You Might Want a Convertible, Because These Car Expenses are Through the Roof

Life is full of expenses. Some are impossible to avoid, such as paying rent, gas and electric bills, car insurance payments, groceries—the necessities for a busy, working individual’s lifestyle. These expenses can add up quickly and sometimes, one paycheck is not enough to take care of all these necessities, which is where payday loans can help. 

From Utah to the East Coast, people deal with car payments, gas and those inconvenient unexpected repairs—all of which can really make a dent in your wallet. Have you ever wondered how much you would save if you just didn’t have a car at all? Well, depending on the situation, it can be a lot. 

AAA analyzed the driving habits and expenses of Utah and all other states in the U.S. With the help of payday loans in some cases, many Americans lease their cars rather than buying them. Excluding the actual expense of the car itself, the average data AAA gathered about how much money could be saved if an individual didn’t have a car is still impressive. 

Gas prices fluctuate regularly, but it’s fair to say that for the most part, whether you’re in a desert state such as Utah or the milder West Coast, the weekly trips to the gas station can get pretty expensive.  The average amount an individual spends on gas each year is $2,168. 

Car insurance is another important investment every auto owner needs to make. The average American spends just over $1,000 per year on car insurance. Car insurance can be costly, but extremely beneficial in the long run. 

Repairs vary significantly based on the type of car an individual owns, how old the car is, what kind of repair is necessary, and much more. However, the average amount an American spends on car repairs each year is just under $750. 

The total of these expenses results in almost $5,000 a year. And that’s just including a few of the many expenses that come along with owning and driving a car. It seems that for many individuals, finding a way to go without vehicle ownership can lead to significant savings.

It should hardly be surprising that people in Utah and all across the U.S. apply for payday loans on a regular basis. Payday loans are great for those times where events such as unexpected car repairs come up and a typical monthly budget can get all out of whack. These events are out of an individual’s control and it’s always nice to have a grace period to comfortably pay all necessary expenses.