MyNorthwest.com: "While it might be convenient to have that sedan waiting for you in the driveway, the frequent trips to the gas station, mechanic's shop, car wash and DMV are anything but. Add to that the hours per week you spend sitting in rush-hour traffic and you might be surprised at how much time you're wasting on that "convenient" car.
And then there are the expenses. You already knew what you'd be paying each month when you signed that five-year auto loan, but that's just where your vehicle expenses start. Add to that the costs of gas, insurance, registration, tires, oil changes and general maintenance and you've got a much larger figure. According to Consumer Reports, the true cost to own an average car is more than $9,000 per year for the first five years."