Author Topic: I added up the costs of my used car over the past 5 years  (Read 3613 times)

Archipelago

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I added up the costs of my used car over the past 5 years
« on: May 14, 2019, 09:02:54 PM »
I've kept pretty much every service record since I've owned my vehicle. Thought it might be interesting little data set to share. Car was purchased used for cash in May 2014 for $6,650. After sales tax and registration fees, came out to $7,175. Maintenance is classified as anything that is replaced per normal wear and tear. Service was any mechanical or any "unusual" repair that was made.

The overall cost of ownership, including the initial purchase and came out to around $446 per month.
« Last Edit: May 14, 2019, 09:09:43 PM by Archipelago »

2sk22

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Re: I added up the costs of my used car over the past 5 years
« Reply #1 on: May 15, 2019, 06:25:34 AM »
This is great - I love seeing these kind of detailed breakdown of costs!

Related - I myself use fuelly.com to keep track of my fuel consumption at a very detailed level. I have recorded each and every fill-up since I bought my car eight years ago. And if you feel competitive, you can compare your numbers against those of similar cars :-)
« Last Edit: May 15, 2019, 06:27:35 AM by 2sk22 »

Archipelago

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Re: I added up the costs of my used car over the past 5 years
« Reply #2 on: May 15, 2019, 06:39:14 AM »
This is great - I love seeing these kind of detailed breakdown of costs!

Related - I myself use fuelly.com to keep track of my fuel consumption at a very detailed level. I have recorded each and every fill-up since I bought my car eight years ago. And if you feel competitive, you can compare your numbers against those of similar cars :-)

Sweet, I'll check it out. The next thing I want to do is compare the fuel consumption against a newer car (probably around 34 MPG combined).

What kind of car do you own?

2sk22

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Re: I added up the costs of my used car over the past 5 years
« Reply #3 on: May 15, 2019, 06:51:38 AM »
I have a Prius v 3 - bought new in 2011. I have to say I'm very happy with the car. We downsized to this from a minivan. This car is a wagon so its very useful for moving stuff. For example, I have to help my daughter move out if her apartment and this car is just amazing in how much it can hold. I plan to keep this car as long as I possibly can.

RWD

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Re: I added up the costs of my used car over the past 5 years
« Reply #4 on: May 15, 2019, 06:52:56 AM »
Wow, that is quite cheap. Our Subaru BRZ (purchased new) cost us $23,250 over five years.

Our Porsche Cayman S (purchased used) cost us $12,825 in just the first year of ownership!

Edit: misread the numbers in the first post.
« Last Edit: May 15, 2019, 01:17:54 PM by RWD »

Bloop Bloop

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Re: I added up the costs of my used car over the past 5 years
« Reply #5 on: May 15, 2019, 07:02:43 AM »
Wow, that is quite cheap. Our Subaru BRZ (purchased new) cost us $23,250 over five years.

Our Porsche Cayman S (purchased used) cost us $12,825 in just the first year of ownership!

I did the sums myself for my Boxster S (very similar car, obviously) and it cost me $14,500 per year. Well worth it, I felt - although my car did make up about 30% of my total spending last year!

DadJokes

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Re: I added up the costs of my used car over the past 5 years
« Reply #6 on: May 15, 2019, 08:45:11 AM »
It will go down the longer you own the car, but at $446/month, I can see why one can get rich by biking everywhere.

Thanks for posting this. It does look like your starting mileage and current mileage are backwards.

wageslave23

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Re: I added up the costs of my used car over the past 5 years
« Reply #7 on: May 15, 2019, 09:16:24 AM »
This is a good example of why its not always best to buy an older used car.  You had about $1000 per year in maintenance/repairs and probably about $1000/yr in depreciation.  I bought a three year old sonata for $11,000.  And expect about $1000/yr depreciation and only $500 or less in maintenance/repairs per year because its newer.  Also the headache of having to go to the mechanic to get stuff fixed every year should be factored into the equation when deciding how old of a used car to buy.  All in all though, not a bad 5 yr cost.

SaucyAussie

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Re: I added up the costs of my used car over the past 5 years
« Reply #8 on: May 15, 2019, 09:30:24 AM »
This is great.  I think it shows that even though you had quite a bit of bad luck, it still works cheaper than buying a new car.

I bought my Camry for $5K with 170,000 miles five years ago.  Now at 230,000 - I haven't had to spend a penny on it.  Knock on wood.

I might try to run the numbers through your spreadsheet.

JLee

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Re: I added up the costs of my used car over the past 5 years
« Reply #9 on: May 15, 2019, 09:40:57 AM »
This is great.  I think it shows that even though you had quite a bit of bad luck, it still works cheaper than buying a new car.

