Transportation expense takes up a considerable percentage of the income of the average American working person. While fuel, maintenance and insurance costs certainly add up, the initial purchase price of the vehicle is the largest part of the expense. Before making a decision about which automobile will meet your needs, it is wise to check the Toyota model purchase and maintenance costs against other comparable models available for purchase. A great source of information can be found at websites such as Toyota Cost of Ownership where the Toyota model comparisons show the annual and monthly cost of ownership for the most popular automobiles is outlined.
The Toyota company is confident that their most popular models are very affordable, and compare favorably with models sold by the other major car manufacturers such as Ford, GMC and Dodge. This favorable comparison can be applied to vehicle classes ranging from the Corolla LE at $15 per month to the full-sized and powerful Tundra Crew Max at $69 per month over the first five years of service.
Many people are concerned about protecting the environment, so they opt to purchase a hybrid vehicle that consumes less petroleum based fuel. These vehicles are partially powered by electricity, and the Toyota Prius compares favorably with similar hybrid vehicles offered to the public today. The purchase price of the Ford Fusion hybrid is approximately $3,000 more than the Prius, and the dependable Prius can be expected to perform well for approximately 10 years.
Most people who purchase an automobile take advantage of a payment plan offered by the dealership or their own financial institution. The monthly payments can be spread out over a span of 36 to 72 months, but only brand new or vehicles less than three years old can be financed for five years or more. Typically, 72 month contracts are available only for customers who have an excellent credit rating. It will also be necessary for the buyer to carry adequate insurance on their vehicle to ensure the loan can be completely paid off in the unfortunate instance of an accident that totals the car.