Text transcript: Money smarts in a flash
The real cost of transportation - Part 2: What it costs to own a car
Finally got your licence! Now, you a want car and all the freedom and independence that come with it! Keep in mind that whether you're leasing or buying, or getting a used or new car, the expenses can really add up.
Costs to consider:
- Gas. Your expenses will vary depending on:
- The make and model of your car
- How far you're travelling and what kind of driving you're doing (city or highway)
- Gas prices (the average price in 2018 was $1.28/L).
- Depreciation. Depreciation is calculated using the purchase price of your car, its current value and how many years you've had it.
- Licence and registration fees
The numbers cited in this infographic are based on studies conducted in the United States and Canada, including Quebec.