I bought my Camry for $5K with 170,000 miles five years ago.  Now at 230,000 - I haven't had to spend a penny on it.  Knock on wood.

I might try to run the numbers through your spreadsheet.

Oil changes? Tires?

MilesTeg

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Re: I added up the costs of my used car over the past 5 years
« Reply #10 on: May 15, 2019, 10:01:34 AM »
I've kept pretty much every service record since I've owned my vehicle. Thought it might be interesting little data set to share. Car was purchased used for cash in May 2014 for $6,650. After sales tax and registration fees, came out to $7,175. Maintenance is classified as anything that is replaced per normal wear and tear. Service was any mechanical or any "unusual" repair that was made.

The overall cost of ownership, including the initial purchase and came out to around $446 per month.

What make/model is this car. This the list of service you show, I would have assumed something circa early 00's at the newest, but then I saw "HID headlight replacement" which pegs it as at oldest and early 10's. If this is an early 10s model, you got quite the lemon.


Oh, a 2007 mazda. Yeah, that explains it.
« Last Edit: May 15, 2019, 10:03:23 AM by MilesTeg »

JLee

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Re: I added up the costs of my used car over the past 5 years
« Reply #11 on: May 15, 2019, 10:02:36 AM »
I've kept pretty much every service record since I've owned my vehicle. Thought it might be interesting little data set to share. Car was purchased used for cash in May 2014 for $6,650. After sales tax and registration fees, came out to $7,175. Maintenance is classified as anything that is replaced per normal wear and tear. Service was any mechanical or any "unusual" repair that was made.

The overall cost of ownership, including the initial purchase and came out to around $446 per month.

What make/model is this car. This the list of service you show, I would have assumed something circa early 00's at the newest, but then I saw "HID headlight replacement" which pegs it as at oldest and early 10's. If this is an early 10s model, you got quite the lemon.

Eh?  My 2004 Cadillac CTS-V and my 2006 Mazdaspeed6 both had HIDs.  Prius's got them in 2005.

MilesTeg

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Re: I added up the costs of my used car over the past 5 years
« Reply #12 on: May 15, 2019, 10:05:18 AM »
I've kept pretty much every service record since I've owned my vehicle. Thought it might be interesting little data set to share. Car was purchased used for cash in May 2014 for $6,650. After sales tax and registration fees, came out to $7,175. Maintenance is classified as anything that is replaced per normal wear and tear. Service was any mechanical or any "unusual" repair that was made.

The overall cost of ownership, including the initial purchase and came out to around $446 per month.

What make/model is this car. This the list of service you show, I would have assumed something circa early 00's at the newest, but then I saw "HID headlight replacement" which pegs it as at oldest and early 10's. If this is an early 10s model, you got quite the lemon.

Eh?  My 2004 Cadillac CTS-V and my 2006 Mazdaspeed6 both had HIDs.  Prius's got them in 2005.

Sorry, I read "HID" and my mind was thinking "LED".

Archipelago

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Re: I added up the costs of my used car over the past 5 years
« Reply #13 on: May 15, 2019, 11:21:35 AM »
I have a Prius v 3 - bought new in 2011. I have to say I'm very happy with the car. We downsized to this from a minivan. This car is a wagon so its very useful for moving stuff. For example, I have to help my daughter move out if her apartment and this car is just amazing in how much it can hold. I plan to keep this car as long as I possibly can.
Ah, gotcha. I was correct in my assumption you have a hybrid/electric vehicle. Your total gas expenses looked super cheap.

It will go down the longer you own the car, but at $446/month, I can see why one can get rich by biking everywhere.

Thanks for posting this. It does look like your starting mileage and current mileage are backwards.
You're right - I'll edit to make fixes later.

This is great.  I think it shows that even though you had quite a bit of bad luck, it still works cheaper than buying a new car.

I bought my Camry for $5K with 170,000 miles five years ago.  Now at 230,000 - I haven't had to spend a penny on it.  Knock on wood.

I might try to run the numbers through your spreadsheet.
I would say the only bad luck really was when the transmission needed work. Luckily, I found a good transmission guy that determined only the valve body needed a replacement. Another shop easily could've said the whole tranny needs to be replaced, so I got pretty lucky there!

Unfortunately I don't have a plug and chug spreadsheet. This is just a quick list I put together and used a pivot table to summarize.

I've kept pretty much every service record since I've owned my vehicle. Thought it might be interesting little data set to share. Car was purchased used for cash in May 2014 for $6,650. After sales tax and registration fees, came out to $7,175. Maintenance is classified as anything that is replaced per normal wear and tear. Service was any mechanical or any "unusual" repair that was made.

The overall cost of ownership, including the initial purchase and came out to around $446 per month.

