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by Daniel Gloade on July 15, 2014

A few months ago, I wrote an article on car costs v. the cost of mass transit.  I cited statistics from the Canadian Automobile Association.  You can find it here:

The Bank of Montreal has just released a report regarding annual car costs.  You can find it here.

I prefer the CAA Report because it assesses actual costs.  The Bank of Montreal only records what consumers claim to be their annual costs.  I believe the C.A.A. Report proves, however, that consumers underestimate the annual car costs.

This issue is important for me.  As a lawyer, I review Financial Statements.  If people’s self-report on automobile expenses are too low, one wonders what else is frequently underestimated.

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