You guys are all ignoring the value of the car when you sell it. Mine is worth more now than when I bought it.

 

cause you need at least 50 posts to be allowed acess to post in the for sale section. After 100 you are not a newbie anymore.

 

LOL! i m with you! i only get to put 600miles to it a month. (try hard to drive on the weekend)

For me, it's [ ( $640 + $75 ) / 600 ] + ( $2.50 / 18 ) = $1.33 per mile to drive my Evo



($640+$75+$84)/8 =$99.88/day (if i only drive it twice a week)

 

$100 every time you go for a ride... ouch!

 

[ ( Monthly Payment + Insurance Payment ) / Avg. Monthly Miles ] + ( Cost of 1 Gallon of Gas / Your Typical MPG )

For me, it's [ ( $490 + $150 ) / 500 ] + ( $2.75 / 17 ) = $1.44 per mile to drive my Evo


While we're at it, feel free to add the cost per day (so you know how much money you're "losing" by NOT driving your Evo a single day).

( Monthly Payment + Insurane Payment + Cost of Gas in Avg. Month ) / 30 Days

For me, that's ( $490 + $150 + $200 ) / 30 = $28 a day to own my Evo

And I only drive my evo on weekends and sometimes after work, so I guess I am paying a lot each day I dont drive it.

 

Depreciation doesn't cost you anything UNTIL you resell the car (or it gets totalled, etc.).

Not going to ever sell the car? Well, you're still losing equity every mile you drive it as it's worth something like 20k+ now and if you were to drive it into the ground it'd be worth 1k+2k.

Of course, if you never drove it and just held onto it, it could be worth the same as it is today or more 10 years from now. Either way, it should be factored into the cost of owning and driving. The OP's equation is not what we would call a "Real" or "True" cost to own because it doesn't take hidden costs into account.

 

How does monthly payment affect your cost per mile?

If I put $1 down and the rest on payment over 36 months vs. putting $25k down and the rest on payment over 72 months... these will affect your cost per mile a lot!!!

You are getting a metric by your calculation... but how useful is it?

 

52cents per mile ..... Damn commuter car :|

 

about .60 a mile here

 

Listen, I understand that some people put a lot down, others put nothing down... some will sell theirs, others won't...

But this thread's intention is just to see how much, each time you hop in your car (or each day you DON'T drive it) is actually coming out of your wallet.

It's more for the poster to do the calculation and see for his/herself what their car costs them to use and not to use. It's not to so much to compare between different costs as it is to say, "Wow, I never bothered to calculate this before, but every mile I put on is equating to this much of my monthly expenses"

Make sense?

 

So if my car is paid off and my insurance is expired my cost per mile is next to nothing in that case. Sorry but that's not way to figure cost per mile.

Here is a link to figure actual costs.

http://www.elevated.org/project/funding/driving/

 

59 cents a mile and 43 bucks a day....... damn... shes expensive

 

Don't you also need to factor in oil changes, approximate tire life and replacement, routine maintenance (fluid changes, clutch per XXXmiles, wiper fluid, car washes and waxes, etc)?

It substantially raises the $$/day when you factor in maintenance as a value built into cost of ownership/mile.