As inflation hits every area of consumers' lives, vehicles are no exception. Here's how prices are rising on cars, gas, insurance, and maintenance.
SAN FRANCISCO -- New cars are expensive these days, up more than 12% from last year at this time. Used cars prices are going up even faster, with prices up more than 40% from a year ago. Buying a car just may be the easy part; owning, driving and maintaining one will cost you plenty, too."Drivers in your area could be expected to spend over 3% of their monthly income on gas alone," says Finance buzz's Rebecca Wright."SUV drivers or pickup truck drivers, they're 4.
Vallejo resident Rebecca Fisher agrees with that assessment. She and her husband are spending more on gas than they have ever spent before."So last month alone I paid $600," says Rebecca Fisher,"and that's with my husband working from home three days a week." And what's even more amazing -- California drivers could count themselves lucky. They spend more for gas at the pump, but it is often a smaller portion of their budget than for those living in other states.
Finance Buzz's Rebecca Wright says,"It's almost sort of surprising that California is actually not up there in the top 10 of states who are spending the most percentage of their income against gas prices." Those living in the southeast earn less and drive farther, making gasoline a larger percentage of their budget -- as much as 5%.
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