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Message
Car cost vs miles driven
Posted on 8/14/16 at 9:15 pm
Posted on 8/14/16 at 9:15 pm
Not sure how solid my logic is but part of my buying/owning decisions for my commuter car is how much the car costs vs how many miles it takes to "break even"
The break even is every $1,000 spent gets 10,000 miles driven without major repair.
So when I'm buying a new car for $13,000 I'm predicting I'll get to at least 130k without big repairs. Or if I buy a used $5,000 car I'm determining I have a good chance of making it 50k
I find it hard to achieve my value when comfort and options are put into play. A $35,000 Acura makes it almost impossible to get my ratio but I am also understanding im gaining a more satisfying owning experience.
Does anyone else think this way?
The break even is every $1,000 spent gets 10,000 miles driven without major repair.
So when I'm buying a new car for $13,000 I'm predicting I'll get to at least 130k without big repairs. Or if I buy a used $5,000 car I'm determining I have a good chance of making it 50k
I find it hard to achieve my value when comfort and options are put into play. A $35,000 Acura makes it almost impossible to get my ratio but I am also understanding im gaining a more satisfying owning experience.
Does anyone else think this way?
This post was edited on 8/14/16 at 9:20 pm
4
Posted on 8/14/16 at 10:48 pm to gobuxgo5
That probably won't work for a lot of trucks
Posted on 8/15/16 at 8:14 am to jimbeam
Yeah that's why I mentioned commuter car. I don't think a good indicator when your vehicle is fulfilling other needs buying commiting.
Posted on 8/15/16 at 8:38 am to gobuxgo5
Probably fairly accurate
What $ amount would constitute a major repair for you?
What $ amount would constitute a major repair for you?
Posted on 8/15/16 at 9:50 am to gobuxgo5
quote:
So when I'm buying a new car for $13,000 I'm predicting I'll get to at least 130k without big repairs. Or if I buy a used $5,000 car I'm determining I have a good chance of making it 50k
I think a big problem with people's mentality when it comes to cars is a fear of "big repairs" or a car that isn't "reliable". If you buy a new car you're spending $10000+ in depreciation over 5 years. Even $5000 in repairs/maintenance would be quite high for a reliable (i.e. Japanese) used car over the same time frame and your depreciation hit will be way less. Anytime you buy a new or newish car you have to realize you're paying for enjoyment and personally I'd rather put that fun money elsewhere.
Posted on 8/15/16 at 7:31 pm to gobuxgo5
Way too many variables for this to be accurate, increased cost of initial purchase of the car does not mean it will have increased reliability in the slightest. Also a $5k Toyota is not the same as a $5k MB, BMW, etc. Just like a $30k+ Toyota /Honda is not the same as a $30k Euro car. Just because cars are the same price doesnt mean the reliability is even close.
Posted on 8/15/16 at 8:00 pm to VOLcano
I'm reading your thoughts and critiques I see the down votes for my question.
Let me break down my logic this way:
You buy Chevy Impala for $24,500. You own for 12 years.
Chevy dies/kerplibk at 150,000 miles.
You scrap for $300.
Total cost of Chevy is $24,200.
I buy a Toyota Yaris for $15,000
At $150,000 miles it's still fine. But it dies at $200,000 miles 15 years later.
I scrap for $100. Total cost was $14,900.
You are 3 years into your next Impala at $25,000 cost.
No sense made on this?
Let me break down my logic this way:
You buy Chevy Impala for $24,500. You own for 12 years.
Chevy dies/kerplibk at 150,000 miles.
You scrap for $300.
Total cost of Chevy is $24,200.
I buy a Toyota Yaris for $15,000
At $150,000 miles it's still fine. But it dies at $200,000 miles 15 years later.
I scrap for $100. Total cost was $14,900.
You are 3 years into your next Impala at $25,000 cost.
No sense made on this?
Posted on 8/15/16 at 8:18 pm to gobuxgo5
Totally, but i think you should compare the best 2 cars you can afford at a given price.
$20,000 Tacoma with 70k miles vs. $20,000 Canyon with 50k. Something like that....
The hard part is expected life of the car. There are folks that swear that you can get almost any car built today to 180k with no major issues if you take care of it.....if this is the case, depreciation is almost the only thing that matters for set price points.
$20,000 Tacoma with 70k miles vs. $20,000 Canyon with 50k. Something like that....
The hard part is expected life of the car. There are folks that swear that you can get almost any car built today to 180k with no major issues if you take care of it.....if this is the case, depreciation is almost the only thing that matters for set price points.
Posted on 8/15/16 at 8:30 pm to gobuxgo5
I didn't downvote you but I still dont see the logic in your posts lol. Cars/motorcyles are my biggest hobby so I guess we just dont have the same outlook. I dont really know what you mean by saying the vehicle "dies" because a car should not be totally unusable in 12-15 years. Just because a car requires a major repair does not mean it should be "scrapped" because it is usually cheaper to repair the vehicle and keep driving it as opposed to giving it away for nothing and buy a new car.
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