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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: highwayskies on March 07, 2014, 05:52:55 AM

Title: To calculate cost per mile on a vehicle?
Post by: highwayskies 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!
Title: Re: To calculate cost per mile on a vehicle?
Post by: Greg on March 07, 2014, 08:41:23 AM
Some help here:

Title: Re: To calculate cost per mile on a vehicle?
Post by: dcheesi on March 07, 2014, 09:36:42 AM

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.
Title: Re: To calculate cost per mile on a vehicle?
Post by: highwayskies 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!
Title: Re: To calculate cost per mile on a vehicle?
Post by: 4alpacas on March 07, 2014, 03:28:28 PM
http://mustachecalc.com/
Title: Re: To calculate cost per mile on a vehicle?
Post by: highwayskies 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.

(http://m3.i.pbase.com/o6/34/564334/1/115888523.vxu01GMk.20090807alpaca09comp.jpg)
Title: Re: To calculate cost per mile on a vehicle?
Post by: Spork on March 07, 2014, 05:53:01 PM
my somewhat dated (2009) rant (http://sporkintheeye.blogspot.com/2009/04/aaa-figures-out-cost-of-auto-per-year.html).   It doesn't really address the question.  It just pokes fun.
Title: Re: To calculate cost per mile on a vehicle?
Post by: 4alpacas 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.
Title: Re: To calculate cost per mile on a vehicle?
Post by: dcheesi 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.