Sometimes cars are a good example of being able to afford to buy something but not to own it. You may be able to eke out enough money each month to pay for that fancy sports car you love, but can you afford routine repairs that cost 50 percent more than repairs on a less sporty vehicle, tires that cost twice as much, the extra gasoline you'll use by hot-rodding around in a big, gas-guzzling car, and the higher insurance?

You may be tempted by the looks of certain cars or trucks, or the affordable price of a particular model, but there's more to consider than appearances and cost when buying a new car. What's the repair record of this make and model? Are there problems with certain components of the car, such as the brakes or the transmission? What does it cost for routine repairs and maintenance? What kind of mileage does it get? What does it cost to insure? How is its safety record? These are all things you should know before you visit the dealership, especially if costs are important to you.

You can buy a new car for $10,000, but if it's not well made or doesn't have a good repair record, you are likely to end up pumping money into repairs. If, on the other hand, you buy a more expensive car with a good repair record, you may save money over the life of the car. Consumer Reports does extensive research on the repair records of many makes and models, so if you do your homework before you buy, you may avoid a costly mistake.

Auto Insurance

You may not have given much thought to how auto insurance rates are calculated, but the make and model of the car you buy can have a significant impact on the cost of your auto insurance. Some models are much more expensive to repair than others if they're damaged in an accident. Some models are more likely to be stolen. Insurance companies factor these things into their calculations in addition to such things as the city and state the car will be used in, how much mileage you expect to put on it each year, your driving record, and your claim history.