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Cost of Ownership

 
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  • 2 Post By dougs
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Old 14 Jan 2018, 06:27 pm
dougs's Avatar
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Join Date: Aug 2013
Location: los angeles, california
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Default Cost of Ownership

There is more cost to owning a new car than that $429/month payment. AAA recently released its annual 'cost of ownership' report. For a brand-new average sedan bought in 2017, owning and operating it for five years will cost a driver an average of $8,469 annually, or $706 each month, according to their study. The annual AAA evaluation of ownership costs noted that small sedans are the least expensive vehicles to drive at $6,354 annually. Included in this cost, new vehicles, on average, will cost a driver $1,186 per year to maintain and repair. Consumer Reports Magazine also estimates cost of car ownership. Most of their vehicle profiles include an "Owner Cost/Mile" line. For example, the subcompact Chevrolet Sonic cost to own is estimated at 45 cents a mile. If you drive 12,000 miles a year, that is $5,400, or $450 per month. The Kia Soul is estimated to run 60 cents a mile for total ownership cost, or $600 a month.

Just for fun, now that the 2006 Base PT has hit 85,000 miles, I went thru all my receipts to calculate the true cost of ownership of this PT Cruiser. It was purchased new in November, 2005. Starting with the initial purchase price of $16,500, then tax, monthly payment interest, registration each year, insurance, and of course, maintenance and repairs. Those include oil changes, replacing the radiator twice (once for a pin hole leak, once when the wife destroyed the bottom edge when going too fast over a speed bump), battery (twice), tires, brakes, horn ring, control arms/bushings, plugs, wires, ignition switch, and most recently, the timing belt, including the water pump and motor mounts. (I did not want to wait until it hit the 100,000 mile mark). I am not mechanically inclined, so I must use my trusty neighborhood shop for repairs, so total maintenance and repairs over the years comes to $8,744. The grand total cost of ownership, for 134 months, comes to $49,115. Allowing a $1,500 credit for residual depreciation resale value, total cost of ownership is $48,115. Which is an average of $359 per month, or $4,308 per year, or 57 cents a mile.
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Old 14 Jan 2018, 07:50 pm
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Default Re: Cost of Ownership

I use an app called aCar on my phone to record and track everything related to my PT.

https://play.google.com/store/apps/d...ker.acar&hl=en

This is the most current screenshot of the records:



I purchased my PT 01/06 and I didn't start using aCar until around 02/10, so I'm missing 4 years of gas records which would certainly raise all of the statistics that I've recorded so far. But I did go back and record every maintenance item that I could find in my records.

Some figures would also be a little skewed as I had an extended warranty that covered almost $6000 in repairs while it was in effect. But I still recorded the repair, even though I didn't pay for it.
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Last edited by rckstein; 14 Jan 2018 at 08:00 pm.
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Old 14 Jan 2018, 08:10 pm
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Default Re: Cost of Ownership

Quote:
Originally Posted by rckstein View Post
I use an app called aCar on my phone to record and track everything related to my PT.

https://play.google.com/store/apps/d...ker.acar&hl=en

This is the most current screenshot of the records:



I purchased my PT 01/06 and I didn't start using aCar until around 02/10, so I'm missing 4 years of gas records which would certainly raise all of the statistics that I've recorded so far. But I did go back and record every maintenance item that I could find in my records.

Some figures would also be a little skewed as I had an extended warranty that covered almost $6000 in repairs while it was in effect. But I still recorded the repair, even though I didn't pay for it.
Thanks for your note... I will have to check out that APP! The price of gas here in California is always changing, but I used an average price of $3.10/gallon at 18 mpg average for my calculation.
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Old 14 Jan 2018, 08:11 pm
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Default Re: Cost of Ownership

If my wife hadn't run over that speed bump and tore up the radiator and hoses, my costs would have been lower!
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Old 14 Jan 2018, 08:55 pm
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Join Date: Oct 2017
Location: Ontario
Posts: 129
Default Re: Cost of Ownership

I bought my PT for $250, Paid over 1000 in parts, tires, registration to get it on the road.


Will be curious of cost of ownership in the future, That AAA report is eye opening Ill probably calculate it in a year or so.


Currently paying $2800 a year for insurance so that hurts
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Old 14 Jan 2018, 08:57 pm
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Join Date: May 2016
Location: Wichita, Kansas
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Default Re: Cost of Ownership

I keep track of expenses on all my vehicles on a spread sheet.

2002 Chrysler PT Cruiser Expenses

02data.jpg
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