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Whats your automotive yearly total cost of ownership?
Posted by: mattkime
Date: August 21, 2023 07:16AM
Poll
Whats your yearly automotive total cost of ownership?
Only registered users are allowed to vote for this poll.
35 votes were received.
>$1,000 5
 
14%
$1,000 - $2,000 5
 
14%
$2,000 - $3,000 5
 
14%
$3,000 - $4,000 1
 
3%
$4,000 - $5,000 4
 
11%
$5,000 - $6,000 4
 
11%
$6,000 - $7,000 1
 
3%
$7,000 - $8,000 2
 
6%
$8,000 - $9,000 0
 
0%
$9,000 - $10,000 1
 
3%
$10,000 - $12,000 1
 
3%
$12,000 - $14,000 1
 
3%
$14,000 - $16,000 1
 
3%
$16,000 - $18,000 2
 
6%
$18,000 - $20,000 1
 
3%
$20,000 - $25,000 0
 
0%
$25,000 - $30,000 0
 
0%
$30,000 - $35,000 1
 
3%
$35,000 - $40,000 0
 
0%
$40,000 - $45,000 0
 
0%
$45,000 - $50,000 0
 
0%
$50,000 - $60,000 0
 
0%
$60,000 - $70,000 0
 
0%
$70,000 - $80,000 0
 
0%
$80,000 - $90,000 0
 
0%
$90,000 - $100,000 0
 
0%
> $100,000 0
 
0%



Cost of the car plus insurance, fuel / electricity, tires, wiper fluid.







Edited 1 time(s). Last edit at 08/21/2023 07:33AM by mattkime.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: gabester
Date: August 21, 2023 07:54AM
It's a guesstimate, but around $5500. That's counting everything I can think of - tollway, oil changes, wiper blades, insurance, fuel, registration and city stickers et cetera... Should probably toss $1k on top of that for miscellaneous I didn't think of (e.g. parking?)



g=
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Re: Whats your automotive yearly total cost of ownership?
Posted by: TheTominator
Date: August 21, 2023 07:56AM
I assume you meant to write "< $1000" instead of "> $1000".
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Re: Whats your automotive yearly total cost of ownership?
Posted by: mattkime
Date: August 21, 2023 07:58AM
Quote
TheTominator
I assume you meant to write "< $1000" instead of "> $1000".

You're correct, although I'm also curious how you keep your car expenses so low.



Edited 1 time(s). Last edit at 08/21/2023 07:59AM by mattkime.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: TheTominator
Date: August 21, 2023 08:01AM
Quote
mattkime
Quote
TheTominator
I assume you meant to write "< $1000" instead of "> $1000".

You're correct, although I'm also curious how you keep your car expenses so low.

I don't currently have a car.
Well, technically I do. But it needs to go to the recycler.

Your curiosity probably says "How can that be? After all you are in a rural place with no public transport."
There are three working cars in our household so I borrow one of those when I need to run to town.



Edited 1 time(s). Last edit at 08/21/2023 08:03AM by TheTominator.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: Tiangou
Date: August 21, 2023 08:07AM
Would be about $1700/yr with insurance being the largest single chunk and gas after that, but in this state we have a personal property tax that adds over a thousand dollars to that… and another notable expense is the fuel-efficient car penalty at registration time.



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Re: Whats your automotive yearly total cost of ownership?
Posted by: mattkime
Date: August 21, 2023 08:10AM
My thinking -

$5k/year purchase of car - $30k, 6 years in, hope to keep it a long time though.
$1440 / year for fuel - 12k miles, 25 mpg, $3/gal.
$700 / year insurance
$200/year - tires
$100/ year - oil changes, etc, general service. I do most of it myself.

---

Currently at $7,400/year but I could get it down to about $5/year if we keep the car 15 years.

Hm, this is for a family of four. Since my wife and I share a car, does that mean I get to divide the number in half? I guess most people live in a two or more car household.

