245:, applied to a purchase of a car, is the amount of money the car owner could have obtained, if they, instead of buying the car, applied that amount of money to other worthy investment. The cost of capital is the rate of return that capital could be expected to earn in an alternative investment of equivalent risk. Considering by default the car has depreciation, and that such depreciation is already considered at a certain cost item, the cost of capital of owning a car, is then the income that the car owner could have obtained with the money spent on such car. One example could be a common standard interest rate in a deposit account.
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of a car is the amount its value decreases every year. Normally a car's value is correlated with the price it has on the market, but on average a car has a depreciation around 15–20% per year. Depending on market conditions, cars may depreciate 10–30% the first year. Since 2021, however, cars have
58:. Normally these expenditures are divided into fixed or standing costs and variable or running costs. Fixed costs are those which do not depend on the distance traveled by the vehicle and which the owner must pay to keep the vehicle ready for use on the road, like
129:
The car itself has a cost. The cost can be reduced by buying a reused car. But the reused car may have hidden defects, hidden problems, or be about to be out of norms. It is the most shallow and most immediate cost. But it can be delayed under a loan scheme.
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include all the money the user needs to pay to park their car. This applies normally to car parking lots, like in offices, public buildings, shopping centres or in the downtown; but also on the public space (normally in the inner part of some city) using
141:
comprises the different financial products which allows someone to acquire a car with any arrangement other than a single lump payment. When used, and for the purpose of assessing the private financial costs, one must consider only the
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The maintenance of a car can have the purpose to be a long term or a short term maintenance. This cost might be very irregular and somewhat unpredictable but tends to increase with the age of the car. On this item are included
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are the amount of money car owners pay the government to allow the car to operate within that region or state. These taxes serve to maintain the road infrastructure or to compensate the
535:
Andor, Mark A.; Gerster, Andreas; Gillingham, Kenneth T.; Horvath, Marco (April 2020). "Running a car costs much more than people think — stalling the uptake of green travel".
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serves to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise there-from.
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Repairs costs are completely unpredictable because they depend on the number and severity of car collisions, like dents repairing for example. These costs also refer to
316:. This cost might be relatively predictable, if the user for example has a monthly contract with some parking lot company, or if he rents a private parking space.
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substitution due to malfunctioning. On this cost item it might be included also the parts bought to improve the performance or the aesthetic of the vehicle.
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Itemized average total costs for the average
American driver to own and operate an automobile. This yearly value, around US$ 6650, corresponds, according to
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that need to be replaced after a certain period of time (for example every two years) or with a specific number of travelled kilometres or miles, like
328:, also known as a turnpike or tollway, is a public or private roadway for which a fee (or toll) is assessed for passage. Normally this applies to
348:, to gain access to the city-centre. This cost might be predictable if the user passes the tolled roadway, a defined number of times per month.
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is a procedure mandated by law in which a vehicle is inspected to ensure that it conforms to regulations governing safety, emissions, or both.
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paid by the car owner, as some part of the amount the owner pays each month for the finance is already embedded in the depreciations costs.
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appreciated significantly the first year due to shortages of cars and up to five-year wait times for new cars.
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considers that the average US automobile has a total cost of US$ 0.58/mile, around €0.32/km. According to the
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spends totally approximately US$ 8,700 per year, or US$ 720 per month, to own and operate their vehicle.
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Proceedings of Third
International Conference on Traffic and Transportation Studies (ICTTS2002)
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The fuel costs depend basically on four factors, namely the distance travelled by the car, the
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varies according to the frequency users clean their car, and with the price of each cleaning.
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Compared to other popular modes of passenger transportation, especially buses or trains, the
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constitutes about half the cost of running a car. The typical motorist underestimates this
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270:. In Western countries, this cost normally is the second highest after depreciation.
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Normalized car depreciation for several models obtained from online retailer from US
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380:. These tickets almost always imply the payment of a certain quantity of money.
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66:. Variable or running costs are those that depend on the use of the car, like
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has a relatively high cost per passenger-distance traveled. Motorists in the
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608:"The Effect of Land Costs on the Economics of Urban Transportation Systems"
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spend approximately 1/2 of their net income. For the average car owner,
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458:"Annual Cost to Own and Operate a Vehicle Falls to $ 8,698, Finds AAA"
337:
333:
767:"Buy These 12 Cars Used, Not New Based on Study of 14 Million Cars"
436:"Automobile costs for United States; Average monthly cost per type"
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Gössling, Stefan; Kees, Jessica; Litman, Todd (1 April 2022).
