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Car costs at a glance: How much does a car really cost per month?
Find out how much a car really costs per month and what factors you should take into account. From acquisition costs to refueling - all expenses at a glance.
Car costs at a glance: How much does a car really cost per month?
Driving is a costly affair that adds up every month. In addition to the obvious costs like fuel and insurance, there are numerous other expenses that car owners need to consider. A crucial factor when calculating monthly car costs is the purchase cost. If the car purchase cannot be paid for in full immediately, monthly installment payments may apply. These additional obligations contribute to the overall price of the vehicle being higher. It is worth considering whether paying the purchase price directly is more economical, as installment payments can increase the final price.
Another important cost factor when using a car every month is the cost of fuel. In recent years, the price of gasoline has risen dramatically, which has a significant impact on monthly expenses. The cost of filling up a tank can vary significantly depending on the vehicle model and driving habits. Frequent drivers or owners of vehicles with high fuel consumption in particular have to expect correspondingly higher monthly expenses.
Car insurance costs are another aspect to consider. Motor vehicle liability insurance is required by law and must be taken out by every car owner. The amount of insurance premiums depends on various factors, including the value of the vehicle, the driving experience of the main driver and the insurance service chosen. In addition to the mandatory liability insurance, other insurance can be taken out, such as a car protection letter or passenger accident insurance.
Vehicle tax is another regular cost item. The amount of the tax depends on the engine capacity of the vehicle, the emissions class and, since 2021, also on CO₂ emissions. Cars with low CO₂ emissions receive tax advantages, while vehicles with higher emissions have to pay higher taxes. The vehicle tax is usually collected annually and can also be paid quarterly depending on the insurance company.
In addition to regular costs, car owners also need to consider possible repairs and unforeseen expenses. Money for unforeseen repairs should therefore be set aside regularly in order to be financially prepared for such situations. Overall, it is important to include all relevant spending factors such as fuel, insurance, taxes, acquisition costs and repairs in the monthly calculation of a car.