---

I realized that I could see how much the car is currently worth. $18k. This would reduce our cost $3k/year to $4,400







Edited 4 time(s). Last edit at 08/21/2023 08:50AM by mattkime.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: mattkime
Date: August 21, 2023 08:11AM
Quote
TheTominator
I don't currently have a car.
Well, technically I do. But it needs to go to the recycler.

Your curiosity probably says "How can that be? After all you are in a rural place with no public transport."
There are three working cars in our household so I borrow one of those when I need to run to town.

Shoot! I completely meant to put a $0 option.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: cbelt3
Date: August 21, 2023 08:53AM
All the cars and the RV ? Expensive. Considering I’m giving away “my” car to my sisters friend ? Gonna be zero.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: August West
Date: August 21, 2023 09:03AM
I've been remote for 3 or so years, don't really think of auto expences any more. Insurance @ 400/year, @4@32 tanks of gas.



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Re: Whats your automotive yearly total cost of ownership?
Posted by: ztirffritz
Date: August 21, 2023 09:05AM
Make: Chevy
Model: Volt
Year: 2013

Electricity: $260 (@$1/day, 260days/year@$.10/kwh))
Petrol: $50/year
Insurance: I have 4 insured cars, so I'm paying a bit more than most, but divided out, it's about $65/month, $780/year
Tires: $200/year ($1000/4-5 years)
Wipers: $50/year wiper fluid is a few buck annually
Oil: $50/year ($100/2 years)
Vehicle Registration (WA state): $300/year

Total: 260+780+200+50+50+300=$1690/year (some years more, some less because I don't need oil or tires every years)
I drive about 10k miles/year, so about $0.17/mile



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Edited 2 time(s). Last edit at 08/21/2023 09:07AM by ztirffritz.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: mattkime
Date: August 21, 2023 09:16AM
Quote
ztirffritz
Make: Chevy
Model: Volt
Year: 2013

Electricity: $260 (@$1/day, 260days/year@$.10/kwh))
Petrol: $50/year
Insurance: I have 4 insured cars, so I'm paying a bit more than most, but divided out, it's about $65/month, $780/year
Tires: $200/year ($1000/4-5 years)
Wipers: $50/year wiper fluid is a few buck annually
Oil: $50/year ($100/2 years)
Vehicle Registration (WA state): $300/year

Total: 260+780+200+50+50+300=$1690/year (some years more, some less because I don't need oil or tires every years)
I drive about 10k miles/year, so about $0.17/mile

annual cost of the vehicle itself?



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Re: Whats your automotive yearly total cost of ownership?
Posted by: ztirffritz
Date: August 21, 2023 09:41AM
Quote
mattkime
Quote
ztirffritz
Make: Chevy
Model: Volt
Year: 2013

Electricity: $260 (@$1/day, 260days/year@$.10/kwh))
Petrol: $50/year
Insurance: I have 4 insured cars, so I'm paying a bit more than most, but divided out, it's about $65/month, $780/year
Tires: $200/year ($1000/4-5 years)
Wipers: $50/year wiper fluid is a few buck annually
Oil: $50/year ($100/2 years)
Vehicle Registration (WA state): $300/year

Total: 260+780+200+50+50+300=$1690/year (some years more, some less because I don't need oil or tires every years)
I drive about 10k miles/year, so about $0.17/mile

annual cost of the vehicle itself?

It's paid off. I don't finance vehicles. I paid about $15k for it in 2017.



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MacResource User Map: [www.zeemaps.com]#



Edited 1 time(s). Last edit at 08/21/2023 09:42AM by ztirffritz.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: modelamac
Date: August 21, 2023 10:07AM
I don't know. It depends on miles driven, and we don't have to budget.



