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How much does owning a car cost per month?

As the quality of life is gradually improving, consumption trends are also changing. Currently, the demand for buying cars for sale in {Region} is increasing because of the value of use and efficiency that cars bring rather than for the purpose of showing off. So how much does a car cost per month?

Demand to buy cars for sale in {Region}

Along with the development of the economy, the Philippines is entering the stage of car socialization. According to experts, people's living standards are increasingly being raised, when price of car in the Philippines tend to decrease, making cars become more and more popular means of people today. Calculating your total monthly car ownership costs or a car you're about to buy is the best way to make sure your car budget fits your future plans like buying a home, business,…

How much does a car really cost per month?

Gas
Gasoline prices are also changing on a daily basis depending on market fluctuations. It is impossible to predict exactly what gas prices will be, but over the past five years, the average gas price in the Philippines has ranged from 65 pesos to 79 pesos per liter.

Maintenance and repairs
If your car is still under warranty, you won't have to pay any extra for repairs within three years/36,000 miles. In the event that the warranty expires, you will have to pay this cost yourself and more or less depends on how well you take care of the car. Try estimating this cost per month and consider buying an extended warranty if it makes more sense.

Depreciation
Although the monthly depreciation you don't pay directly, your car will gradually lose its value over time. This will affect your total cost of ownership. Cars for sale are estimated to lose about 20% to 30% of their value the first year and 15% to 18% each year thereafter.

Conclusion

By calculating the total cost each month, you will have a more reasonable spending and saving plan. Ideally, you should spend less than 15% to 20% of your income on vehicle expenses. If you are looking to buy cars for sale in {Region}, Philkotse.com is a reputable address for you. Here, you will easily find the body type, model, brand you like easily and quickly.