What make/model is this car. This the list of service you show, I would have assumed something circa early 00's at the newest, but then I saw "HID headlight replacement" which pegs it as at oldest and early 10's. If this is an early 10s model, you got quite the lemon.

Eh?  My 2004 Cadillac CTS-V and my 2006 Mazdaspeed6 both had HIDs.  Prius's got them in 2005.
Yeah, the lower headlights are HID and require taking the front bumper apart. Quite the PIA. The high beams you can just reach in and replace.

Archipelago

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Re: I added up the costs of my used car over the past 5 years
« Reply #14 on: May 15, 2019, 11:22:58 AM »
This is a good example of why its not always best to buy an older used car.  You had about $1000 per year in maintenance/repairs and probably about $1000/yr in depreciation.  I bought a three year old sonata for $11,000.  And expect about $1000/yr depreciation and only $500 or less in maintenance/repairs per year because its newer.  Also the headache of having to go to the mechanic to get stuff fixed every year should be factored into the equation when deciding how old of a used car to buy.  All in all though, not a bad 5 yr cost.
This is a good point. I remember last year I spent probably 2 full working days taking the car around to get parts, to and front the mechanic and the tire shop. Man, that took quite a bit of time, and my time is definitely not worth $0!

bacchi

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Re: I added up the costs of my used car over the past 5 years
« Reply #15 on: May 15, 2019, 11:51:51 AM »
Last time I checked, the cost for my German sports car was $5000/year over 14 years. The cost is lower now because I don't drive it much and there's still some depreciation. Mileage is around 77k. I do a lot of the maintenance and repairs myself.

Bought more-or-less new.

Cassie

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Re: I added up the costs of my used car over the past 5 years
« Reply #16 on: May 15, 2019, 12:12:28 PM »
We bought a 2008 Toyota Corolla 4 years ago for 10k. Recently bought tires. We change the oil and thatís all thatís been required. It came with 27k miles and now has 52k.  In the long run this car will be really cheap.

use2betrix

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Re: I added up the costs of my used car over the past 5 years
« Reply #17 on: May 15, 2019, 12:39:59 PM »
We bought our 1999 Camry 5.5 years ago for about $5500, with 88k miles.

In those 5.5 years, itís probably cost us about $1000/yr in repairs and routine maintenance above and beyond the averages (oil changes, tires, batteries)

This included things like, front and rear struts, timing belt, headlights, etc... Mostly also all wear and tear items..

We just renewed the inspection for the next year and itís getting an oil change and tires rotated today.. Itís at about 150k miles now.. I can easily afford and would enjoy a new car, but I keep telling myself ďonce it really craps out,Ē but just hasnít had ďthatĒ bad of a single repair/maintenance item needed yet..

traveler

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Re: I added up the costs of my used car over the past 5 years
« Reply #18 on: May 15, 2019, 12:50:49 PM »
Interesting! Iím going to do the same for my Kia Soul.

One suggestion would be to add both an estimate of your time and the opportunity cost.

ketchup

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Re: I added up the costs of my used car over the past 5 years
« Reply #19 on: May 15, 2019, 12:53:04 PM »
I don't have current numbers since I'm behind on my records (shame on me), but I have meticulous complete records from 2012-2017.

We (household of two) drove 139,287 miles from 2012-2017, an average of 23,215 miles/year.

Our costs were:
Code: [Select]
Year    Miles   $
2012 13312 $1,996.80
2013 16407 $3,687.60
2014 28168 $6,201.83
2015 35314 $7,479.12
2016 23284 $5,333.94
2017 22802 $5,334.83

Average total cost of $417/mo and $0.22/mile.  Two car household from 2014-2016, just one car in the other years.

The breakdown:
23% Maintenance/repairs
49% Fuel
11% Insurance
11% Depreciation
6% Registration/taxes

We drive too much, but our costs aren't all that bad.

Mike in NH

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Re: I added up the costs of my used car over the past 5 years
« Reply #20 on: May 15, 2019, 02:25:25 PM »
I've kept pretty much every service record since I've owned my vehicle. Thought it might be interesting little data set to share. Car was purchased used for cash in May 2014 for $6,650. After sales tax and registration fees, came out to $7,175. Maintenance is classified as anything that is replaced per normal wear and tear. Service was any mechanical or any "unusual" repair that was made.

The overall cost of ownership, including the initial purchase and came out to around $446 per month.

What make/model is this car. This the list of service you show, I would have assumed something circa early 00's at the newest, but then I saw "HID headlight replacement" which pegs it as at oldest and early 10's. If this is an early 10s model, you got quite the lemon.

Eh?  My 2004 Cadillac CTS-V and my 2006 Mazdaspeed6 both had HIDs.  Prius's got them in 2005.