Ed (modelamac)

I think I will just put an OUT OF ORDER
sticker on my head and call it a day.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: davester
Date: August 21, 2023 10:16AM
Quote
ztirffritz
Quote
mattkime
Quote
ztirffritz
Make: Chevy
Model: Volt
Year: 2013

Electricity: $260 (@$1/day, 260days/year@$.10/kwh))
Petrol: $50/year
Insurance: I have 4 insured cars, so I'm paying a bit more than most, but divided out, it's about $65/month, $780/year
Tires: $200/year ($1000/4-5 years)
Wipers: $50/year wiper fluid is a few buck annually
Oil: $50/year ($100/2 years)
Vehicle Registration (WA state): $300/year

Total: 260+780+200+50+50+300=$1690/year (some years more, some less because I don't need oil or tires every years)
I drive about 10k miles/year, so about $0.17/mile

annual cost of the vehicle itself?

It's paid off. I don't finance vehicles. I paid about $15k for it in 2017.

So if you keep it for say 10 years before buying another vehicle the amortized cost would be $1,500*/year bringing your total to $3190/year.

*It would actually be more than that since you lost the interest you would make if you hadn't spent that money upfront.



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Edited 1 time(s). Last edit at 08/21/2023 10:19AM by davester.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: Speedy
Date: August 21, 2023 10:17AM
Quote
ztirffritz
Make: Chevy
Model: Volt
Year: 2013

Electricity: $260 (@$1/day, 260days/year@$.10/kwh))
Petrol: $50/year
Insurance: I have 4 insured cars, so I'm paying a bit more than most, but divided out, it's about $65/month, $780/year
Tires: $200/year ($1000/4-5 years)
Wipers: $50/year wiper fluid is a few buck annually
Oil: $50/year ($100/2 years)
Vehicle Registration (WA state): $300/year

Total: 260+780+200+50+50+300=$1690/year (some years more, some less because I don't need oil or tires every years)
I drive about 10k miles/year, so about $0.17/mile

Same make, model and year vehicle.
Electricity about the same $250
Petrol $30 (GM requires the Volt to burn one nine gallon tank per year)
Insurance $652 (full coverage, $1k deductible)
Tires $200 (PHEVs are hard on tires)
Oil $5 (oil change every decade)
Registration: $85
Brakes: never

I paid $16,000 in 2016. I’ll sell it probably in 2036, so $800/year. It’s driven about 7,000 miles per year.

My 2014 Cadillac ELR (Caddy on a Volt drivetrain) runs about twice the Volt’s miles each year and almost all those extra miles are on gas. The oil gets changed annually, registration is $175, tires $400 and insurance $1020.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: mrbigstuff
Date: August 21, 2023 11:41AM
Gasoline is the biggest expense, followed. by repair and insurance (each about $1k per year)



Hurts like a bastid...
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Re: Whats your automotive yearly total cost of ownership?
Posted by: ztirffritz
Date: August 21, 2023 12:11PM
Quote
davester
Quote
ztirffritz
Quote
mattkime
Quote
ztirffritz
Make: Chevy
Model: Volt
Year: 2013

Electricity: $260 (@$1/day, 260days/year@$.10/kwh))
Petrol: $50/year
Insurance: I have 4 insured cars, so I'm paying a bit more than most, but divided out, it's about $65/month, $780/year
Tires: $200/year ($1000/4-5 years)
Wipers: $50/year wiper fluid is a few buck annually
Oil: $50/year ($100/2 years)
Vehicle Registration (WA state): $300/year

Total: 260+780+200+50+50+300=$1690/year (some years more, some less because I don't need oil or tires every years)
I drive about 10k miles/year, so about $0.17/mile

annual cost of the vehicle itself?

It's paid off. I don't finance vehicles. I paid about $15k for it in 2017.

So if you keep it for say 10 years before buying another vehicle the amortized cost would be $1,500*/year bringing your total to $3190/year.

*It would actually be more than that since you lost the interest you would make if you hadn't spent that money upfront.

