Costs of Owning a Car

PULSEofdaNATION

PULSEofdaNATION

Member
Alright so I am currently a freshman in college and looking to invest in my first car.

My dad told me before he will let me pursue this, he wants me to look into how much it is going to cost me to own the car for 3 years.

So far I have looked at different costs such as maintenance, gas, documentation (such as tabs), and I am still looking into insurance costs.

Is there anything that I seem to be missing/do you have any numbers as far as how much it has costed you to own a car so I can compare my figures/

Thanks for the help.
 
ive had to do this before. the trick is to imagine every cost over a 5 year period. that includes tyres, servicing, petrol (depending on how many miles you drive), assume a crash or two so put something in for that, insurance premiums, assume something will go wrong like a busted muffler so allow some cash for that, the cost of the actual car, registration etc.
it can all add up but its not that bad. if you realise that in 2 months you'll need new tyres you can just save up for it. as long as you have some spare cash in the bank youll be able to afford the insurance excess if you have a prang.
then there's depreciation. you can buy a car and sell it in 5 years but the most economical way to own a car (as frustrating as it might be) is to own it forever and run it into the ground. the repair costs will never be more than a new car. not for 20 years anyway.
 
probably just an issue of semantics, but hte first step to going over the financials of 'investing' in a car is to never see a car as an investment. that said, you live in washington. you ski. the obvious answer here is mid-90's subaru, with the 2.2 litre engine, and ideally a 5 speed. my brother has a 95 legacy LS with close to 300k miles on it and he absolutely abuses the shit out of the thing. get a set of steelies and some good snow/studded tires, and nothing will stop you from getting to the mountain on a pow day, and aside from spark plugs (huge pain to change), they're super easy and cheap to maintain/repair. AWD will usually give you a discount on your insurance as well.
 
Insurance - 120 bucks a month

Gas - 40 to 60 a month

Maintenance ie. oil, etc. - 100 bucks every 6 months

Repairs - depends on how reliable your car is.

tabs - its like 25 bucks a year?

title costs right away - like 50 i think.

those are the costs for me..

insurance can be a lot lower if you have a good driving record.
 
J.E.E.PJust Empty Every Pocket.sadly its true.i have a jeep wrangler something breaks every 6 months and its usually something expensive, but it doesn't help i use as my rock crawler and DD but i grenaded my carrier in the rear axle which messed up alot of stuff in there, 1000 bucks later new rear axle housing and every component its fixed.
 
just buy a bike and your costs will be greatly reduced. no gas, no insurance, very little costly maintenance (most can be done yourself) no taxes no registration fees or inspection fees. It's 50 times more affordable for anyone. plus you get a good workout whenever you want to go someplace.

 
or buy a cheap 5 thousand dollar car and use and abuse the shit out of that thing. Much better than dropping a ton more for a newer car
 
Interesting. My Wrangler has been amazing. If I ever break something, it's been really cheap to replace. The car has no electronics whatsoever, either. It's basically a metal tub. The front bumper is actually a piece of steel..when I plowed into an Audi A6 last fall (don't text and drive, kiddies), the only damage to my car was like $50 to reattach a fog light. The Audi was totaled.
 
Ownership cost of a car will almost always be more than you think, never spend your whole budget on a car keep money for repairs etc.
If you are concerned about cost buy an asian car, preferably honda or toyota. European cars almost always will cost you an arm and a leg one way or another and american cars are pretty "meh" overall.
Good luck to you
 
haha you silly aussies.

sersly though, owning a car is a fucking money pit. i wouldn't live without one but fuck do they drain the bank account. whatever estimate you come up with at 50% and that might be the lower end on what you pay.
 
i'm 20. a college kid. picked up my car off craigslist for 400 bucks. its only broke down on my twice in the year i've owned it.

its a 97 small two door, 4 cylinder, 5 speed manual. quite a few older small cars like that get 30-40 miles to the gallon.

 
lowest i have got is 33. the best i've gotten was 45. its usually around 38.

i calculate it almost every time i get gas. just cuz i'm curious like that.
 
plan on leaving more money aside for gas just in case you drive more often and your car doesnt get the best mpg's.
 
id kill to spend that little. im about 70but a WEEK. but gas is more in canada i guess too

but dude, owning a car is cake. iv never understood my friends who never had cars in high school, and still dont in uni. even with them NOT having cars they were always broke and i always drove them around (for free mostly) Sure i drove a 93 dodge grand caravan throughout high school but i always had a full tank of gas, good breaks, good tires, a separate set of winter wheels.

it also had an awesome sound system and the back seat folded down into a bed with an inflatable air mattress /claim.
 
