Have you noticed the increase in car commercials on tv lately? That’s an effort by the car companies to battle a new trend: more young people are choosing to not own a vehicle. They are taking public transportation where available and don’t see much reason to own a car, at least in this stage of their lives.
It’s probably a result of several factors including the high cost of owning a car. Have these young people become smarter than the rest of us? Or would they buy a car if they could afford it? Are they more concerned about the environment than drivers?
If you find yourself looking to buy a car or truck there are many things you consider. Most of us put miles per gallon pretty high on the list. You can also check the true cost of owning various vehicles for free on Edmunds.com. From their site: “These extra costs include: depreciation, interest on your loan, taxes and fees, insurance premiums, fuel costs, maintenance, and repairs.”
I have no affiliation with Edmunds. I hope it’s helpful to you if you are looking for a car or truck, whether it’s a new or used.
For a quick look at 10 cars that are the lowest cost to own over a 5-year period (according to MSN), click here.
It will be interesting to see if the car companies manage to get more young people to buy cars.