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Money Smart Monday: Can One Afford to Own a Car Even If They Cannot Afford to Buy One?
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616 views28likes53:29FortheloveofCarsUgandaOriginal Release: 2026-05-11

Affording to buy a car and affording to own a car are fundamentally different financial concepts; purchase ability refers to the one-time payment capability, while ownership ability involves continuous monthly expenses for fuel, maintenance, repairs, insurance, and emergencies. A person may have the funds to purchase a vehicle but lack the ongoing financial capacity to maintain it properly, making total cost of ownership a critical consideration beyond the initial purchase price.

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