Not a great example. You drive this car ~20-25% as much as the average American. Quadruple your fuel costs, double (at least) your maintenance/depreciation and tell your insurance company that this car now gets driven 12,000 mi/yr. Let me know where that puts you.Cars are pretty cheap as long as you avoid finance and buy something lightly used with a good depreciation curve.
I drive a sports car, commonly thought to be expensive. In reality depreciation is around $3.5k a year, insurance $1k a year, registration $1k a year, fuel (5,000km/year) is around $1k a year, maintenance is $500 per year. So total cost is $7k a year, well under the estimated cost given in the opening post, and this is for a car which I purchased for a bit over $100k.
After deductions (since tax loopholes allow me to claim it as a work vehicle) the car costs me around $5k net per year.
Statistics: Posted by Luke Duke — Mon Dec 02, 2024 8:57 am — Replies 8 — Views 190