Car: 1992 Honda Accord
Bought used in 2002 for $2k
Sold in 2009(?) for $2k
Given back to me in 2014 for $0 (the car needed an alternator and blower motor, brother was going to scrap metal it, I told him to just give it back to me)
Still have car, but just died a few weeks ago, not sure if it will be worth repair cost
Time I've owned approx 9 years total
(all estimates)
Bought= $2k
Sold = $2k
"Re-bought" = $0
Total car purchase net = $0
Timing belt 1x, = $90 (?)
Oil changes 2x/year, $25= $450
Distribution cap 1x and other work = $100
Alternator 1x, = $150 DIY
Blower motor 1x, =$100 DIY
Main relay 1x, = $50 DIY
Tires (snow tires + regular tires) 3x(?) = $700 (came with good tires, good snow tires, when replaced, replaced with used snow tires, new regular tires)
Son got in an accident, so needed a new "arm" on the back tire, new wheel, realignment, $150 total (now has a large dent in the fender)
Total maintenance/tires/repairs = $1790, but I'll round it up to $2000 because I'm sure something has been skipped.
Needs work now to get it to run, might be the fuel pump, might be more, so ???
I have no idea how many miles it had when I bought it, but it has almost 300k miles now. Fuel is around 30 mpg?
Cost (outside fuel and insurance, which has always been liability + uninsured motorist only) = $2000/9 years = $222/year, or less than $20/month.
ETA: I'm going to guess at least half those miles are mine, since I used the car as my commuter for years. $2000 for 150k miles = 1.3 cents/mile (plus gas and insurance)
I'm in the "buy it used and drive it until it dies" camp. Even better if you can sell it part way in for the same price you bought it, then get it back when someone else thinks it's not worth repairing!
I really, really don't want to give up the car, but if the new repair costs end up too high, I'll have to. It would have been worth it before it was in a wreck, but not so much now (it's not just cosmetic... it's safe to drive, but doesn't "feel" like it used to, so I only drive it in town now)