Just a few years ago, a driverless car may have seemed like nothing more than a sci-fi movie trope. That’s all changing: experts believe that by 2020, there could be as many as 10 million autonomous vehicles on the road.

Whether or not that prediction comes true, it’s clear these vehicles will impact anyone who is a driver sooner rather than later. Here are just a few ways they might affect your bank account.

Reduced insurance costs

According to one report, widespread availability of autonomous cars could reduce the rate of annual traffic accident fatalities by as much as 90%. Specialists generally agree that even if this particular estimate is overly-optimistic, driverless vehicles will significantly reduce the frequency of traffic accidents and resulting car accident injuries.

This means insurance costs are also likely to go down. The lower the chances are of you  getting into an accident, the less expensive it is to insure you.

Fewer traffic citations

Although everyone should be responsible behind the wheel, many drivers operate their vehicles without prioritizing safety. Getting caught doing so is expensive. Whether it’s a ticket for speeding or a drunk driving conviction, the penalty for irresponsible driving is costly.

Those punishments will virtually disappear with driverless cars. Although it’s likely that passengers will still be held to some legal standard when riding in these vehicles, the chance of getting caught driving dangerously will virtually disappear.

Less money spent on maintenance and repairs

When you’re unlikely to get into an accident, you’re unlikely to have to pay for one. That’s an obvious way autonomous cars will help drivers save money.

On top of that, many predict that driverless cars will run more efficiently than those driven by humans. This is largely thanks to reduced braking, more consistent speeds, and other technological benefits. This will save you money at the pump and reduce wear and tear on a vehicle.

Greater productivity

Americans spend about 75 billion hours a year driving; accurate comparative figures for South Africa are not available. According to Morgan Stanley, that means the rise of driverless cars could result in annual productivity gains worth more than $500 billion. Instead of spending your commute paying attention to the road, you could spend it getting more work done.

Fewer jobs

It is important to acknowledge the fact that driverless cars will yield some negative financial consequences, particularly when talking about the loss of jobs. As autonomous vehicles become more widespread, demand for taxi drivers, rideshare services, and commercial truck drivers will drop substantially.

Even if you don’t do this type of work, the increase in unemployment could have a negative impact on the overall economy. On the other hand, the financial benefits these vehicles offer may offset any major financial consequences. Some individuals may struggle financially, but overall, the net impact on the economy could be positive.

Reduced transportation costs for people with disabilities

The Americans With Disabilities Act of 1990 requires many cities to offer transit services to individuals who are unable to provide for their own transportation needs. Inefficiencies in these programs often result in wasteful spending.

Driverless cars will help cities save money by addressing these inefficiencies. Local governments won’t have to employ as many drivers, and autonomous vehicles will reduce inefficiencies caused by human error.

This is yet another instance in which some people may struggle for a period of time due to lost jobs, but the overall effect on the economy is expected to be positive.

Of course, no one can predict with absolute certainty how driverless vehicles will impact everyone financially. These are just some possibilities to consider. That said, it’s clear that these vehicles will be much more commonplace in the near future, and that they will alter financial circumstances on both an individual and overall level. Knowing how these impacts could be felt will help you prepare ahead of time.