in the market to buy a new car, there’s a lot to think about.
At first glance, you might just take notice of the monthly payments you’ll be making depending on the car you decide to drive away with. But this is only scratching the surface.
There are many hidden costs of owning a vehicle, from insurance premiums and gasoline to maintenance and repairs. You’ll also need to take the cost of taxes into consideration – and whether or not this is included in the monthly payment your dealer advertises.
The following infographic, put together by CarFinance247, dives into the true cost of driving a car in various countries across the globe. The infographic compares the costs involved in different aspects of driving and owning a car, as well as the differences between purchasing a new or used automobile.
Unsurprisingly, the cost of owning a car is highest in America – by far. In fact, it costs roughly 33% more money to own a car in America than it does in the second-most expensive country, the UK. Americans pay three times as much to own a car as those in India – the country in which owning a car costs the least.
Check out the infographic below, and then head over to CarFinance247 for more information on the true cost of owning a vehicle.
Featured photo credit: CarFinance247 via carfinance247.co.uk