The act of buying a car is relatively simple – you save up the money, head to the dealership, and sign your contract. But keeping track of what happens after you drive off the lot can be a lot more confusing. Unlike most other things we buy, cars don't have just one price tag – the price you pay on the lot is seldom the price that will be important when it comes time to sell, for example. Understanding the basics of what you can expect to pay as a car owner, as well as how your vehicle's value will change over its lifespan, is important to hassle-free car ownership.

The difference between price and cost of ownership
Just because your car carries a lower sticker price, that doesn't mean you'll necessarily end up paying less for it, especially in the long run. This is because regardless of what you pay to purchase a car, its actual cost of ownership must be considered separately. According to Kelley Blue Book, the five-year cost to own is a value that takes into account factors such as maintenance costs, fuel and insurance, along with the standard car payments, to give you a clearer picture of what you can reasonably expect to pay. So even though you found a great deal on a car, you'll want to do your research to make sure you won't actually end up paying more later.

Know what's up when the value goes down
You may have heard that your car is an investment, but what exactly does that mean? Simply put, what you pay for won't necessarily be what your wheels are worth when it's time to trade in. In fact, the value of a vehicle typically depreciates quickly in just a few years, so be prepared for that when it's trade-in time.

Interestingly, USA Today noted that on occasion the value of a used car can actually appreciate, or go up. Though as the source reported, this is largely due to environmental and economic factors and shouldn't typically be expected. As a final hot tip: pickup trucks and similar utility vehicles tend to hold on to their value far more than luxury cars or other feature-laden models.

When shopping for a new car, head to NJ State Auto Auction. You'll find hundreds of Carfax-certified cars on the lot, and an in-house finance team to help you afford the used car, truck or van of your choice.