I disagree. That $15k was actually about $8k that had been invested over the previous 10 years. I can take the money that would otherwise be used monthly for paying interest on a depreciating asset or I can pay off the depreciating asset all at once, paying no interest and then use the same money that would otherwise have paid for an auto loan monthly to invest in higher value investments. It is NEVER a good idea to finance an asset that is not earning income. I make car payments to myself, instead of some bank.There might be some fringe scenario where it makes sense, but I'd rather know that if my employer implodes, my investments collapse, and my savings are lost, at least I still own my home and my vehicle. That makes many bad situations endurable. Without housing or a vehicle you're homeless and unemployable.



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Re: Whats your automotive yearly total cost of ownership?
Posted by: M A V I C
Date: August 21, 2023 12:44PM
Our insurance went up 50% this year, mainly because the good credit discount we were getting is now illegal.

Our gas, even the cheap stuff, is still over $5/gal.

I don't want to do the math. We're at about $5k/yr on gas alone.




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Re: Whats your automotive yearly total cost of ownership?
Posted by: jdc
Date: August 21, 2023 01:31PM
We have 3 cars, so...





Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: sekker
Date: August 21, 2023 02:28PM
According to the IRS, the standard mileage rate for cars is: 65.5 cents per mile.

[www.irs.gov]

If MAVIC used ~1000 gallons per year, at 20mpg = 20,000 miles

20k x 0.655 = ~$13100.

There is a reason cars are a BIG deal in our economy - we spend a LOT of $$ on them,
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Re: Whats your automotive yearly total cost of ownership?
Posted by: mattkime
Date: August 21, 2023 02:43PM
Quote
sekker
There is a reason cars are a BIG deal in our economy - we spend a LOT of $$ on them,

I was on a financial forum and noticed that someone said 'its difficult to get car ownership under $2k/year' and after running the number myself, I understand why.

Its my intention to be frugal with car ownership, but still enjoyable. When I mentally ran the numbers I was surprised by what I came up with - mostly due to how I calculated the cost of buying the car. I'm sure we're near the lower end for a family of four although not on the bottom.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: Speedy
Date: August 21, 2023 02:48PM
Quote
Speedy
Quote
ztirffritz
Make: Chevy
Model: Volt
Year: 2013

Electricity: $260 (@$1/day, 260days/year@$.10/kwh))
Petrol: $50/year
Insurance: I have 4 insured cars, so I'm paying a bit more than most, but divided out, it's about $65/month, $780/year
Tires: $200/year ($1000/4-5 years)
Wipers: $50/year wiper fluid is a few buck annually
Oil: $50/year ($100/2 years)
Vehicle Registration (WA state): $300/year

Total: 260+780+200+50+50+300=$1690/year (some years more, some less because I don't need oil or tires every years)
I drive about 10k miles/year, so about $0.17/mile

Same make, model and year vehicle.
Electricity about the same $250
Petrol $30 (GM requires the Volt to burn one nine gallon tank per year)
Insurance $652 (full coverage, $1k deductible)
Tires $200 (PHEVs are hard on tires)
Oil $5 (oil change every decade)
Registration: $85
Brakes: never

I paid $16,000 in 2016. I’ll sell it probably in 2036, so $800/year. It’s driven about 7,000 miles per year.

My 2014 Cadillac ELR (Caddy on a Volt drivetrain) runs about twice the Volt’s miles each year and almost all those extra miles are on gas. The oil gets changed annually, registration is $175, tires $400 and insurance $1020.

I forgot to add repair costs. So add another $100/year.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: RAMd®d
Date: August 21, 2023 04:49PM
I have no idea.

I pay insurance, put gas in it, and drive.






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Re: Whats your automotive yearly total cost of ownership?
Posted by: chopper
Date: August 21, 2023 05:19PM
I bought a nice looking "mechanic special" Volvo.

I bought it for $3400.

I fixed it for around $200 plus some time.

My kid has put around 3000 miles on it. Gas and an oil change. Runs nice. Solid as a tank.

It looks like a newer car.

I plan on putting Blizacks on it in the Fall.

I plan on selling it for around $3000 in 2025.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: C(-)ris
Date: August 21, 2023 07:18PM
I don't even want to think about it...

