According to the American Automobile Association, one third of drivers in the U.S. cannot pay for an unforeseen vehicle repair without going into debt.
Tag: cost of ownership
In its annual Your Driving Costs study, AAA says the cost of owning and operating a vehicle has fallen on the back of lower fuel prices, though its findings leave a little to be desired with current fuel costs.
Recently, I spent some of my procrastinating time in Facebook discussion with a colleague, motoring journalist here in Czech Republic. He was driving a new Range Rover at the time, and he was raving about how great car it was. But there was one flaw, he said. The car came with the most common engine on our market – the TDV6 diesel. And while it didn’t really lack power and was reasonable refined, even for the luxury car it is, there was one thing it just lacked. A V8. Preferably, of the gasoline-burning kind.
The Toyota Prius was ranked at the top of Consumer Reports’ Best New Car Value scoring for the second year in a row. CR’s analysis ranked over 200 vehicles on performance, reliability and costs and determined that over five years the Prius will cost 47 cents per mile to own and operate. Lower depreciation and operating costs for the Prius offset paying a premium for the hybrid.
“The Prius’ 44 mpg overall is the best fuel economy of any non-plug-in car that Consumer Reports has tested,” Rik Paul, the magazine’s automotive editor, said in a statement. “Though it’s not particularly cheap to buy, the Prius’ depreciation is so low that it costs less to own over the first five years than its initial MSRP. We call that a bargain.” (Read More…)
One thousand, nine hundred, and fifty two dollars.
That is how much the average Georgian is supposed to pay in tax, title, and registration fees every year according to Bankrate.com.
When I read that factoid, my eyebrows almost flew off my head. The amount had no cents, and the statement made no sense because I happen to be the guy who collects the taxes from my customers and sends them to the state. Only a $28,000+ car purchase every single year would make this possible, and Georgia is a notoriously poor state. Out of a population of nearly 10 million, our state registered fewer than 300,000 new vehicle sales in 2012.
I quickly concluded that Bankrate.com had done little homework except to launched a PR campaign, under the guise of a study, that was heavy on the numbers and light on the facts.
I also decided to read through the list since 49 other states were also given their daily dose of tax calculations. Immediately, I saw enough red flags to warrant a bit more detail.