cost of owning car

Are you a first-time car owner ready to financially plan your new investment? The cost of owning a car can be a bit overwhelming if you don’t know what to expect. Buying a car is a rewarding and big step in life. Or perhaps you’re an existing car owner looking for tips on the cost of owning a car and how to manage your car expenses better.

We’re going to break down the costs of owning a car to help you feel more prepared. Financial setbacks often come from unexpected costs; no matter how well you budget, they can catch you by surprise.

Monthly installments

Depending on how you paid for your car, unless you paid the full amount upfront, you’ll have to pay monthly installments for your car’s total cost. These monthly installments usually have an interest rate as well. Budget for your car and always keep in mind the interest rate on monthly payments. Doing so will prevent you from getting a little shock at what you owe.

Petrol & Oil

One of the most standard costs you’ll have to pay as a car owner is your petrol and oil. The amount you spend on petrol varies depending on your car, the size of the tank, and how often you drive.

Most people spend anywhere between R300 and R1000+ to fill their tank. The more you drive, the more often you’ll need to fill up. The cost of petrol also fluctuates a lot, so you might end up spending more than you originally budgeted for when you bought your car.

car budgeting oil


Car insurance is a highly recommended must-have! Sometimes people think they won’t need insurance because they only use their car to go to the shops or drop and fetch kids from school.

However, vehicle theft or damage can happen to anyone anywhere, and having insurance can help you save a lot on an unexpected cost like that! Car insurance is cover for your car in case of an accident, damage, or theft and is very useful. If you are going to take out a loan or make a down payment for your car, the bank will often require that you have insurance as well.

Roadside Assistance

Some insurance plans include roadside assistance, but not all do. Check with your insurance provider if Roadside Assistance is included. We also offer a great assistance service called YouAssist. YouAssist provides you with easy, affordable access to Medical Assist, Trauma Assist, Crime Assist, Legal Assist, Home Safe Chauffeur, and the GoRhino Loyalty Card.

Roadside assistance isn’t absolutely necessary, but it is extremely helpful and reduces the stress over “in case of an accident.”

Annual Services

When initially buying a car there is usually an annual service plan included. It’s important to note that this free service plan will expire after a certain amount of time and you’ll have to start paying for it. The annual services are very important to check if your vehicle is safe for the roads if anything needs replacing, or checking and repairing any wear & tear.

Annual service plan pricing varies depending on the type of car you have and the repairs and maintenance you need.

car insurance


Your driving license will need to be renewed before it expires. There is a general transaction fee of R72. Contact your local licensing office to find out the other costs and processes for renewal.


Another crucial factor of vehicle costs is the security to keep it safe. Getting extra security measures installed such as a tracking device, gear lock, dashcam, etc. can help keep your vehicle safe.

Fortunately, this is just a once-off installation fee and not a monthly fee. Before going ahead though, check if your insurance provider offers tracking installation for free as part of your premium.

Parking, Tolls and Fines

Last but not least are the general extra payments that come with driving around. These are the security parking fees, tolls and fines to consider.

Of course, fines are avoidable if you are a responsible driver and follow the rules of the road. Whereas parking fees and tolls are beyond your control and just a part of life.

In Summary

car fines

The cost of owning a car varies on many factors. A few of these include things such as what car you have, what monthly installments you need to pay, insurance, petrol and many more.

Although not all of the above will apply to everybody, we recommend you budget it in to avoid costly surprises. When it comes to narrowing down the necessities, we hope you include car insurance in there.

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