Owning a Vehicle
Now that you have a new job it may be really tempting to purchase your first
vehicle. The true cost of vehicle ownership can be higher than you think. Owning
a vehicle is more than the monthly payments. It can be helpful to have a budget
before you begin shopping. Here is list of some of the expenses that you would
expect to have. The Canadian Automobile Association has a great brochure on
the costs of driving at : https://www.caa.ca/canadians-unclear-about-the-true-cost-
of-owning-a-vehicle/
Here are some additional driving costs to factor
in:
Auto Insurance. Here is a link to the
Insurance Corporation of B.C. (ICBC) Autoplan
Insurance for more information on insurance:
http://www.icbc.com/autoplan/Pages/
Default.aspx.
FreeImages.com Content License-Ramzi hashisho
License and Registration. Here is a link to ICBC Registration
http://www.icbc.com/vehicle-registration/Pages/default.aspx .
Summer/All Season Tires and Winter Tires. Although winter tires are not
mandatory in all of B.C., keep in mind that the Ministry of Transportation and
Infrastructure can designate them to be required on certain roads and highways,
such as here. https://www2.gov.bc.ca/gov/content/transportation/driving-and-
cycling/traveller-information/seasonal/winter-driving/winter-tire-and-chain-up-
routes?keyword=winter&keyword=tire&keyword=rules
Winter tires are required in B.C. on many rural highways and high mountain
passes in the Interior, North and Vancouver Island. If you're driving on these roads
without winter tires, police can ticket you and make you turn back. The Canadian
Automobile Association (CAA) estimates that a new set of winter tires can cost up
to $968.96, depending on your vehicle.
Maintenance. This can be a bit tricky to budget, because it really depends on
your vehicle. CAA estimates that you can budget 3.27 cents/Km driven. More info
on maintenance costs can be found here:
https://www.caa.ca/canadians-unclear-about-the-true-cost-of-owning-a-vehicle/
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