A recent study shows that the United States is one of the most expensive places to own a car, while India is one of the cheapest.
Comparing Car Ownership Expenses Across Countries
High Expenses in the United States
A recent CarFinance247 study conducted by Mediaworks surveyed the cost of buying a new or used car along with the cost of running it for one year. Running costs included insurance and fuel costs. The study found that the United States is one of the most expensive places to own a car, mainly due to the fact that the initial car cost is higher.
Average Car Running Costs in the UK and India
In the UK, the average cost of buying and running a car for a year is $26,963. In the United States the average is $35,181.19. India graces the bottom of the list, where the average cost of buying and running a car is $12,507.99.
Tips for Finding Cost-Effective Car Deals
Smart Strategies for Car Buyers in the United States
Expats moving to the United States, where a car is a must-have in most areas, need not worry. The key to keeping down the costs of car buying and ownership is to find the most practical car at the best rates. The type of vehicle and the manufacturer make a big difference in the cost of the buying a car.
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Researching and Choosing the Right Vehicle
First, do the research to find the types of vehicles that interest you in your price range. Learn the different body styles; small and mid-size sedans are typically lower in cost than an SUV or crossover.
Brands and Budget Considerations
Next, research brands that interest you. If money is a concern, stay clear of luxury brands and opt for brands known for their value.
Navigating Credit Challenges in the US
Buying a vehicle in the United States without a local credit history can make the prices exponentially more expensive.
Leveraging Expat Car Companies
Working with an Expat car company like International AutoSource will help you get better pricing and better rates on your auto loan. The product specialists at International AutoSource can help you find vehicles in your price range that are the perfect fit for you and your family.
