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The True Cost of Owning a Compact SUV

14
March

Over the years that it is driven, every vehicle is going to cost much more to maintain and keep on the road than just the initial price of the actual car. In addition to maintenance costs and other necessary expenditures, it is also necessary to consider how much certain expenses such as car insurance will prove to be. If a consumer is truly trying to figure out what the true cost of owning a compact sport utility vehicle is, the following key points can help them discover what areas they need to focus on. Whether a person is comparing the cost of a compact SUV versus no vehicle or versus some other type of car, the same factors will influence their findings.

Fuel economy is certainly something that drivers must consider when trying to figure out how much it will actually cost them to own a compact SUV, and the exact figures are going to depend on driving styles and the number of miles driven. A consumer that does not utilize their vehicle very much may not be impacted by a difference in three to five miles per gallon due to the fact that they don’t use a great deal of gasoline. Frequent travelers and excessive drivers are obviously going to experience a much greater impact based on the number of miles and thus the amount of gasoline they consume. While a compact SUV is likely to get better gas mileage than larger vehicles, compact cars are probably going to boast a much more appealing fuel economy.

Maintenance costs must be considered with any type of vehicle, and only a consumer that does not own a car will be free of budgeting for unexpected breakdowns and usual wear and tear components. Oil changes and other routine care are not likely to be much more expensive for a compact SUV versus any other type of car, but there certainly are some parts that are going to prove to be much more expensive. Any sport utility vehicle that has four wheel drive is going to require additional maintenance, and the extra costs in the case of a mechanical failure could be staggering due to the fact that these parts of very costly. The tires that a compact SUV uses are going to be much more expensive than most vehicles because of the larger size and required tread patterns. An individual that is concerned with the ongoing maintenance and possible costs affiliated with parts should probably look at another type of vehicle if the difference is going to be an issue.

Most individuals share the misconception that car insurance is basically the same no matter what type of vehicle is insured, and few people understand that a compact SUV could actually be more costly to insure. The line of thinking is that a larger vehicle can do more damage if it is involved in an accident, so liability coverage is going to be more expensive. However, the collision coverage is often somewhat less because of the fact that less damage will be sustained and injuries are less likely to occur for the occupants in a sport utility vehicle. The actuaries that work for all insurance companies have it figured out, and only obtaining an actual quote from an insurer can determine if the premium is going to be more or less in a person’s specific case.

Every vehicle is going to cost money to maintain and keep road worthy, and the most important factor is what type of compact SUV is in question. Some of the models available have excellent reliability and may not have the same concerns as other vehicles. An individual can never exactly predict what their car will cost them over its lifetime, and taking good care of a vehicle can help drastically reduce the unexpected repair bills and other major issues that might have to be fixed in the future.

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