The true cost of owning a car is much more than the price on the window sticker. In Northern Utah, the total cost of ownership can include your monthly loan payment, gas, insurance, maintenance, tires, registration, repairs, and other expenses that come with keeping your vehicle on the road.
Before deciding how much car you can afford, it's important to look at the full monthly and yearly cost, not just whether the loan payment fits your budget. A vehicle with a lower sticker price can still become expensive to own if it has poor fuel economy, high insurance costs, expensive repairs, or frequent maintenance needs.
As of August 2026, the average car loan payment in Utah is around $770 for a new vehicle and $531 for a used vehicle. This monthly payment depends on vehicle price, down payment, trade-in value, interest rate, and loan term.
A longer loan term may lower the monthly payment, but it can also mean paying more interest over the life of the loan.
And, a payment that fits your budget on its own does not necessarily mean the vehicle is affordable overall.
When setting a vehicle budget, consider the payment as one part of your transportation expenses rather than the entire cost. You may also want to leave room in your budget for unexpected repairs or other vehicle-related costs.
As of August 2026, the average monthly cost of gas for a car in Utah is between $165 and $285, with a typical driver spending about $228 per month.
Fuel costs can add up quickly, especially for Northern Utah drivers who commute between communities, travel for work, or regularly make longer trips along I-15.
The amount you spend on gas depends on several factors, including:
For example, a larger SUV or truck may be the right choice for your lifestyle, but it may cost significantly more in gas than a smaller, more efficient vehicle. Before buying, estimate how many miles you expect to drive each month and compare the fuel economy of the vehicles you are considering.
The average cost of car insurance in Utah is $147 per month ($1,764 annually) for full coverage and $93 per month ($1,113 annually) for minimum coverage, according to data from Insurify.
A vehicle that seems affordable based on its purchase price may have higher insurance costs because it's expensive to repair or replace. Newer vehicles may also require more comprehensive coverage if they are financed.
Before purchasing a car, consider getting an insurance quote for the specific make and model you are considering. Comparing that number before you buy can help prevent surprises after you bring the vehicle home.
Expect to pay anywhere from $500 to $1,200 for four new tires, and expect to replace them every six years on average.
The cost of tires can vary widely based on size, brand, performance, and vehicle type. Larger trucks and SUVs generally require more expensive tires than smaller passenger vehicles due to the heavier weight of the vehicle.
Regular tire maintenance can also help extend their life. Keep an eye on tire pressure, rotate your tires as recommended (generally every 5,000-7,000 miles or every six months), and check tread depth at least once a month.
Depending on the age of your car, it costs anywhere from $54 to $211 per year to register your car in Utah.
The state of Utah charges a standard $44 registration fee for regular passenger vehicles, and then adds an age-based charge, starting at $150 for cars made in the last two years all the way down to $10 for cars 12 years or older.
You can find the most recent fee chart for age-based registration fees on the Utah DMV website.
In general, it's a good idea to budget around $100 a month for maintenance and repairs. Even a well-maintained vehicle can need unexpected repairs. A failed alternator, broken component, damaged windshield, or other issue can quickly create an expense that was not part of your original monthly budget.
In addition to repairs, whether you opt for a shiny new truck or an older sedan, every vehicle needs routine maintenance. Oil changes, filters, brakes, fluids, and battery replacement are a normal part of keeping your vehicle safe and reliable.
This is one reason the cheapest vehicle is not always the most affordable vehicle in the long run. An older car with a low purchase price may save money upfront but require more frequent repairs and maintenance.
A good way to estimate whether a vehicle fits your budget is to add together your expected monthly costs.
Monthly loan payment + insurance + fuel + maintenance costs + tire costs + registration costs = estimated monthly cost of ownership
For example, a vehicle with a $500 monthly loan payment may actually cost much more each month after insurance, gas, and other expenses are included.
The best car for your budget is not necessarily the one with the lowest price or lowest monthly payment. A better choice may be a vehicle that balances purchase price, reliability, fuel economy, insurance costs, and expected maintenance.
Before buying, consider asking:
Answering these questions before you buy can help you choose a vehicle that fits your life as well as your budget.
The real cost of owning a car in Northern Utah includes much more than the vehicle's sticker price. Your loan payment is only one piece of the puzzle. Gas, insurance, maintenance, tires, registration, and unexpected repairs can all affect how much you spend over time.
Before you shop, look at the full cost of ownership and decide what you can comfortably afford each month.
If you are preparing to buy a vehicle, Elevate Credit Union's auto loan affordability calculator can also help you explore a vehicle price range that may work with your monthly budget.