Author Topic: To calculate cost per mile on a vehicle?  (Read 4311 times)

highwayskies

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To calculate cost per mile on a vehicle?
« on: March 07, 2014, 05:52:55 AM »
I have exact records on fuel purchases and mileage, so have my actual gas cost per mile, but it doesn't include depreciation, etc.  How should I be calculating my cost per mile?  The AAA rate seems high.

Thanks for any help here!

Greg

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dcheesi

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Re: To calculate cost per mile on a vehicle?
« Reply #2 on: March 07, 2014, 09:36:42 AM »
MMM's gave his own version of the calculations in this article:

http://www.mrmoneymustache.com/2011/10/06/the-true-cost-of-commuting/

Personally I think that still comes out a little high, but that's just my opinion. It's often difficult to separate age and miles when talking about the lifespan of a vehicle, so the numbers you come up with depend a lot on how you handle that.

highwayskies

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Re: To calculate cost per mile on a vehicle?
« Reply #3 on: March 07, 2014, 03:24:19 PM »
Okay, after re-reading, I took my actual cost per mile in gas ($.21), added MMM's oil, tire, and miscellaneous (about a penny per mile each) to give me $.24/mile. 

Have I correctly followed MMM's approach to depreciation?  ... I bought an 06 Scion xB with 83,500 for $8400 a couple weeks ago.  Hoping it will last 100k more.  So, 8400/100,000=.084 means my depreciation is 8.4 cents per mile?

Any other costs to figure into a per-mile cost?  Insurance is elsewhere on my sheet at its actual cost.

Thanks for the help!

4alpacas

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Re: To calculate cost per mile on a vehicle?
« Reply #4 on: March 07, 2014, 03:28:28 PM »

highwayskies

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Re: To calculate cost per mile on a vehicle?
« Reply #5 on: March 07, 2014, 04:32:18 PM »
Why is this the first I've seen this!  Awesome.  Thanks 4alpacas.  Have a smiling, bloodthirsty alpaca.


Spork

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Re: To calculate cost per mile on a vehicle?
« Reply #6 on: March 07, 2014, 05:53:01 PM »
my somewhat dated (2009) rant.   It doesn't really address the question.  It just pokes fun.

4alpacas

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Re: To calculate cost per mile on a vehicle?
« Reply #7 on: March 07, 2014, 07:09:05 PM »
I forget the user that made it, but I love the mustache calculator.  I frequently plug in savings estimates to predict my FI date.

dcheesi

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Re: To calculate cost per mile on a vehicle?
« Reply #8 on: March 10, 2014, 11:26:37 AM »
As I alluded to earlier, some things like oil changes are more complicated if you're a mustachian driver. The recommendation for my car is 5k miles *or* six months, whichever comes first. If I drive less than 10k miles per year, then the oil cost doesn't really relate to miles driven;  it's just part of the cost of having the car in the first place.