Drive smarter. Compare the total cost of ownership between a new and used car, including depreciation, fuel, and insurance.
Total Cost of Ownership
It's not just the sticker price. See what really drains your wallet.
A new car loses about 20% of its value the moment you drive it off the lot. That's thousands of dollars vanishing instantly.
Used cars have already taken this hit, meaning you lose less money over time just by owning it.
New cars are more expensive to replace, so insurance companies charge more to cover them.
Driving a slightly older car can save you hundreds of dollars a year in premiums.
While used cars are cheaper to buy, they can be more expensive to keep running.
As cars age, parts wear out. You might save on the loan, but you need to budget for repairs that a new car under warranty wouldn't need.
Newer cars often have better fuel efficiency. If you drive a lot, the gas savings from a new hybrid might outweigh the higher purchase price.
Always check the MPG!