COSTS OF OWNING A CAR

Buying a car is exciting, whether it’s a new model or a preowned beauty. But, before you sign the papers and take possession of your new wheels, it’s wise to think carefully about what the new car will mean for your personal finances, says Ernest North, co-founder of Naked Insurance. The two questions you should ask yourself before committing to a new car are: Can I afford the monthly costs of the car I want to buy? And, is this really the wisest way for me to spend my money?