I skipped this report in 2006 through 2008, but am bringing it back for my baby's 8th birthday!
The Most Boring On-Topic Post *Ever* (Part IV)!
I purchased my 2001 GT Coupe for $24,861.38 on October 31, 2001. As of today, I have had it eight years. I have kept meticulous records on my costs for this vehicle. This is my report of those costs as of October 31, 2009, to RAMFM.
The car (El Imán de Chicas):
The car is 2001 Mustang GT coupe, green/tan, leather and automatic transmission. I replaced the in-dash six CD changer with an after market unit for my MP3 player, but I will put the changer back if and when I sell the car.. Other than replacing the original Goodyear tires with Bridgestone Potenzas at
45,000, 95,000 and 135,000 miles, no modifications have been made to this car. The car currently has 138,831 miles; it had 259 when I bought it. The car is in good condition. There are no mechanical issues, and only minor cosmetic issues (some pitting on front bumper and the hood and worn spots on the driver's side floor mat). The car was rear-ended in a collision in October 2002, in which the front and rear bumpers and the left-rear quarter panel were damaged. The car was rear-ended again in November 2004. All damaged parts were replaced.The costs:
The costs calculated using actual cash payments are in the left column. The costs using depreciation (from edmunds.com) instead of loan payments are in the right column. The report is designed to be read using a mono-spaced font. If you are having trouble reading it in your newsreader, you can copy it into Notepad.
The "note" was $414.35 per month (60 months, 0% same as cash). Insurance coverage is provided by USAA, with $100K/300K/$100K limits. The service payments are mainly for tires and scheduled maintenance -- there are no significant engine / mechanical repairs as of this report. The "other costs" are car washes and supplies.
Cash Payment Basis Depreciation Basis
Costs Amount Costs Amount
----------------------------------- ----------------------------------- Payments $ 24,862.34 Depreciation $ 20,023.38 Service 6,269.91 Service 6,269.91 Fuel 12,767.67 Fuel 12,767.67 Insurance 6,868.10 Insurance 6,868.10 Tax & License 1,460.20 Tax & License 1,460.20 Other Costs 644.85 Other Costs 644.85
----------------------------------- ----------------------------------- Total Cash Costs $ 52,873.07 Total Accrued Costs $ 48,034.11 =================================== ===================================
The following section breaks the total costs down by mile and time period.
Cost per mile and time period Cost per mile and time period
----------------------------------- ----------------------------------- Miles Driven 138,572 Miles Driven 138,572 Cash Cost per mile $ 0.3816 Accrued Cost per mile $ 0.3466 Daily Cost $ 18.09 Daily Cost $ 16.44 Weekly Cost $ 126.66 Weekly Cost $ 115.07 Monthly Cost $ 550.38 Monthly Cost $ 500.01 Annual Cost $ 6,604.61 Annual Cost $ 6,000.15 =================================== ===================================
Most of the miles driven were for business purposes, and I received compensation at various rates through this month. For fuel purchases, I use a credit card that rebates a portion of each purchase (3% for fuel, 1% for all other) against future fuel purchases. The following section backs out business miles, mileage reimbursements, and fuel rebates to calculate how much it cost me to drive each personal-use mile.
Adjusted Personal Cost Adjusted Personal Cost
----------------------------------- ----------------------------------- Business Miles 80,565 Business Miles 80,565 Personal Miles 58,007 Personal Miles 58,007 Mileage Reimbursements $ 30,755.61 Mileage Reimbursements $ 30,755.61 Fuel Rebates $ 2,340.78 Fuel Rebates $ 2,340.78 "Out of pocket" costs $ 19,776.68 "Out of pocket" costs $ 14,937.72 Personal use per mile $ 0.3409 Personal use per mile $ 0.2575 =================================== ===================================
So I got to drive this car for eight years / 138K miles, and my total out of pocket costs are less than $20K.
Cheap thrills, daddy-o!
- Max - ======= Political correctness is a doctrine, fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a turd by the clean end.