2020 parts cost inreview, exec summary 5 cents per mile

Post by **scot850** » 22 Dec 2020, 16:42

When you get to over $25k then start worrying!! LoL

Neil.

Post by **abscate** » 23 Dec 2020, 04:44

volvolugnut wrote: 22 Dec 2020, 15:13 If I am truly honest, I do not treat my vehicles with traditional cost/benefit analysis. I enjoy owning and maintaining them even when I am not driving them. But, I am also concerned that I may appear foolish for spending too much on an older vehicle others would abandon. My vehicle decisions are often emotional rather than analytical.
volvolugnut

I , too, am emotionally attached to all mine beyond financial reason. However, we are choosing the most cost effective way to own and run these , arguably. I did move to a model of moving insurance from non runners to runner if I anticipated them being off road for more than 12 weeks. My man Beetle has been off for a year, and I’ll move the T5 off while I deal with the PS rack, I might just take it out amd rebuild it myself for $50 vs $350 part, same labor

I even have a new to me 1999 Nautic Blue Wagon to transfer plates to.....

Post by **pgill** » 23 Dec 2020, 11:35

5 Cents per mile is amazing.

Thanks for pointing out that on a new car depreciation cost is extremely high. (I've been trying to explain this to my wife and kids)

Right now I also own 5 cars with the oldest being almost 13 years old. (5 cars and 5 drivers to be exact)

And I plan to keep these same 5 cars for the next 10 years.

The insurance that I have is pay per mile

My 2010 S80 3.2 cost $31/month + 5.7 cents per mile

The nice thing about the pay per mile insurance is that the cost goes down automatically if you drive less.

Note: this is in California, I don't know if this insurance is available in New York.

Take care

Paul

Post by **abscate** » 24 Dec 2020, 04:47

1. Your depreciation cost this year per mile

Value of your car Jan 1 - value of car Dec 31. / miles driven this year

B. Total depreciation to date per mile )

( Price Paid for car - value of car)/ total Miles driven

iii) true cost of acquition per mile*

2020 value of purchase price / total miles driven

* This one is ugly, hide the children. The good news is if you pay a financial advisor to manage your money your true cost of acquisition goes down!