Car Cost Calculator for the millionth time

[davidmcowan]

I tried searching but had trouble finding anything reliable. My coworkers and I are presenting something to our bosses regarding car reimbursement rates and I was hoping to find a concrete calculator to help us with the process. Is there one out there?

[ctyler]

I tried searching but had trouble finding anything reliable. My coworkers and I are presenting something to our bosses regarding car reimbursement rates and I was hoping to find a concrete calculator to help us with the process. Is there one out there?

You might try the following:
http://www.edmunds.com/apps/cto/CTOintroController

Edmunds True Cost to Own.

Also go here and download chapters 1&2 and take a look at The Car Cost Worksheet in chapter 2. http://www.livecarfree.com/

[Roody]

The IRS allows 44.5 cents per mile. Probably a good rough guesstimate.

[bragi]

A good rule of thumb appears to be that, over five years, the cost of owning a car will be twice the original purchase price. If you by a new low-end Honda Civic for $16000, it will cost you $32000 to own it for five years. If, instead of buying the car, you took that $16000 and invested it in a mutal fund that yields 10% a year, you'd have a toal of $25,768.00 after five years. In other words, if you went car-free and invested the money instead, you'd be $57,000 richer than if you'd bought the car. (I know, 10% a year on mutual funds is perhaps a bit optimistic...)