In considering vehicles for purchase, one of the first decisions most shoppers will make is whether to buy new or used. A big factor in making that initial decision will be cost to own -- how much the vehicle costs to finance, repair, maintain, fuel and insure -- as well as what the resale value will be down the road.

A new vehicle can depreciate by as much as 20 percent the moment the buyer drives it off the dealer's lot. While every vehicle continues to depreciate throughout its life, the depreciation is never as large as that initial hit when it is brand new. Recent research by Carfax indicates that, for a lot of people, this alone is reason enough to consider a pre-owned vehicle.

Today, free online tools are available that allow car shoppers to determine the cost to own. Simply by entering make, model and information such as year, trim and current mileage, shoppers can obtain a detailed summary of what the probable cost will be to own for that vehicle. The summaries are broken down by category of cost and cover the first five years of ownership, based on a 60-month financing term for new or recent models. While these tools are helpful to consumers doing their research at home, they may not always be accessible when consumers are actively shopping on dealer lots.

With that in mind, car shoppers may wish to make a list of the general maintenance and repair requirements, and use the list as a guide while shopping or as a prompt for asking the seller questions. Consumers can also visit manufacturer or dealer Web sites, as many of these companies now offer recommended service schedules.

Many of the major maintenance and repair expenses will occur in the second or third year of the vehicle's life, when the mileage reaches between 30,000 and 50,000 miles. On average, drivers will put between 12,000 and 15,000 miles on a vehicle annually. This mileage estimate also can be used as a guide for estimating when or how frequently a repair will be necessary.

Some examples of these repair and maintenance items include getting the engine serviced every 30,000 miles, replacing all belts at the appropriate times, checking tires for wear and balance, having the cooling system checked every few years and having the transmission checked.

Knowing a pre-owned vehicle's past is key to predicting its future and helps to further answer questions regarding value and cost to own. By obtaining a vehicle history report from Carfax, shoppers can determine how the vehicle was used.

Specifically, shoppers can learn whether the mileage is accurate, or whether past events such as an accident or flooding have occurred, which affect the safety and value of the vehicle. Mileage histories can indicate an odometer rollback, which means the vehicle has more miles on it than shown on the odometer, and that repairs may be required sooner than expected.

Since vehicle history reports do provide this mileage "roadmap," they also help the shopper determine if maintenance requirements have been met or should be completed prior to purchase. Histories are also helpful in determining whether the vehicle's previous owners drove it "hard," which can mean an accelerated maintenance schedule.

If a report reveals a past accident or water damage, airbag, electrical or brake systems may not have been repaired correctly. Past damage can also affect the value of the vehicle and insurability.

Anticipating the potential repairs and upkeep on a vehicle can help consumers find the right car to meet their needs and budget. Following through on regular maintenance can keep those ownership and operating costs on schedule as well. Evaluating the cost to own along with the price helps bargain hunters find not just the best deal today, but the most affordable vehicle for next week, month and year.

This content sponsored and provided by Carfax.com.