2019 F250 Superduty Crew Cab Long box 4x4

$65K sticker price, figure 10 years of life so $6500/yr

$5540 / year for fuel - 20k miles, 13 mpg, $3.60/gal.
$928 / year insurance
$500/year - tires ($1500 every 3 years)
$400/year -Oil Changes ($100 each full synthetic)
$300/year -Transmission Flush ($300 every year)
$100/year -Front/Rear Diff/Transfer case service($300 every 3)
$300/year -Registration
$500/year -Brakes($1000 every 2 years)

Works out to be right around $15,000 /year barf smiley barf smiley barf smiley

My OTHER car is a 2006 Chevy Malibu. Was $500 5 years ago so lets say $100 a year.

$100- Vehicle Cost
$2076 / year for fuel - 15k miles, 26 mpg, $3.60/gal.
$286 / year insurance
$100/year - tires ($400 every 4 years)
$105/year -Oil Changes ($35 each at Walmart x3)
$105/year -Registration

Works out to $2772 per year almost entirely gas related.



C(-)ris
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~



Edited 1 time(s). Last edit at 08/21/2023 07:23PM by C(-)ris.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: mattkime
Date: August 21, 2023 07:21PM
Quote
chopper
I bought a nice looking "mechanic special" Volvo.

I bought it for $3400.

I fixed it for around $200 plus some time.

My kid has put around 3000 miles on it. Gas and an oil change. Runs nice. Solid as a tank.

It looks like a newer car.

I plan on putting Blizacks on it in the Fall.

I plan on selling it for around $3000 in 2025.

I'm talking to you next time I need a car.



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Re: Whats your automotive yearly total cost of ownership?
Posted by: mattkime
Date: August 21, 2023 07:22PM
Quote
C(-)ris
$500/year -Brakes($1000 every 2 years)

Is that due to hauling a boat? My VW golf needs breaks every....I'm not sure, 70k in and I've flushed the brake fluid but that it and I'm not even sure if it was needed.



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Re: Whats your automotive yearly total cost of ownership?
Posted by: C(-)ris
Date: August 21, 2023 07:26PM
Quote
mattkime
Quote
C(-)ris
$500/year -Brakes($1000 every 2 years)

Is that due to hauling a boat? My VW golf needs breaks every....I'm not sure, 70k in and I've flushed the brake fluid but that it and I'm not even sure if it was needed.

29' Camper through the Rocky Mountains and bluffs in WI. We did Glacier, Yellowstone, Tetons and Jackson this year. Also took it on the Going to the Sun Road. In my off time we rent out the camper and it gets delivered every weekend somewhere in the summer. The brakes are shot after every summer of hauling/mountain driving. Plenty of pad, but they get toasty and then don't stop as well.



C(-)ris
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~



Edited 1 time(s). Last edit at 08/21/2023 07:28PM by C(-)ris.
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Re: Whats your automotive yearly total cost of ownership?
Posted by: Smote
Date: August 21, 2023 07:46PM
mine is used in my business, so everything is a tax write-off. smileys with beer

My wife works from home and her's was paid off a decade ago, so not much. Also do all of our maint and most repairs.

Gotta love a basic small pick-up with minimal options. Not much to go bad.



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Re: Whats your automotive yearly total cost of ownership?
Posted by: Buzz
Date: August 21, 2023 09:55PM
Let's see.....

3 old cars
$3,300 annualized ownership/acquisition/depreciation cost
$3,200 fscking car insurance + auto club cost
$6,300 gas (20K miles @ 15MPG avg X $4.75/gal)
$312    tires ($2,500 over 8 years across 3 cars)
$800    oil, wipers, trans, brakes, etc.
$700    registration

Pushing $15K/year.

Damn, I so wish I could still ride a bicycle.
OTOH, I'm in for my IVIG infusions for 2 days every 3 weeks, or 34 days/yr, and each infusion day runs about the same as the annual car expense.
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