Vehicle Ownership Cost

[diyer2]

This is for a vehicle bought used.

I have the records for this car.

 

The figures are for a 2007 Accord Coupe EX-L, V6.

Bought used for $16000.

Owned for 8 years.

60 K miles put on it.

7500 miles a year. Low miles per year. 

Average 20 MPG. Gas was averaged price per gallon.

Sold for $6 K.

 

Cost for 8 years $25000.00

$3125 a year.

 

This includes the purchase price, insurance, gas, maintenance and parts.

Notable parts: AC rebuilt, power steering pump, windshield, 2 sets tires.

I did all the maintenance except tires.

 

Being stuck at home due to the virus this was a time killer.

I figure I'm pretty close with these figures. A few things missed I'm sure.

 

My dad told me when I got my first car "The worst investment but a requirement" and a few others.

 

 

 

[Donstar]

Good deal!  Your breakdown of costs reminded me of a personal story.  My oldest brother made a spreadsheet of  car ownership expenses when he was in his early twenties.  He determined that it was much cheaper for him to take public transit and taxis wherever he needed to go.  He did this until his thirties when marriage, three children and a new job commute made a car the more viable (and practical) alternative!