I used to think that buying a car involves paying for car loans and paying for petrol. It turns out that there is more spending and budgeting that needs to be done when it comes to planning for car ownership.
As a finance blog, my research is not to show you the best way to choose a car or the best car recommendation to you. At Investment Moats, we hope to equip you with a good estimate of how much it will cost you to own your prospective car.
What is Cost of Car Ownership Calculator?
My cost of car ownership calculator aims to provide you with a summary of information detailing:
- How much is your car loan
- How much you have paid in interest + car loan
- How much is your total expenses in car ownership
- How much is your yearly or monthly total cost of car ownership as a portion of your income
This will be a good budgeting tool to estimate whether you can afford a car comfortably monthly. It is design more towards a Singapore user but is flexible enough for other country’s car owners. Read more…