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Jun 26, 2017
6:11:38pm
eyes4byu Contributor
I just did a study to show my kids how car value and expenses work.
I compared my 1996 Toyota Camry purchased 9yo for $5500 at 78K. Has been a very reliable, low-maintenance car. After taxes, insurance, gas (at $2.75/gal avg), 26 mpg avg, original price, tires and maintenance (actual receipts) in western Colorado, <50yo primary driver with good record. Total cost/miles till today 21.2cents/mile I don't know how many can get that good of a number, but I did for that car. Yes, it takes an anal person to figure that out. My Suburban is over 60cents/mile(14mpg/89octane) so far.

I showed my children with a new truck off of the lot $45,000 (cash) that the number was >$1.25/mile if driven to the 100k mark. That may not seem like that much of a difference in small bills, but my Camry costs $21,200 for 100k and the new truck is $125,000 ($104,000 more for 100k (using insurance and licensing numbers at 10 years)miles) How often do you drive 100k miles? This is real math and real budgeting.

Cars are expensive, yes. Some cars are very, very expensive.
eyes4byu
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eyes4byu
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Aug 26, 2007
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6/26/17 4:14pm

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