Here's the True-Blue Cost of Owning a Vehicle

It's not necessary to look to statistics of vehicle ownership in the United States to realize that virtually everyone - at least those who work, have kids, go to church, or even visit the grocery store - needs a vehicle to live their lives. But how much does a car really cost?

All cars incur a loss of value over their working lives, also called depreciation. Fortunately, however, you're able to take tax deductions over a five-year period thanks to the Internal Revenue Service's MACRS, or modified accelerated cost recovery system.

A good set of tires is often expensive, and is unarguably necessary to stay safe on the road. They're changed, on most vehicles, once per annum.

Residents of every state outside of Virginia and New Hampshire are required to pay insurance, typically taken as monthly payments.

Swing by Priority Honda Hampton and let us help you determine what your budget can comfortably afford when shopping for your next vehicle.
Categories: Finance

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