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With all the discussions I read on here regarding what it costs to drive a vehicle, I thought I’d add up the costs of me owning a car over the last ten years. It’ll be fun to see what other people’s experiences are. Please note, I’m using $3/gallon gas over that time frame, to be fair that is what everyone should use.
2002 Malibu: $12500
Interest on loan: $2200
Insurance: $4320
Tabs: $1000—roughly, not sure when they dropped to $40/year for me.
Fuel: $25178: based on 28mpg life time average I’ve had with my car.
Repairs: $3000 (estimated to the best of my knowledge)
Tires: $1500
Brakes: $700
Total: $50,398 dollars over the 120 months I’ve had this car. That is $419/month.
Car currently has 235,000 miles on it, divided out its $.21/mile to drive my car over the last 10 years. As a side note, before last year this car did everything for me, towed my sled, hauled a little fishing boat, (Mastercraft was stayed on a lift at my parents).
I figured it might be a fun activity to step back and take a look at the true cost to drive a car, I’m sure I’m missing a few $$ here or there but I think I got the major ones.
what is everyone else getting?
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