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Thread: Total Cost of owning an auto

  1. #1
    Sitri
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    Default Total Cost of owning an auto

    I was looking at autos and found this great TCO on Edmunds.com. It shows you the total cost of ownership for depreciation, financing costs, insurance, fuel, and repairs.

    It is great for comparing autos as it breaks it down by year for 5 years.

  2. #2
    God/dess Deogol's Avatar
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    Default Re: Total Cost of owning an auto

    Thats a good one - thanks for sharing

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    God/dess Paris's Avatar
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    Default Re: Total Cost of owning an auto

    Wow, I knew I was making a sensable choice in vehicles when I purchassed my Toyota Corolla back in 2004. But I suffered almost no depreciation! I paid $14,000.00 brand new and it's kelly blue book price is $12,000.00!!

    Woo-hoo! I'm glad I passed on the Prius.


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    Default Re: Total Cost of owning an auto

    yes, more and more data about the true costs of owning and operating a hybrid is starting to come forward ...

  5. #5
    God/dess scarlett_vancouver's Avatar
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    Default Re: Total Cost of owning an auto

    Ugh, cars are SO expensive! I'm figuring it all out right now, and I'm almost regretting buying a car/ going for my license. That $6000/year I'll spend on driving ($3000 insurance ) would have been nice on my mortgage...

    vs the $1400 I spend on the bus per year.


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  6. #6
    God/dess Deogol's Avatar
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    Default Re: Total Cost of owning an auto

    Quote Originally Posted by scarlett_vancouver
    Ugh, cars are SO expensive! I'm figuring it all out right now, and I'm almost regretting buying a car/ going for my license. That $6000/year I'll spend on driving ($3000 insurance ) would have been nice on my mortgage...

    vs the $1400 I spend on the bus per year.


    Yes, when I lived in California, that train came in handy. My car became a weekend movie and grocery getter.

    I always hear nonsense about how expensive trains are, but I wonder how expensive they are to the consumer compared to the cost of insurance and car payments, maintenance, etc.

  7. #7
    Yekhefah
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    Default Re: Total Cost of owning an auto

    How nice! I bought my car new in 2003, and it's worth MORE than what I still owe on it!

  8. #8
    Banned Katrine's Avatar
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    Default Re: Total Cost of owning an auto

    Wow, why do you need to spend $3k annually on insurance? Are there some strange Canadian rules? You are a female, around age 25, right? Do you have something serious on your record? That's really, really expensive! Shop around!

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  9. #9
    tampafldancer
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    Default Re: Total Cost of owning an auto

    yea.. i was going to say the same thing. 3k for insurance!! i pay like 120 a month for a 30k new-ish car.

  10. #10
    God/dess scarlett_vancouver's Avatar
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    Default Re: Total Cost of owning an auto

    Wow, why do you need to spend $3k annually on insurance? Are there some strange Canadian rules? You are a female, around age 25, right? Do you have something serious on your record? That's really, really expensive!
    I'm glad it sounds crazy to you guys too! There's a monopoly on car insurance in BC: www.icbc.com I HAVE to go through them- no shopping around allowed .

    If you've had your license less than 5 years, age irrelevant, insurance comes out to just under $3k a year. Yes, it sucks hairy balls. No, I have nothing on my record- I'm as prime a candidate as anyone could be. And yet.


    Oddly though, the doodad linked above quoted me $2500 USD for insurance on a 2002 Honda Civic SiR at zip code 90210 (wouldn't take Canadian postal code). So that's pretty high too, isn't it?

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  11. #11
    Sitri
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    Default Re: Total Cost of owning an auto

    Yes, that is high, but that is L.A. The cost of repairing bullet holes is high.
    In Florida, it was about $1000/car/year. In Nebraska it is half of that.
    Of course, younger drivers and those with accidents or traffic violations are willfully abused and degraded for at least 5 years. LOL.

  12. #12
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    Default Re: Total Cost of owning an auto

    Damn, if you buy a new Porsche Boxster it depreciates $10k the first year. But if you buy one a year old it is a steady $3k a year or so.

    As far as insurance, I knew someone whose insurance was like $400 a month. She was young and had a DUI. And it was on a 1998 car too.

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