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What is the true cost of purchasing a car?

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What is the true cost of purchasing a car? Before you start shopping for a new car, it’s important to understand the true cost of purchasing a vehicle. The price you see on the sticker is just the starting point – once you factor in things like taxes, fees, interest rates, and loan payments, the final cost can be significantly higher. And that’s not even taking into account the ongoing costs of things like insurance, gas, and maintenance. In other words, the true cost of owning a car is much more than just the initial purchase price. So, before you head to the dealership, make sure you do your homework and understand all of the costs involved in owning a vehicle. That way, you can make an informed decision about whether a car is truly right for you.

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Ms. Black, the host of Staying in the Black, is a single mom, homeowner, and public-school educator in NYC. She owns two properties and is one mortgage away from being totally debt-free. She loves traveling the world with her family and has over $500,000 in her retirement accounts beyond her pension.


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