The costs of buying a car used?

August 28th, 2010 | by |
buying used car
Rhi asked:


So im nearly 17 and for my birthday am getting driving lessons
after i pass my test i am planning to buy a used car.

But i have no idea about the cost of having a car.. like taxes, insurance or how they are paid or anything!

any help would be really useful thanks!

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2 Responses to “The costs of buying a car used?”

  1. By jediggs on Dec 20, 2008

    well they are all paid by you as for taxes that is done at time of sale at your dealership or if you buy from private owner when you register to apply for tags at the DMV you pay your taxes then,, as for insurance i live in maryland so for a new driver that is costly ask your parents if they will add you to there policy or if not talk to an agent they will give you an idea of cost and payment plans.

  2. By mccoyblues on Dec 21, 2008

    The actual car payment is only a portion of the total cost to operate a vehicle. If you are in a state that taxes cars yearly, like we have here in Georgia the tax is based on the value of the car. The newer the car, the more tax you pay.

    Insurance can run several thousand dollars a year for a young inexperienced driver. It all depends on the car you own and the city you live in.

    There are also maintenance costs and of course fuel costs. Maintenance can be anything from a simple oil change 4 times a year to new tires, wiper blades, hoses and belts all the way up to mechanical breakdown of major components like the A/C, brakes, transmission or electrical system.

    If you can afford it you need to pay cash for all of these expenses. If you must get a loan to buy the car, make sure you use a reputable small Bank or Credit Union for your financing. The ONLY THING you should use the loan for is the actual cost of the car. DO NOT finance things like registration and tag fees or insurance. Those costs always come out of your pocket.

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