This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Hefty Costs of a DUI

Driving drunk is a bad decision for obvious reasons. Get behind the wheel after too many holiday cocktails and you run the risk of ending up in the back of a police cruiser -- or, worse, the back of an ambulance. But alongside the danger of arrest or causing harm to yourself and others, there's another reason to avoid driving under the influence: DUIs cost big bucks.

"A DUI is just extremely expensive," says Jason Mayberry, an attorney in Tampa, Fla., who specializes in DUI cases at his firm, Mayberry/Rich.

A DUI can cost a driver thousands of dollars for a relatively straightforward offense -- or considerably more if the DUI also involves an accident that caused injuries or deaths. And it can seriously harm your reputation -- consider the case of Douglas Parker, the CEO of U.S. Airways (LCC) who was nabbed for DUI just a few hours after the company's 2007 takeover bid for Delta Air Lines (DAL) was rejected.

From towing and bail to lawyers' fees and fines, DUI is an expensive proposition. Here's a rundown on the financial impact of a DUI conviction.

Towing and impound. Failing a field sobriety test is a one-way ticket to the police station. You get to ride in the back of the cruiser while your car gets hitched to a tow truck and dragged to an impound lot. Before you pick up your car, make sure to hit the ATM. "I've had clients pay $300 or $400 after their cars were towed and kept overnight," says Mayberry.

Be aware that DUI laws in some states require people to forfeit their vehicles, especially in the case of a repeat offender. A second-time DUI offender in Tennessee, for example, may have his or her car seized by the state.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $134.68 3.40%
FB $81.81 0.34%
GOOG $555.39 -1.70%
TSLA $231.69 6.10%
YHOO $44.37 -0.34%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs