Car Ownership Total Cost Deception
$1,370-$1,623/month actual cost
Dealers advertise monthly payments but hide insurance, gas, maintenance, and depreciation. Your "$400 monthly car payment" actually costs $1,600 monthly.
The real cost
$16,440-$19,476 annually, rivaling rent
How to not get wrecked
- 1Calculate total cost of ownership
- 2Consider certified pre-owned
- 3Research insurance costs BEFORE buying
- 4Compare total costs vs. transit + car sharing
Related money drains
#31
Young Driver Insurance Penalty
462% age penalty
Young drivers pay nearly 5x more for car insurance: $3,550+/year vs $768 for 35+.
#32
Provincial Insurance Oligopoly
152% difference between provinces
Car insurance varies 152% by province. Alberta vs Saskatchewan can mean $2,000+/year.
#33
Gas Price Regional Exploitation
$0.56/litre difference BC vs Alberta
BC pays $0.56/litre more than Alberta for gas. That's $1,000+/year for the same fuel.
Track your spending and plug these drains with Prosperi.