AAA (in 2013) used an average cost per mile of 60.8 cents per mile to estimate the average cost for 15,000 miles of driving to total $9133 per year.
That's about $25/day.
http://newsroom.aaa.com/2013/04/cost-of-owning-and-operating-vehicle-in-u-s-increases-nearly-two-percent-according-to-aaas-2013-your-driving-costs-study/
You can calcuate the "true cost to own" for a new car here at Edmunds:
True Cost to Own® (TCO®) Calculator on Edmunds.com. Just put in the name and model of the car. Remember, the estimate is for
a five year period, and includes all costs... fuel, repairs, depreciation (mmm...check that out.)registration, insurance etc.
A mid priced model comes out to about $50K over 5 years. $10K/year.
If you do change cars every five years, those costs are ongoing.
.......................................
Several alternatives...
Bicycle
Publice transportation - trains, planes, and other automobiles... taxi, Uber etc.
Keep that old car.
Using my own calculations, and the same categories and mileage as above. I estimated the actual average 15 year cost year of owning my 96 Cadillac and 98 Town car (per car) to be about $25K for five years, or $5K per year.
The difference comes from the lower initial cost (used cars), taxes, insurance, depreciation, and finance fees. There are some increased repair fees, but the rest of the costs are much lower.
Over the 15 year period, this is a savings of $75K. The major savings come from the depreciation, financing, and insurance costs.
YMMV
That's about $25/day.
http://newsroom.aaa.com/2013/04/cost-of-owning-and-operating-vehicle-in-u-s-increases-nearly-two-percent-according-to-aaas-2013-your-driving-costs-study/
You can calcuate the "true cost to own" for a new car here at Edmunds:
True Cost to Own® (TCO®) Calculator on Edmunds.com. Just put in the name and model of the car. Remember, the estimate is for
a five year period, and includes all costs... fuel, repairs, depreciation (mmm...check that out.)registration, insurance etc.
A mid priced model comes out to about $50K over 5 years. $10K/year.
If you do change cars every five years, those costs are ongoing.
.......................................
Several alternatives...
Bicycle
Publice transportation - trains, planes, and other automobiles... taxi, Uber etc.
Keep that old car.
Using my own calculations, and the same categories and mileage as above. I estimated the actual average 15 year cost year of owning my 96 Cadillac and 98 Town car (per car) to be about $25K for five years, or $5K per year.
The difference comes from the lower initial cost (used cars), taxes, insurance, depreciation, and finance fees. There are some increased repair fees, but the rest of the costs are much lower.
Over the 15 year period, this is a savings of $75K. The major savings come from the depreciation, financing, and insurance costs.
YMMV
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