JLee the Speed6 was my favorite, after about 10 years and 200K miles mine was starting to rust out sadly (thanks New England). I would have bought that car again if I could have.

AlotToLearn

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Re: I added up the costs of my used car over the past 5 years
« Reply #21 on: May 15, 2019, 04:00:39 PM »
Great spreadsheet and an idea a friend of mine and I were just talking about this weekend. I am scared to see what the numbers look like on the money pit of a car I foolishly bought last year that I am unloading soon.

solon

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Re: I added up the costs of my used car over the past 5 years
« Reply #22 on: May 15, 2019, 04:30:25 PM »
I wonder how this would compare to a new car with similar payment?

I get into discussions from time to time about the cost of used vs new. I'm on the side of used cars, of course, but my friend is only ever thinking of new car payment (i.e. not considering insurance/gas/maintenance/registration), and telling me I have to add in the cost of maintenance on my used car. Well, yeah, I have to add up all the costs - and so do you. I've never had any luck convincing someone that used is cheaper.

hadabeardonce

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Re: I added up the costs of my used car over the past 5 years
« Reply #23 on: May 15, 2019, 05:42:35 PM »
I use Mint to maintain data for the 3 or 4 cars we own.

Auto (Column B) = Total of Insurance, Gas, Service Parts, Misc
Misc (Column J) = Car cost, registration... I need to investigate the ~$50 charges from 2015
Ö and then I use conditional formatting on a 12 mo rolling average to the right of each column to see the direction things are going. (Green is good)

Still work to be done.

Archipelago

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Re: I added up the costs of my used car over the past 5 years
« Reply #24 on: May 15, 2019, 09:19:43 PM »
Interesting! Iím going to do the same for my Kia Soul.

One suggestion would be to add both an estimate of your time and the opportunity cost.

Will be added, stay tuned. Also, will be adding a few other hypothetical scenarios.

Cranky

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Re: I added up the costs of my used car over the past 5 years
« Reply #25 on: May 16, 2019, 04:04:43 AM »
This makes me feel better about taking Lyft twice a week!

habaneroNorway

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Re: I added up the costs of my used car over the past 5 years
« Reply #26 on: May 16, 2019, 04:13:28 AM »
I wonder how this would compare to a new car with similar payment?

I get into discussions from time to time about the cost of used vs new. I'm on the side of used cars, of course, but my friend is only ever thinking of new car payment (i.e. not considering insurance/gas/maintenance/registration), and telling me I have to add in the cost of maintenance on my used car. Well, yeah, I have to add up all the costs - and so do you. I've never had any luck convincing someone that used is cheaper.

The biggest difference is opportunity cost (assuming positive returns on investing money saved) which most people don't factor in.

Junco

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Re: I added up the costs of my used car over the past 5 years
« Reply #27 on: May 16, 2019, 08:53:34 AM »
I think people forget that new cars need to be regularly maintained too and that costs $$$. Older cars MAY require the rare repairs as components rust/fail, but all cars should be maintained on their factory maintenance schedule  (fluid changes, tire rotations, spark plugs, filters, etc) to maximize the lifetime of the vehicle. Actually a case could be made that an older car could need less maintenance than a newer car because an old car has already lived a long life, so maybe it's not worth changing the transmission fluid on a car with 200k miles, but you should definitely do it on your new car with 30k miles.

zoochadookdook

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Re: I added up the costs of my used car over the past 5 years
« Reply #28 on: May 16, 2019, 09:55:31 AM »
Holy crap I thought my 04 civic I've had for 6 years had some pricey maintenance lol. Your values are UP there

AMandM

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Re: I added up the costs of my used car over the past 5 years
« Reply #29 on: May 16, 2019, 01:41:45 PM »
Interesting. My FIL has a theory that every car costs $500 a month--older ones due to repairs, newer ones due to payments. Now I want to go look up my costs!

andy85

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Re: I added up the costs of my used car over the past 5 years
« Reply #30 on: May 16, 2019, 01:51:35 PM »
I have a paid off 2010 Ford Fusion i bought for $15k with like 75k miles on it. I think I'm closing in on 115k-120k miles. I have been keeping detailed records since 2016. The below costs include all gas, maintenance, car insurance, and taxes. There is a new battery, new set of tires, regular oil changes, and other regularly scheduled maintenance in there.

Code: [Select]
Year    Annual  Monthly
2016 $1,860 $155
2017 $2,212 $184
2018 $2,144 $179
Total $6,216 $173


SaucyAussie

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Re: I added up the costs of my used car over the past 5 years
« Reply #31 on: May 16, 2019, 01:53:53 PM »
This is great.  I think it shows that even though you had quite a bit of bad luck, it still works cheaper than buying a new car.

I bought my Camry for $5K with 170,000 miles five years ago.  Now at 230,000 - I haven't had to spend a penny on it.  Knock on wood.

