Every driver understands that vehicle ownership involves more than initial purchase-related costs. That said, many drivers fail to take into account the costs related to every possible usage, emergency and maintenance scenario. As a result, they sometimes experience horrible debt because of these hidden car costs. Whether you’ve just bought your first vehicle or you’ve owned vehicles for many years, keep the following four hidden costs in mind when setting aside money for your vehicle budget:
Winter Car Cleaning
In geographic regions that experience seasonal ice and snow conditions, local and state officials maintain roads with more than snow plows. They often drop highly corrosive materials known as road salt and ice melt on streets and major highways. These products primarily impact the underside of a vehicle, especially the exhaust system. They can also rust the body side panels and any exposed metal parts associated with the wheels. You prevent rust by spending extra time and money washing your car’s exterior and undercarriage thoroughly on a regular basis during winter with an approved car wash product or by going to a physical car wash.
Privilege Fees
Many repeat fees exist beyond the most obvious ones related to the privilege of driving a vehicle, such as license and registration renewal and insurance premium fees. For example, you might pay toll fees for the privilege of crossing a bridge or using a particular road. You usually must pay parking fees in a large town or city for the privilege to park your vehicle on a street or in a parking garage. These fees can add up to hundreds of dollars in a short time unless they’re reimbursed through your employer for work travel. Even if you can deduct privilege fees related to medical travel when filing taxes or receive a state-sponsored transportation reimbursement, you still need up front money to pay them.
Glass Repairs
No matter the make and model of a vehicle, a modern car’s windshield and windows typically handle debris impacts and other damage-related events better than, for example, house windows. A windshield typically has laminate layers that help prevent major damage from debris and protect people inside of a vehicle from large shards of flying glass during an accident. Car windows do the same with durable tempered glass. Yet, even with these special formulations, any glass surface, especially windshield glass that’s constantly hit by road debris, can experience chips, scratches and cracks at any time. You must budget for these repairs and the potential for total windshield replacement if your insurance policy doesn’t cover glass damage.
Patch Body Repairs
If you want your car to always look its best, then you must also set aside money for external cosmetic and non-cosmetic repairs that happen in spots on the body, such as paint scratches, small and large dings and metal deterioration caused by corrosion. Some insurance companies don’t cover the costs related to fixing tiny paint scratches and dings or charge higher premiums to drivers who repeatedly file related claims. Although DIY options exist for some small spots, you might need to pay a professional to pull out a large ding that has caused surface warping, for example, because some dings can weaken a vehicle’s body. The hidden cost related to patch body repairs isn’t always small. You might need your entire vehicle repainted and resealed. With rust spots, a professional might have to replace entire panels.
When creating your budget, it’s important to consider general recommendations and your specific circumstances. For example, car owners should set aside at least $1,200 to $1,500 a year for vehicle maintenance, which includes small DIY and professional repairs. Depending on your needs in a specific year, you might not use anywhere near these amounts or spend a lot more, but at least you have money set aside. Of course, if you must pay toll, parking or other privilege fees, you need to estimate the costs and add the total amount to your budget as well.
You might also like:
- Avoid the Car Debt Trap
- 7 Tips on Car Insurance
- Car Repair on a Budget
- How Much Car Insurance Do You Really Need?
- Cranky Car? A Short Guide to Simple DIY Auto Repairs
- Bad Credit: What You Need to Know About Buying a Car with Poor Credit
- Broken Cars, Broken Bones, and Broken Finances: How to Manage Your Money after an Accident
