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Thread: True Cost to Own?
- 03-09-2011, 04:09 PM #1
Yellow Belt
- Join Date
- Feb 2011
- Posts
- 10
True Cost to Own?
I frequent a website called Edmunds that has a "True Cost to Own" calculator. Has anyone else ever seen this? Has anyone any information on an alternative automotive website that does a similar calculation? I've always been very impressed with Edmunds, but I am interested in seeing a competing website, so I can see an alternative opinion.
For example, on Edmunds, the cheapest 2011 new car you can own is the Hyundai Accent Hatchback (base model) with an MSRP of $9,985 and a "Five Year True Cost to Own" of $29,112. This prices are given based on my zip code, so numbers may vary where you live. I copied the 5Y-TCO table:
Year 1 Year 2 Year 3 Year 4 Year 5 5 Yr Total
Depreciation $2,958 $1,155 $1,016 $900 $808 $6,837
Taxes & Fees $1,130 $171 $156 $143 $132 $1,732
Financing $650 $522 $386 $241 $87 $1,886
Fuel $1,360 $1,401 $1,443 $1,486 $1,531 $7,221
Insurance $1,509 $1,562 $1,616 $1,673 $1,732 $8,092
Maintenance $158 $510 $232 $958 $908 $2,766
Repairs $0 $0 $0 $0 $578 $578
Tax Credit $0 $0
True Cost to Own ® $7,765 $5,321 $4,849 $5,401 $5,776 $29,112
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No, I haven't seen any alternate calculators like that. Maybe we should build one here at CF.org
Cars are money pits though... figures like this remind me how much of my income gets wasted on transportation.
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