Car Culture & Suburban Sprawl: Why Americans Can’t Have Nice Things
The Financial Confessions
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The Cost of Upkeep
depreciation is very difficult to honestly quantify for people because you don't see it as like a line item in your budget. But the value has dropped over a certain amount of time and the exact same thing happens with cars. In the first five years of a car's life, it will lose about 40% of its value on average. For new vehicles that are driven about 15,000 miles a year, just maintenance costs were just over $10,000 a year.
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