Author Topic: What is Your Monthly Cost for Your Vehicle?  (Read 431 times)

penguintroopers

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What is Your Monthly Cost for Your Vehicle?
« on: May 26, 2019, 07:13:45 AM »
Inspired by K-ice and zolotiyeruki over in the "Why Americans are Suddenly Paying $550/mo for cars" (Antimustachian wall of shame and comedy), what's everyone's cost-to-own per month?

Formula:

(Purchase price + taxes, registration, maintenance - expected resell value)/months driven

For us: ($6600 + 550 - 6500)/8 = $75/mo for our fancy-pants prius!

Can't wait for that number to decrease a little as the number of months increases, and relatively low maintenance costs. Majority of that $550 was the taxes at the title company when purchasing.

Bikes can be included, for fun. :)

APowers

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Re: What is Your Monthly Cost for Your Vehicle?
« Reply #1 on: May 26, 2019, 07:44:47 AM »
I'm guesstimating a lot of the numbers in my head, since I don't feel like doing all the research through my records....

1996 Honda Civic. Owned for 5.5 years now

Purchase price $2,500 - expected value $1,800 = $700
Registration: ~$65/year
Maintenance: $150
Repairs: ~$800

Total: ~$2,000/5.5 = ~$30/month

RWD

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Re: What is Your Monthly Cost for Your Vehicle?
« Reply #2 on: May 26, 2019, 08:15:21 AM »
2013 Subaru BRZ, purchased new: $373/month over about six years
2014 Porsche Cayman S, purchased used last year: $1,173/month over the first year

I posted a more detailed breakdown in my journal.

Lichen

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Re: What is Your Monthly Cost for Your Vehicle?
« Reply #3 on: May 26, 2019, 08:28:55 AM »
I drive a 2010 Prius. I paid $8k for it six years ago. Looking at the cost of public transport in my area, I will break even on the cost in two years. Considering I have used the car for many trips that would have cost much more than the tank or two of gas I spent if I had traveled via other means, I've probably actually broken even by now. Not to mention possible resale value.

Licensing/registration: $70/yr
Gas: $600/yr (average assuming 2 tanks a month)
Insurance: $486/yr
Maintenance: $150/yr (Assumed average. At this point I've done little more than an annual oil change and replacing wipers, which comes nowhere near this amount. But I will need things like tires and brakes eventually.)

Total with gas: ~$109/mo
Without gas: ~$59/mo

Opportunities owning a car has afforded me: Priceless. ;)