Originally Posted by
bemoore
That's some creative accounting there. You failed to account for many other costs for the car, such as maintenance and repairs...
Lots of "creative accounting" in this thread and others like it. One would think many people got their cars for free from Oprah- but even in that case they'd have to pay the sales tax. But so few people factor in the initial cost of the vehicle as if only day to day operating costs were the comparison.
For example here's a break down of some of the costs (but by no means all) over 11 years of owning a Toyota Corolla wagon bought new in 1996:
Intial cost incl. taxes and registration: 17,110 (paid up front- no loan)
Insurance for 11 years: 13,600
mileage on car at time of resale: 194000
approx fuel costs: 16,415.
maintenance: 8200. (approx. and probably too low but includes tires/oil changes/2 timing belt changes/ 2 batteries/clutch /brakes/ shocks etc)
parking/tolls- 4320
That's roughly $5100/year to own that car without factoring
all of the true costs.
.