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Simon
Donohue, Business reporter (BBC) (27 August 2013).
713:"How to beat price depreciation when choosing a new car"
368:. Traffic tickets generally come in two forms, citing a
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is a notice issued by a law enforcement official to a
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but it might also apply, like in some cities such as
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are all the costs consumers pay to own and operate a
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A driving license is often required to drive a car.
823:Automobile costs calculator for the United Kingdom
828:Automobile costs calculator for the United States
790:Your guide to how we calculate car running costs
85:spend, on average, roughly 1/3 of their average
8:
698:"IRS issues standard mileage rates for 2019"
451:
449:
794:. The Automobile Association. 7 July 2014.
808:Automobile costs calculator for Australia
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656:"Cost of running a car 'exceeds £5,000'"
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818:Automobile costs calculator for Ireland
427:
376:, or a non-moving violation, such as a
813:Automobile costs calculator for Canada
732:
722:
649:
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89:to operate a car, while motorists in
7:
504:"The lifetime cost of driving a car"
112:, the average driver of the average
562:The Automobile Association (2014).
483:The Automobile Association (2014).
195:, vehicle weight, miles traveled,
25:
464:. American Automobile Association
407:Effects of the car on societies
110:American Automobile Association
765:Lee, Thomas (4 October 2016).
750:John Fuller (24 August 2009).
654:Osborne, Hilary (2006-10-20).
521:10.1016/j.ecolecon.2021.107335
456:Stepp, Erin (April 28, 2015).
1:
442:. autocosts.info. April 2016.
584:The Automobile Association.
412:Externalities of automobiles
264:energy efficiency of the car
191:. These taxes may depend on
33:Externalities of automobiles
752:"What is car depreciation?"
586:"Car running costs 2013/14"
440:Automobile Costs Calculator
864:
677:"The slow and the furious"
675:Meek, James (2004-12-20).
549:10.1038/d41586-020-01118-w
26:
696:IRS (December 14, 2018).
101:by a significant margin.
372:, such as exceeding the
291:Repairs and improvements
260:price paid for the fuel
31:of the automobile, see
617:, pp. 1422–1429,
364:accusing violation of
185:negative externalities
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47:
564:"Motoring Costs 2014"
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41:
788:"Car running costs,
508:Ecological Economics
402:Economics of car use
203:, or the car value.
52:car's internal costs
193:engine displacement
181:Vehicle Excise Duty
179:, vehicle taxes or
46:, to a small sedan.
735:has generic name (
356:A traffic fine or
223:Vehicle inspection
160:
48:
624:978-0-7844-0630-4
543:(7804): 453–455.
378:parking violation
16:(Redirected from
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388:The cost of
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366:traffic laws
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287:or filters.
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164:depreciation
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150:Depreciation
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95:depreciation
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573:(PDF file).
374:speed limit
297:spare parts
274:Maintenance
175:Car taxes,
162:The yearly
139:Car finance
120:Fixed costs
837:Categories
772:2 November
638:2008-04-15
514:: 107335.
423:References
384:Car washes
218:Inspection
177:road taxes
134:Loan costs
99:fixed cost
87:net income
64:road taxes
843:Car costs
725:cite news
685:. London.
664:. London.
590:theaa.com
571:theaa.com
489:theaa.com
346:Stockholm
330:motorways
326:toll road
281:car parts
212:Insurance
207:Insurance
201:emissions
171:Car taxes
144:interests
60:insurance
717:BBC News
468:April 4,
462:NewsRoom
396:See also
390:car wash
362:motorist
266:and the
91:Portugal
27:For the
338:tunnels
334:bridges
309:parking
303:Parking
621:
537:Nature
342:London
262:, the
632:(PDF)
611:(PDF)
567:(PDF)
352:Fines
320:Tolls
285:tires
114:sedan
72:tolls
774:2016
737:help
619:ISBN
470:2016
336:and
254:Fuel
241:The
104:The
68:fuel
545:doi
541:580
516:doi
512:194
344:or
106:IRS
79:car
70:or
62:or
56:car
44:AAA
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
