subject: Infiniti Washington Offers Tips for Making Car Ownership More Affordable [print this page] If buying a new Infiniti is your dream but you have always driven used cars, there are some ways to make new car ownership more affordable. Infiniti Washington would love to see you behind the wheel of your dream Infiniti and offers the following tips to help you keep the costs of owning a new car down:
Keep Your Cars Longer
Studies show that Americans keep their new cars for around 5 and a half years after they buy them. If the car costs around $22,000, then you're paying $4,000 a year over the 5 and a half years (excluding maintenance, gas, interest). But if you were to drive the same car for 8 years, you'd be paying $2,750 per year to drive your car, because you can spread the costs of ownership out over the longer term. This assumes you're paying in full for the car at time of purchase, without financing. If you need a car loan to buy your new Infiniti, then you'd need to factor in the amount of interest on the loan which will increase your costs of ownership each year.
Pay Off Financing Sooner
If you can't buy a new Infiniti with cash, your next best option for reducing the costs of car ownership is to pay your car loan off faster. A four-year, $20,000 car loan with 6% interest requires car payments of about $470 per month and over $2,500 in interest over the course of the loan. If you pay your loan off faster, you reduce the amount of interest you pay and therefore reduce the costs of car ownership.
Infiniti Washington Offers Tips for Making Car Ownership More Affordable
