How Much Do Cars Cost in 2023?
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Determining the Average Car Cost
Other Costs Associated With a Car Purchase
Documentation fee — Thiscovers the cost of the paperwork drawn up for the sale of the car, and the amount varies by state. Some states put a cap on the fee, while others don’t. Destination charge — This is a federally regulated fee that covers the freight charge for getting the car from the manufacturer to the dealer. The fee is based on the make and model of the car. Inspection and emissions fee — Cars are required to undergo a safety and emissions inspection in many states. The dealership does the testing and the buyer pays the cost, which generally ranges from about $7 to $40. Market adjustment — Dealers may charge fees that put the car over the manufacturer’s suggested retail price (MSRP). You can try to negotiate them down. GAP insurance Guaranteed asset protection (GAP) covers the price difference between your car’s value and what you owe on your auto loan if the car is stolen or totaled. It could be helpful to have if you’re upside down on your car loan. If GAP insurance interests you, shop around. Some car insurance companies offer it and you may be able to get a better price. Extended warranty — This warranty is intended to kick in after the manufacturer’s warranty expires. Carefully read the terms and conditions to see exactly what’s covered and how long the coverage for each item lasts. You may decide you don’t need it. Tire and wheel protection — This covers tire and wheel repair costs due to damage from potholes, nails, and other items. Consider the price of the protection and the likelihood of such damage happening to help figure out if it’s worth it for you.
Title and Tag Registration
Refinancing an Existing Car Loan vs Getting a New Car
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