Post your year/model/miles per year/COST PER MILE
02-14-2002, 09:54 AM
#1
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Post your year/model/miles per year/COST PER MILE
In analyzing my ownership cost of the two Audis I currently have, I'm finding some things out that might be interesting to others as well, regarding actual costs of ownership.
Let's start with my '96 A6Q. I've had it 19 months now, and once I add up EVERYTHING (loan payments with interest, maintenance, etc etc etc) the per mile cost works out to right around $0.32 per mile since I've driven it 1,790 miles per month average over 19 months.
For my 100CS, after 40 months of ownership, the per mile cost is $0.27 ... If I drive it another year, that number will sink to $0.20-$0.21 per mile, and decrease as time goes on, since I'm not paying on a loan anymore.
<b>How I calculated cost per mile:</b>
Start with total cost of the loan. Multiply monthly payments by loan term (or if you are still paying, multiply by the number of months you have paid so far).
Then, add all maintenance and upkeep costs. Service? Tires? Oil changes? Brakes? Wiper blades? Washer fluid? It all adds up. EXCLUDE gas and insurance.
Total those two numbers up. Say you've had your car for 2 years, have it on a 4 year loan at $475 per month (original amount of $20,000, say). You've also spent $1,200 on maintenance and upkeep.
$475 x 24 = $11,400
Maintenance = $1,200
<b>Total out of pocket after 24 months = $12,600</b>
Current loan balance = $13,370
Now, estimate the current value of your car. Say you bought it for $20,000 two years ago, and it's worth $14,000 now. Use <a href="http://www.edmunds.com">Edmunds.com</a> private party value.
That gives you $630 in equity.
Now, take that total out of pocket cost from above, and subtract your equity from that.
In this case, we get <b>$11,970</b> as a TOTAL COST for 24 months of ownership. Divide by 24 and you get $498.75 per month.
Now, take the TOTAL number of miles YOU have driven the car. Say it's 30,000 over two years (1,250 per month).
Now, take your total monthly cost, and divide by your monthly miles.
<b>$498.75 / 1,250 = $0.399 Per Mile</b>
---
I'm sure you can figure this out, but <b>if you lease...</b>
Take the total lease amount, and divide by the total miles. Say it's $600/month for 36 months. That's $21,600 PLUS up front expense of $2,000, for example. Total $23,600. Total miles of 50,000... total per mile = $0.472.
Feel free to post your own cost per mile estimates using the method I posted above...
Remember this excludes gas and insurance. Let me know if I'm forgetting something obvious.
Let's start with my '96 A6Q. I've had it 19 months now, and once I add up EVERYTHING (loan payments with interest, maintenance, etc etc etc) the per mile cost works out to right around $0.32 per mile since I've driven it 1,790 miles per month average over 19 months.
For my 100CS, after 40 months of ownership, the per mile cost is $0.27 ... If I drive it another year, that number will sink to $0.20-$0.21 per mile, and decrease as time goes on, since I'm not paying on a loan anymore.
<b>How I calculated cost per mile:</b>
Start with total cost of the loan. Multiply monthly payments by loan term (or if you are still paying, multiply by the number of months you have paid so far).
Then, add all maintenance and upkeep costs. Service? Tires? Oil changes? Brakes? Wiper blades? Washer fluid? It all adds up. EXCLUDE gas and insurance.
Total those two numbers up. Say you've had your car for 2 years, have it on a 4 year loan at $475 per month (original amount of $20,000, say). You've also spent $1,200 on maintenance and upkeep.
$475 x 24 = $11,400
Maintenance = $1,200
<b>Total out of pocket after 24 months = $12,600</b>
Current loan balance = $13,370
Now, estimate the current value of your car. Say you bought it for $20,000 two years ago, and it's worth $14,000 now. Use <a href="http://www.edmunds.com">Edmunds.com</a> private party value.
That gives you $630 in equity.
Now, take that total out of pocket cost from above, and subtract your equity from that.
In this case, we get <b>$11,970</b> as a TOTAL COST for 24 months of ownership. Divide by 24 and you get $498.75 per month.
Now, take the TOTAL number of miles YOU have driven the car. Say it's 30,000 over two years (1,250 per month).
Now, take your total monthly cost, and divide by your monthly miles.
<b>$498.75 / 1,250 = $0.399 Per Mile</b>
---
I'm sure you can figure this out, but <b>if you lease...</b>
Take the total lease amount, and divide by the total miles. Say it's $600/month for 36 months. That's $21,600 PLUS up front expense of $2,000, for example. Total $23,600. Total miles of 50,000... total per mile = $0.472.
Feel free to post your own cost per mile estimates using the method I posted above...
Remember this excludes gas and insurance. Let me know if I'm forgetting something obvious.
02-14-2002, 11:35 AM
#7
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2001 / 4.2 / 15000 / 0 (company pays for lease, gas, insurance) :-)))
Well, it is my company, but it still feels like a nice fat ofer each month.
And the deductions (I very, very rarely use it for other than work purposes!) are just fantastic.
And the deductions (I very, very rarely use it for other than work purposes!) are just fantastic.
