New Delhi, Oct. 19 -- Buying a new car is a significant financial commitment, and the expenses don't end with the down payment or equated monthly instalments (EMIs). Fuel, insurance, servicing and other recurring costs add up quickly, and small financial mistakes can make ownership more expensive and strain your household budget.

Understanding the basics and planning ahead can help you avoid repayment delays or defaults that complicate car ownership. Here are five money mistakes new car owners should avoid.

Here are five money mistakes new car owners should avoid to ensure car ownership remains a pleasant experience.

Choosing a pricier variant or model than you can comfortably afford leaves little room for savings and household expense...