I might try to run the numbers through your spreadsheet.

I ran my numbers, no mechanical issues, 5 years:
 Car 5000
 Oil Changes 1050
 Tires 400
 Fuel 6000
 Insurance 4000
 Tax / Rego 600
 Total 17050
 Cost per month: $284.16

Tass

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Re: I added up the costs of my used car over the past 5 years
« Reply #32 on: May 16, 2019, 04:02:47 PM »
I bought a 2001 Toyota Solara with 152k miles in December 2015. It cost $2000 plus $800 in immediate maintenance (asking price was $3000). In 42 months, I've put another 20k miles on it, replaced the battery, replaced the catalytic converter (ouch!), at least one other maintenance thing I can't remember, and done regular oil changes + a smog check.

In the last eight months, I have been splitting insurance costs with my partner and he has taken over paying most of the gas (because he's doing most of the driving), so the overall average is higher than my recent monthly average would be.

Totals:
$2804 purchase cost (including up front maintenance like new tires)
$1741 maintenance since then
$2199 insurance
$1935 gas
$  372 registration fees
$9021 total, for an average of $214/month

That seems to be on the low end for this thread, but it's more than I spend on everything except for rent and charity, so I'm slightly horrified. I guess I can hope to get $1000 back out of it someday? I'm definitely glad we are a one-car couple.
« Last Edit: May 16, 2019, 04:05:06 PM by Tass »

Archipelago

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Re: I added up the costs of my used car over the past 5 years
« Reply #33 on: May 16, 2019, 08:28:48 PM »
@Tass and @SaucyAussie did very well. It seems be Toyota and Honda are the more reliable car manufacturers, yielding low costs of ownership. I'm not surprised. I think one of those will be next.

Tass

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Re: I added up the costs of my used car over the past 5 years
« Reply #34 on: May 16, 2019, 08:58:38 PM »
To be fair, mine is *my* cost of ownership, which is less than the total cost of ownership of the car. My partner has probably spent $650 on the car in the last 8 months? That would bring the monthly average up to $230. Which is still pretty good I guess. :)

wageslave23

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Re: I added up the costs of my used car over the past 5 years
« Reply #35 on: May 17, 2019, 06:05:01 AM »
To be fair, mine is *my* cost of ownership, which is less than the total cost of ownership of the car. My partner has probably spent $650 on the car in the last 8 months? That would bring the monthly average up to $230. Which is still pretty good I guess. :)

Also you are only averaging about 6K mileage per year and the other posters seem to be around double that. 

zoochadookdook

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Re: I added up the costs of my used car over the past 5 years
« Reply #36 on: May 17, 2019, 06:28:18 AM »
To be fair, mine is *my* cost of ownership, which is less than the total cost of ownership of the car. My partner has probably spent $650 on the car in the last 8 months? That would bring the monthly average up to $230. Which is still pretty good I guess. :)

Also you are only averaging about 6K mileage per year and the other posters seem to be around double that.
[/q]

this-and it's a ford so depreciation is brutal. I drove my 2004 civic the last 5 years 90k miles/will put together a sheet right now

zoochadookdook

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Re: I added up the costs of my used car over the past 5 years
« Reply #37 on: May 17, 2019, 06:45:33 AM »

Insurance- 800/year (michigan has the worst rates, this is plpd only and the bottom of the barrel price wise)

Maint:
2016 engine cradle (one mount freak rusted and broke) $250
2017 rear brakes/rotors $250
2017 exhaust manifold and weld $150
2018 new 90k tires 400 (could have gone cheaper)
2019 now $1000 timing belt, motor mount, camshaft sensor and bolt, water pump/new coolant and mt fluid (500 labor)
2019 battery $85

Currently, 160k miles-timing belt/water pump issue was double what it should have been due to the camshaft failing and a hydraulic engine mount being bad

80k miles/5=16000/year
 total costs
-2500 in depreciation
-maint-2135+ oil changes at $15 diy every 7.5k $160
-gas i've kept all logs but for the sake of simplicity let's say I average 38mpg (5 speed- i average low mid 40s summer mid low 30s winter) @2.80/gas
=around 5894 in gas
-Insurance 800x5=4500

total 15,189/5=3,037.8/yr =253.15/month. This is driving 16k a year. I don't know if these comparisons are really smart to make as insurance is going to vary like crazy. A 2018 chevy cruze full coverage for me would be minimum $100 more a month/1200 more a year (tacking on $6k over 5 years)

The major factors are depreciation/maintnance/mpg has a play if you drive a ton. Toyotas and hondas are cheaper for parts/don't take near the hit OEM cars do depreciation wise.

