Originally Posted by
pingsc
I think the IRS estimates the average cost of driving/mile to be $0.55, so I'd say that your estimate is a bit low. Or you could use that to justify spending more on gear

This, right here.
Also, although I have spent lots of money on gear (SKS fenders, Axiom rack, Ortlieb panniers, Cygolite front light, Radbot 1000 rear light, expensive rain gear, etc), it lasts a long time. I have yet to wear any of it out and I have been collecting it since 2004.