OP.
you need to give us more information before we can give you a cost estimate.
what kind of car are you looking at? leasing or buying? what is your price range?is is strictly a commuter? car. truck, suv? what about power or performance?perceived reliability, and cost/accessibility of parts?
all of these (and many more) are contributing factors to how much money your vehicle will cost you.
if you want accurate answers, give us accurate info.
 
i mean there are brakes and tires also.
but lets be real. your cars main expenses should be stereo and rims.

you want the bitches don't you?

 
The price of a car can add up pretty quick, and its more or less all unavoidable costs. You just cant, not buy gas, and necessary parts. This is NS so im gonna throw this out there, if you are to buy a 90's subaru, go ahead and mark another 1000$ to total of that car, because if it hasnt already, you will blow the head gasket... 50% of the time, it happens everytime.

if you decide to get a bike

DONT FORGET TO GET PEGS TO GIVE RIDES TO THE LADIES.

Pegs-15$

 
alright so im 23 and own my own car- 2001 subaru legacy. Nothing fancy, but kick ass car. My parents bought it for me freshman year in college used for about $6k (awesome deal, only had 35,000 miles) so that was awesome. They were nice enough to help me pay for it through college, but now I moved to california and have a good job so am on my own. Heres a breakdown of what i pay-
gas- about $40 for a tank around 325 miles or so worth (13 gallons)insurance- 6 month premium- $700 (insurance is mad expensive)street parking permit- $100 because i live in san franciscooil change- $30ish (x3 or so)transmission fluid and clean after driving from new hampshire to san francisco- $75San Francisco parking ticket- $50
now, what owns me- REPAIRS within the past year-new driving console- $1,000break pads- $300some random sensor- $200new window after somebody smashed it to steal my NOTEBOOK (wtf???)- $250
costs in the past-new tires- $400new exhaust pipe- $40break pads (again)- $300
so, just for one year, lets say i get gas 20 times throuhgout the year so $800...
grand total of about $4,200 in one year. I don't even drive a nice car
I hope you have a good job!!!!
 
its that rubber thing that goes on each wheel. you fill it with air and it provides grip with the road. they are susceptible to punctures though, so you have to change the wheel over on the side of the road sometimes. some well known brands are continental, dunlop, goodyear, bridgestone, michelin and pirelli.
 
Fuck thats what im missing on my car. I knew something was wrong. I guess Ill go buy some TIRES tomorrow.
 
most people forget how wear and tear affects the price per month

my simple formula

(buying price - selling price)/months owned

there are value charts provided by AAA or so

+

gas per month

+

average repair cost per month

a little harder to estimate, depends on brand/age/etc...

+

insurance per month

=

COST PER MONTH

the austrian car club did such a study with detailed average repair costs, gas costs (for like 13,000 miles per year) and depreciation costs. the monthly costs were quite high, something around 300-500 €. ok, gas is more expensive over here, but still a lot of money. AND the biggest factor is the depreciation. if you get a used but solid car from a quality brand, you can cut your costs down a lot. buying a new car is very expensive, since the second you bring a license plate on, its value sinks by about 10-20%.

and yes, i am a econonomics student
 
Nope. I costs 75 to fill up my car (big tank and premium gas) and I have to fill it every week/week and a half. The joys of owning a Mercedes.
 
cars are expensive as fuck i just had a 900$ service it wont have to happen for another 100,000 km but theres alot inbetween that aswell and i have parking tickets from halifax to bc
 
not to be a jerk. but you could've cut down a lot of your costs.

oil changes? should only cost you 15 bucks and an hour of your time.

break pads? should not have cost 300 dollars? you buy those for 30 and replace them yourself in a hour also.

some random sensor? probably an oxygen sensor. which doesnt do anything to your car except make car shops money.

and tires shouldnt have to cost you 400 bucks. you can look around and find used ones that have good tread on them for 130 installed.

so what i'm saying is. if you take some time to do things yourself, you will save A LOT of money. instead of seeing the check engine light on and taking it to shop. take it to a auto parts store, have them scan it and figure it out yourself.

will save you a lot.
 
You must log in or register to reply here.
Back
Top