Forum Discussion
jplante4
Jun 08, 2016Explorer II
I've heard that you should put 10% of the purchase price for the first year to cover things deferred and things you want to change/fix. For me, that number was low, but I did a bit of reconfiguration inside. Also, I bought 6 new tires and that was the 10% right there.
In airplanes we used twice the hourly operating cost into the Mx fund, but that needed to cover a replacement engine every 2000 hours or so. That might be a good place to start. At 8 MPG and $2.50 a gallon for fuel, that works out to $40/hour or 32 cents a mile. That sounds reasonable. At the end of the first year, you would have $1300 in the kitty for PM.
In airplanes we used twice the hourly operating cost into the Mx fund, but that needed to cover a replacement engine every 2000 hours or so. That might be a good place to start. At 8 MPG and $2.50 a gallon for fuel, that works out to $40/hour or 32 cents a mile. That sounds reasonable. At the end of the first year, you would have $1300 in the kitty for PM.
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