Top 7 Things You’ve Never Heard About Car Ownership

If you’re like most people, you probably think that you know everything there is to know about owning a car. However, we guarantee that there are some things about car ownership that will surprise you! In this blog post, we will discuss seven of the most interesting things about owning a car. Keep reading to learn more!

​​Car dealerships make more money from repairs than they do from sales.

Car dealerships are businesses, and like any businesses, their goal is to make money. One way they do this is by selling cars, of course. But another way they make money is through repairs. 

In fact, many dealerships make more money from repairs than they do from sales. That’s because they can charge customers for labor and parts, and there’s no limit to how much they can charge. 

As a result, some dealerships may try to convince customers that their car needs repairs even if it doesn’t. They may say that a part needs to be replaced or that something needs to be adjusted. They may even perform “preventative” maintenance that isn’t actually necessary. So if you take your car to a dealership for service, be aware that you may be upsold on repairs that you don’t actually need.

One option to remedy this is to invest in a third party extended warranty that is independent of your dealership warranty so that you can get repairs covered without risking the dealership markup. This can be a great way to make car ownership a little less costly over the life of your vehicle. CarShield reviews show how basic repairs such as tires, brakes, dents and scratches can be covered by an extended warranty. 

You can deduct the cost of your car lease or purchase from your taxable income.

If you’re like most people, you probably don’t consider your car lease or purchase when it comes to doing your taxes. However, did you know that you can actually deduct the cost of your car lease or purchase from your taxable income? That’s right– if you leased or purchased a car for business purposes, you can deduct the cost of the lease or purchase from your taxable income. 

If you use your car for business purposes, you can also deduct certain expenses like gas and parking.

If you use your car for business purposes, you can also deduct certain expenses like gas and parking. This can be a great way to save money on your taxes. However, there are a few things you need to keep in mind. 

• First, you can only deduct expenses that are related to your business. For example, if you use your car to commute to and from work, you can’t deduct the cost of gas. 
• Second, you can only deduct the actual cost of the expense. For example, if you spend $20 on gas, you can only deduct $20. 
• Finally, you need to keep records of all your expenses in order to deduct them on your taxes. This means keeping receipts or other documentation of all your business-related expenses. 

By following these guidelines, you can take advantage of this tax deduction and save yourself some money.

You don’t have to pay sales tax on a new car if it’s being shipped to you out of state.

If you use your car for business purposes, you can also deduct certain expenses like gas and parking. This can be a huge benefit to car ownership. It is a great way to save money on your taxes. However, there are a few things you need to keep in mind. 

First, you can only deduct expenses that are related to your business. For example, if you use your car to commute to and from work, you can’t deduct the cost of gas. Second, you can only deduct the actual cost of the expense. For example, if you spend $20 on gas, you can only deduct $20. 

Finally, you need to keep records of all your expenses in order to deduct them on your taxes. This means keeping receipts or other documentation of all your business-related expenses. By following these guidelines, you can take advantage of this tax deduction and save yourself some money.

If you buy a used car, you can get a deduction for the depreciation of its value.

If you are looking to buy a new car, you may be wondering whether it’s better to buy used or new. There are pros and cons to both choices, but one factor that you may not have considered is taxes.

When you buy a new car, you’re generally not able to deduct any of the costs on your taxes. However, if you purchase a used car, you may be eligible for a depreciation deduction. This deduction allows you to deduct a portion of the car’s value each year that it’s owned. 

The amount of the deduction will depend on the car’s original value and how long it’s been owned. For example, if you buy a used car for $10,000 and it depreciates by $1,000 per year, you’ll be able to deduct $500 on your taxes in the first year. As you can see, there are financial benefits to buying a used car that go beyond the initial purchase price.

Cars are one of the most stolen items in the United States – make sure to take precautions to protect yours.

Cars are one of the most commonly stolen items in the United States, with over 700,000 vehicles being stolen each year. This is one car ownership fact you must consider. While this may seem like a daunting statistic, there are several things you can do to protect your car from thieves. 

One of the easiest things to do is to park in a well-lit area. Thieves are less likely to target cars that are in plain view, so parking under a streetlamp or in a driveway can help deter them. 

You should also avoid leaving valuables in your car, as this can make it a more attractive target. If you must leave something in your car, make sure it is out of sight and securely stored. 

Finally, consider installing an anti-theft device such as a steering wheel lock or kill switch. These devices can make it more difficult for thieves to steal your car, and they may deter them from targeting your vehicle altogether.

A single speeding ticket can increase your insurance rates by hundreds of dollars.

Most people are aware that speeding tickets can lead to higher insurance rates. However, many do not realize just how significant the impact can be. A single speeding ticket can cause your insurance premiums to jump by hundreds of dollars. 

In some cases, the increase can be even more dramatic. And, if you have multiple speeding tickets on your record, the impact will compound, leading to even higher rates. If you want to keep your insurance rates reasonable, it is important to avoid speeding. 

Even a single ticket can have a major impact on your premiums. So, next time you are thinking about going a little too fast, remember that it could end up costing you a lot of money down the road.

These are just a few of the things you may not know about car ownership. By understanding these facts, you can save money, keep your car safe, and avoid costly insurance increases. So, next time you’re behind the wheel, remember to drive safely and keep these things in mind.