Note- I expect longer returns as I'm keeping it until it dies. The timing belt/pump service is 100k so in theory should be fine until 260k.
I'm also getting more into DIY and will be doing my front brakes and rotors, shocks, control arms, etc. This should save me heavily on those when they come due.

Slow2FIRE

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Re: I added up the costs of my used car over the past 5 years
« Reply #38 on: May 17, 2019, 05:07:52 PM »
Purchased my 2012 Ford Focus in 2012. 
80,000 miles on it.
So far, including the brand new purchase price, taxes, insurance (initially full coverage while there were car payments), interest on payments (2.0% loan), maintenance (first several years the maintenance was covered by Ford as part of a service package), and one repair (faulty evap emissions valve), one set of new tires, one battery replacement, and gas @ roughly 40mpg typically and

My spending per month comes out to approx $430 per month cost to own and operate ASSUMING the car has zero value today 
(with an expected current private sale value of $6500 from KBB the per month cost to own drops to just over $350 per month).

Archipelago

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Re: I added up the costs of my used car over the past 5 years
« Reply #39 on: May 17, 2019, 06:57:49 PM »

Insurance- 800/year (michigan has the worst rates, this is plpd only and the bottom of the barrel price wise)

Maint:
2016 engine cradle (one mount freak rusted and broke) $250
2017 rear brakes/rotors $250
2017 exhaust manifold and weld $150
2018 new 90k tires 400 (could have gone cheaper)
2019 now $1000 timing belt, motor mount, camshaft sensor and bolt, water pump/new coolant and mt fluid (500 labor)
2019 battery $85

Currently, 160k miles-timing belt/water pump issue was double what it should have been due to the camshaft failing and a hydraulic engine mount being bad

80k miles/5=16000/year
 total costs
-2500 in depreciation
-maint-2135+ oil changes at $15 diy every 7.5k $160
-gas i've kept all logs but for the sake of simplicity let's say I average 38mpg (5 speed- i average low mid 40s summer mid low 30s winter) @2.80/gas
=around 5894 in gas
-Insurance 800x5=4500

total 15,189/5=3,037.8/yr =253.15/month. This is driving 16k a year. I don't know if these comparisons are really smart to make as insurance is going to vary like crazy. A 2018 chevy cruze full coverage for me would be minimum $100 more a month/1200 more a year (tacking on $6k over 5 years)

The major factors are depreciation/maintnance/mpg has a play if you drive a ton. Toyotas and hondas are cheaper for parts/don't take near the hit OEM cars do depreciation wise.

Note- I expect longer returns as I'm keeping it until it dies. The timing belt/pump service is 100k so in theory should be fine until 260k.
I'm also getting more into DIY and will be doing my front brakes and rotors, shocks, control arms, etc. This should save me heavily on those when they come due.

What type of vehicle is this?

zoochadookdook

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Re: I added up the costs of my used car over the past 5 years
« Reply #40 on: May 18, 2019, 12:35:46 AM »

Insurance- 800/year (michigan has the worst rates, this is plpd only and the bottom of the barrel price wise)

Maint:
2016 engine cradle (one mount freak rusted and broke) $250
2017 rear brakes/rotors $250
2017 exhaust manifold and weld $150
2018 new 90k tires 400 (could have gone cheaper)
2019 now $1000 timing belt, motor mount, camshaft sensor and bolt, water pump/new coolant and mt fluid (500 labor)
2019 battery $85

Currently, 160k miles-timing belt/water pump issue was double what it should have been due to the camshaft failing and a hydraulic engine mount being bad

80k miles/5=16000/year
 total costs
-2500 in depreciation
-maint-2135+ oil changes at $15 diy every 7.5k $160
-gas i've kept all logs but for the sake of simplicity let's say I average 38mpg (5 speed- i average low mid 40s summer mid low 30s winter) @2.80/gas
=around 5894 in gas
-Insurance 800x5=4500

total 15,189/5=3,037.8/yr =253.15/month. This is driving 16k a year. I don't know if these comparisons are really smart to make as insurance is going to vary like crazy. A 2018 chevy cruze full coverage for me would be minimum $100 more a month/1200 more a year (tacking on $6k over 5 years)

The major factors are depreciation/maintnance/mpg has a play if you drive a ton. Toyotas and hondas are cheaper for parts/don't take near the hit OEM cars do depreciation wise.

Note- I expect longer returns as I'm keeping it until it dies. The timing belt/pump service is 100k so in theory should be fine until 260k.
I'm also getting more into DIY and will be doing my front brakes and rotors, shocks, control arms, etc. This should save me heavily on those when they come due.

What type of vehicle is this?

2004 Honda civic. 5 speed.

What amazes me is the lack of research people do when purchasing a good used vehicle. Scotty Kilmer on youtube is a good source for what's quality and what isn't.

