Car Ownership Costs 2026: Insurance, Maintenance, and Financing Explained
Buying a car in 2026, whether it's the Tata Punch Facelift or the BYD Sealion 7, is an investment. However, the true cost of ownership goes beyond the ex-showroom price. In this guide, we break down the essential costs you need to plan for.
1. Car Insurance Premiums in 2026
Insurance rates have shifted this year. For new SUVs, we highly recommend Zero-Depreciation Insurance. This ensures that in the event of a claim, you don't pay for the plastic or fiber parts out of pocket. For EVs like BYD, look for Battery Protection covers, as battery replacement is the highest expense for electric car owners.
2. Low-Interest Car Loans and Financing
With the current 2026 banking trends, many lenders are offering Green Car Loans with 0.5% lower interest rates for electric vehicles. If you are financing a car under ₹10 Lakh, a 5-year tenure is currently the sweet spot for the lowest total interest paid.
3. Estimated Maintenance Costs
| Car Category | Annual Service Est. |
|---|---|
| Hatchback / Sub-Compact | ₹6,000 - ₹8,500 |
| Electric SUV (EV) | ₹3,000 - ₹5,000 |
