Buying a car involves more than just servicing your monthly repayments. You’ll need to take into account road tax, car insurance, maintenance and servicing as well as its running costs (petrol, toll and parking).

Car insurance is a top priority. So you should check out the ones available in the market and under what circumstances does it cover. Take your time to find one that suits your needs best and don’t rush into one.

Make sure you can comfortably afford your insurance payment. Find out if it’s cheaper to pay monthly without increasing the cost.

With increase in petrol or toll prices as well as inflation for your car’s maintenance, you’ll need to plan your budget carefully so that you don’t drown yourself in debt.

Ongoing expenses for maintenance and repairs may vary depending on the workshop chosen. Generally you pay more for original parts especially those imported from overseas.

Even new cars break down so it’s best if you put aside some cash for a membership with automobile associations like AAM.