The thing I keep seeing is my ford/gm/chrysler is good after x years and should be going forward....

As someone who lives in the big 3 state lemme tell ya-they're trash in value/reliability compared to the Japanese cars. They lose their value like crazy, are built to junk standards in comparison and have a model of replacing systems vs keeping them around (look at the tacoma, old powertrain-leader in reliability/value). Chryslers has gone downhill even more since the FCA acquisition, and they were down there anyways. Ford has all kinds of trans issues-junky resale. Gm has timing chain issues in the traverse, oil consumption in the equinox, blowing up engines in the new malibus, crap cruze reliability...... to put it in perspective my pops worked for gm for 25 years and as soon as he retired-bought a subaru.

JLee

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Re: I added up the costs of my used car over the past 5 years
« Reply #41 on: May 18, 2019, 07:03:17 AM »
Subaru has been plagued with oil consumption and head gasket troubles...odd choice if long-term trouble-free ownership was the goal.

mountain mustache

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Re: I added up the costs of my used car over the past 5 years
« Reply #42 on: May 18, 2019, 07:50:51 AM »
I bought a 2003 Honda Element in 2014 for $6700.00. It had 120k miles on it at the time. It is at 191k miles now ( I used to drive across the country to visit my now-ex-bf so racked up a lot of miles for a few years there.) I feel like for the 70k miles I've put on the car, I have gotten off pretty easy.

Oil Changes/air filters, etc- $900
New Tires- $650
Snow Tires- $500 (these will last for like....10 years, because I don't drive a ton in the winter)
Front pads/rotors- $250
Weird unexpected valve service that saved me buying a new engine last fall- $250
All new struts, control arms, and alignment, etc in January - $1600. Oof this was the big one, but at 191k miles it seemed perfectly reasonable to me...especially since I hope to drive this car another 50-70k miles. I drive a lot on jeep roads/dirt roads to camp/hike, so I know I worked the suspension a bit.

I've literally had no surprise services except for that valve service...everything has been routine, if not delayed by me being really young when I first owned the car and not maintaining things properly for the first few years. Now that I am more financially stable, and have the extra money I make sure to do everything on time or even ahead of time. I put off the suspension for a while because it was just a huge chunk of money, but I wish I had done it sooner, it made such a big difference!

Total maintenance- around $4200

Insurance- right now I am paying $450 a year...but it has been higher at around $700 a year when I was younger.
Total- Probably around $3500 for insurance.

I have no idea on fuel costs....It's so expensive here, and I don't drive daily to work or anything, literally only for road trips, so I count it more into a "travel budget" than anything else.


tralfamadorian

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Re: I added up the costs of my used car over the past 5 years
« Reply #43 on: May 18, 2019, 08:50:58 AM »
I'm seriously contemplating a move to a walkable area this fall where going car free is feasible. I'm debating on whether it would be a good idea to keep my car for the 8 hour drive to see family but these numbers put a different spin on it. There's lots of room for car rentals at ~$500/mo!

MilesTeg

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Re: I added up the costs of my used car over the past 5 years
« Reply #44 on: May 18, 2019, 08:43:05 PM »
I bought a 2003 Honda Element in 2014 for $6700.00. It had 120k miles on it at the time. It is at 191k miles now ( I used to drive across the country to visit my now-ex-bf so racked up a lot of miles for a few years there.) I feel like for the 70k miles I've put on the car, I have gotten off pretty easy.

Oil Changes/air filters, etc- $900
New Tires- $650
Snow Tires- $500 (these will last for like....10 years, because I don't drive a ton in the winter)
Front pads/rotors- $250
Weird unexpected valve service that saved me buying a new engine last fall- $250
All new struts, control arms, and alignment, etc in January - $1600. Oof this was the big one, but at 191k miles it seemed perfectly reasonable to me...especially since I hope to drive this car another 50-70k miles. I drive a lot on jeep roads/dirt roads to camp/hike, so I know I worked the suspension a bit.

I've literally had no surprise services except for that valve service...everything has been routine, if not delayed by me being really young when I first owned the car and not maintaining things properly for the first few years. Now that I am more financially stable, and have the extra money I make sure to do everything on time or even ahead of time. I put off the suspension for a while because it was just a huge chunk of money, but I wish I had done it sooner, it made such a big difference!

Total maintenance- around $4200

Insurance- right now I am paying $450 a year...but it has been higher at around $700 a year when I was younger.
Total- Probably around $3500 for insurance.

I have no idea on fuel costs....It's so expensive here, and I don't drive daily to work or anything, literally only for road trips, so I count it more into a "travel budget" than anything else.

