Teen Driving: How Much it Costs?

Teen Driving: How Much it Costs?

If you want your teen to drive you must know how much it will cost, and perhaps make him or her responsible for some expenses. Here you will learn all the important financial details. Keep reading and discover much more!

If you want your teen to drive you must know how much it will cost, and perhaps make him or her responsible for some expenses. Here you will learn all the important financial details. Keep reading and discover much more!

There’s no denying the freedom that comes with driving—but don’t let the excitement block your view of the expenses. Even if someone else supplies the car (thanks, Mom! thanks, Dad!), driving dollars can add up faster than you might think. This quick tip sheet breaks down the costs for new drivers and how to manage them.

Your first step is to learn how to drive.

Your first step is to learn how to drive. Many states require new drivers to have a certain number of hours in state-approved driver’s ed, and those classes may come with a fee. There are many places that offer classes, such as driving schools, $50–$80 per hour, community organizations, usually for a fee, and some high schools, where it may be free.

The total amount you’ll owe to your state’s Department of Motor Vehicles covers a learner’s permit if you need one, and any required driving tests. It usually costs between $10–$100. 

You also need to think about the gas which can cost $2.68 a gallon, approximately $33-$42 to fill the tank. We calculate $1,750 annually. Of course, this depends on how much you use your car. 

Gas prices go up and down, so make sure you adjust your budget when they change. Bare in mind that free apps can locate the lowest prices near you.

If you drive toll roads regularly, add up what it’s likely to cost you each week, say, $10. You may be able to bypass them by taking an alternative route. For road trips, preplan with an app to avoid costly tolls.

If you pay tolls electronically, make sure you always have enough in your bank account to cover the charges. If not, you might get hit with overdraft fees.

If you drive toll roads regularly, add up what it’s likely to cost you each week, say, $10. You may be able to bypass them by taking an alternative route.

Parking and maintenance will add some more money to your car expenses. However, this depends a lot of the car you purchase and your personal choices. 

While it may seem like a lot to think about, don’t let what it costs to drive overwhelm you. Auto expenses can be easily managed if you budget for them. Refer to this list regularly, and your only look back will be through the rearview mirror.

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