Purchasing a personal car is indeed a significant expense. Fortunately, we can pay for it in installments. When compared to the benefits it brings to both our work and personal life, it is quite worthwhile. It's no surprise that many people in today's workforce decide to buy a personal vehicle for their use. However, hold on! For those considering buying a car, it's essential to understand that after purchasing a vehicle, there will be additional expenses related to it. We should be well-prepared for these costs; otherwise, our financial situation could easily worsen. Today, MoneyGuru.co.th brings you information about the unavoidable expenses that often follow after buying a car, so we can find ways to manage these costs. Let’s take a look!

        Unavoidable Expenses That Often Follow After Buying a Car

        1. Fuel or Gas Expenses

        Fuel or gas expenses are unavoidable costs that come after purchasing a car. Not only are they unavoidable, but they also represent a regular expense we must pay because our vehicle requires fuel to operate. Typically, fuel costs range from 2,000 to 5,000 baht per month, which is quite a significant amount, isn't it? The amount we pay for fuel can vary based on the size and model of our car, as well as how frequently we use it. If we use our car often, these expenses will increase.

        However, there’s no need to worry, as there are various ways to help reduce these costs. One popular method is converting the car to run on gas instead of petrol, which can lower expenses, but it may also lead to faster wear and tear on the engine.

        2. Car Insurance Costs (Mandatory and Voluntary)

        To put it simply, car insurance comes in two types:

  • Mandatory Car Insurance
    • This is the compulsory insurance that every vehicle must have, as required by law, to provide coverage for individuals involved in accidents.
  • Voluntary Car Insurance
    • This includes comprehensive insurance options like Class 1, 2, 2+, 3, and 3+. We can choose whether or not to purchase this insurance. If we do not have this insurance and an accident occurs, we will be responsible for all damages. However, if we have car insurance, the insurance will cover damages, but only up to the limits specified in the policy.

       3. Maintenance and Repair Costs

        Cars, like any other item, can incur damage over time. When damage occurs, there are usually associated costs. Even if there is no damage from use, we still have maintenance expenses, such as taking the car to the service center for checks after driving 10,000 kilometers. Typically, these costs range from 5,000 to 10,000 baht.

        4. Parking and Toll Fees

        These are expenses that may seem negligible but can add up. Both parking and toll fees are familiar costs for car owners. For parking fees, those living in private homes may find it easier since these costs only arise when parking outside their home. However, for those living in dormitories, it might be a bit challenging, as many dorms charge for parking services. This means that even if we don’t park elsewhere, we still incur costs. So, if you're living in a dorm and planning to buy a car, remember to consider these expenses!

        As for toll fees, the amount spent will depend on how frequently we use toll roads. If we use them often, these costs can be high, but if we use them less, the expenses will be lower.

        5. Other Expenses Incurred by the Car Owner

        Many car owners love their vehicles and often want to buy accessories or modifications, which also counts as an expense since we have to spend money on them. Additionally, if we violate traffic laws and get fined, we will need to pay those fines as well. So, don’t forget to set aside some money for these expenses; otherwise, you might find yourself in a financial bind.

        I hope this information is helpful for those planning to buy a car, so you can find ways to manage the various expenses that will arise. Before deciding to purchase a vehicle, it's wise to calculate the potential costs to see if you can afford them, ensuring that this decision does not add an excessive financial burden on you.

Thank you for the information from www.moneyguru.co.th