Don't try to use a pair of winter tyres for 10 years. Even if they have plenty of tred, they suffer from degradation just due to age (more so if they aren't frequently used). Its a great way to get a blowout or other catastrophic failure while flying down the highway. 7 years is generally a good rule of thumb.

facepalm

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Re: I added up the costs of my used car over the past 5 years
« Reply #45 on: May 19, 2019, 01:49:45 PM »
This is great.  I think it shows that even though you had quite a bit of bad luck, it still works cheaper than buying a new car.

I bought my Camry for $5K with 170,000 miles five years ago.  Now at 230,000 - I haven't had to spend a penny on it.  Knock on wood.

I might try to run the numbers through your spreadsheet.

I paid 13K for my 2012 Camry. I change the oil twice a year, tires when needed. Gas up once or twide a month. I drive less than 7K miles a year.

My friends with the latest clown cars all make fun of it, but in return I make fun of their minuscule bank balances.*

* not really.

mjb

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Re: I added up the costs of my used car over the past 5 years
« Reply #46 on: May 19, 2019, 03:25:35 PM »
I'm seriously contemplating a move to a walkable area this fall where going car free is feasible. I'm debating on whether it would be a good idea to keep my car for the 8 hour drive to see family but these numbers put a different spin on it. There's lots of room for car rentals at ~$500/mo!

I gave up my car when I moved to Chicago 6 1/2 years ago. I just peeked at Personal Capital, and my "Transportation" category has averaged about $85/month since Jan 2016 (when I started keeping good records). Add in the cost of my bike (which was in 2007, but whatever) and it's $100/month.

That average includes: public transit, Uber/Lyft/taxis, ZipCar/car2go, bike share, personal bike gear + maintenance, the occasional tank of gas for my ex's car, and even a few month's worth of Amtrak tickets during a long-distance-relationship phase. (It doesn't include a couple-three car rentals for road-trips, but most trips I've taken are to places I have to fly to anyhow.)

I don't have good records for my previous car-centric life in Texas (where I rode my bike as much as I could, but still drove most days of the week), but I wouldn't doubt it was closer to the above $400-$500 average.

Assuming I've saved $300/month on transportation in 6 1/2 years, that's $23,400 in savings.

tralfamadorian

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Re: I added up the costs of my used car over the past 5 years
« Reply #47 on: May 19, 2019, 05:57:24 PM »
I'm seriously contemplating a move to a walkable area this fall where going car free is feasible. I'm debating on whether it would be a good idea to keep my car for the 8 hour drive to see family but these numbers put a different spin on it. There's lots of room for car rentals at ~$500/mo!

I gave up my car when I moved to Chicago 6 1/2 years ago. I just peeked at Personal Capital, and my "Transportation" category has averaged about $85/month since Jan 2016 (when I started keeping good records). Add in the cost of my bike (which was in 2007, but whatever) and it's $100/month.

That average includes: public transit, Uber/Lyft/taxis, ZipCar/car2go, bike share, personal bike gear + maintenance, the occasional tank of gas for my ex's car, and even a few month's worth of Amtrak tickets during a long-distance-relationship phase. (It doesn't include a couple-three car rentals for road-trips, but most trips I've taken are to places I have to fly to anyhow.)

I don't have good records for my previous car-centric life in Texas (where I rode my bike as much as I could, but still drove most days of the week), but I wouldn't doubt it was closer to the above $400-$500 average.

Assuming I've saved $300/month on transportation in 6 1/2 years, that's $23,400 in savings.

Thanks for the anecdata @mjb !

zoochadookdook

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Re: I added up the costs of my used car over the past 5 years
« Reply #48 on: May 20, 2019, 07:03:41 AM »
Subaru has been plagued with oil consumption and head gasket troubles...odd choice if long-term trouble-free ownership was the goal.

In michigan, they hold their value-same with Colorado etc. You'll never see them in Texas; so I guess at the very least it's got good resale. He also went with a baseline N/A model. We have a family friend who retires outbacks every 200k so I had no say in the matter (VERY familiar with issues that arise due to owning a 2004 wrx in my younger stupider days

ketchup

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Re: I added up the costs of my used car over the past 5 years
« Reply #49 on: May 20, 2019, 08:03:21 AM »
This is great.  I think it shows that even though you had quite a bit of bad luck, it still works cheaper than buying a new car.

I bought my Camry for $5K with 170,000 miles five years ago.  Now at 230,000 - I haven't had to spend a penny on it.  Knock on wood.

I might try to run the numbers through your spreadsheet.

I paid 13K for my 2012 Camry. I change the oil twice a year, tires when needed. Gas up once or twide a month. I drive less than 7K miles a year.

My friends with the latest clown cars all make fun of it, but in return I make fun of their minuscule bank balances.*

* not really.
Do people actually make fun of 2012 cars now?  That blows my mind.