First car · Part 4 of 4
Budget for ownership costs
Will the car still fit when uneven bills arrive?
Keep the full cost in your budget
Budget for the payment, insurance, and fuel each month. Repairs and registration may arrive less often, but they still belong in the monthly plan.
Set aside money for uneven bills
Repair and registration bills can arrive months apart. Enter annual estimates below to see what to save each month.
Plan for uneven car bills
$1,140 estimated yearly repairs and renewals
Set aside $95 each month
With payment, insurance, and fuel: $742/mo total
Move the reserve to a separate car fund each month so a renewal or repair does not consume the rest of your budget.
Recheck the plan as life changes
Recheck costs when insurance, your commute, or repair needs change. If a payment becomes hard to make, contact the lender early.
After the loan is paid off, you can redirect part of the old payment to future repairs or your next car.