What did your previous vehicle cost you?

[Bedlam]

I recently sold my 2005 F250 and wanted to see what the vehicle actually cost me, so I added up purchase price, upgrades, service, repairs, wear items, insurance and registration then subtracted the selling price. The only other expenses I had was fuel which I kept out of the calculations. I figured this was cost for me to own the vehicle with depreciation (purchased new) and came up with $325 month. Does anyone else do this or am I the only one?

[dedbird]

I just traded in my 2004 Dmax/Allison on a Silverado with the tow package.

I kept every bill from new. It kinda gave me justice to pull the trigger.

Including oil changes, tires, everything $14,980.00

Always dealer serviced. The truck had 249k/kms

[Bedlam]

This thread is not about discouraging anyone from their passion or interests. It's about what a vehicle really cost you over the length of your ownership. I know some people would rather not add up what their chosen lifestyle costs, but I like to look at how fast I am burning through money compared to what I bring in and how much enjoyment I get out of that self-built bonfire. If you indulge in a hobby where you are constantly worried about the cost, you need to reorganize your priorities because you are missing out on the enjoyment.

I cannot afford to finance fun because the end cost is too much for what I earn. For me to replace/buy toys or vacation requires saving until I have available funds. My latest vehicle required ten years of saving (making payments to myself). Not having to pay someone else interest for a purchase has allowed me to travel more and pay off debts. As I mentioned before, these calculations are about the balance between work and life. Each person tips the scales a little differently.

[4x4ord]

My current truck is costing me about $420/month for depreciation insurance and repairs.

[Paul_Clancy]

The real cost of the Rv lifestyle can be quite high. So is eating out regularly and booze and drugs and many other optional persuits I'm not interested in. We all make choices and identify what it is that keeps us going. I mostly feel increadibly lucky to be able to do the Rv thing as a hobby. Knowing what it costs would only mean I'd have to compare that against flights car rental and motel and I'm pretty sure it is more. But I also get more out of it. Much more. Sitting at home wishing I'd done something is not an option.

[Artum_Snowbird]

Sounds pretty reasonable, really, but you forgot the price of a new one added in there. So, you paid out that much, but then from the old purchase price to the new purchase price you add that in too.. Almost 120 months.. at 250 a month.. thats up only $3000 a year.

Mind you, you also have to include your ability to pay the inflationary amount, maybe that compensates for the new price somewhat.

[Fast_Mopar]

Bedlam wrote:
Does anyone else do this or am I the only one?

You are the only one.

[ib516]

Almost every vehicle on the road is a terrible investment. They depreciate, cost money to maintain, and are expensive to buy.

You're far better off taking $10, $20, or $50k and putting in the bank. But, I don't want to walk 15 miles to work - so I drive. I buy what I want because I can afford it.
🙂

[valhalla360]

Last truck:
- $2500 purchase price
- around $3000 repairs and maintenance.
- Sold for $1700.

Over 5 years and 100k miles, that cost us $3800 or around $65/month (not counting fuel or insurance)

[dewey02]

Bedlam wrote:
I recently sold my 2005 F250 and wanted to see what the vehicle actually cost me, so I added up purchase price, upgrades, service, repairs, wear items, insurance and registration then subtracted the selling price. The only other expenses I had was fuel which I kept out of the calculations. I figured this was cost for me to own the vehicle with depreciation (purchased new) and came up with $325 month. Does anyone else do this or am I the only one?

But what about the cost of your travel trailer ot Fiver? You should factor that in as well.
But personally, I don't want to know what my costs are. They are sunk costs and my 2002 3/4 ton Dodge and 2011 TT take me to places that are priceless.

[midnightsadie]

bought new in 2005 F150 4x4 etc , don,t no the cost ,its out in the barn some where? I do drive it couple K a yr. I looked it up on nada and its still worth a good chunk.

[korbe]

My calculator came up with $327 per month and I still own it.

[john_bet]

Don't know and could really care less. At almost 11 years old and with 177k miles and counting I am not planning on replacing it for a long time yet. Accidents do happen though.

[K_Charles]

I'm at about 21¢ a mile with my '04 excursion. Some people drive only a few months a year so per month doesn't mean much to me. I bought my '47 olds about 25 years ago for $1000 and put on about 2000 miles. Tax and ins are very cheap so I'm at about $50 a year, that doesn't mean anything.

[Bedlam]

Experiencing life is definitely worth the cost, but all of us want to get the most out of life. This may mean having to work less to be able to do more - I'm a firm believer that you can always make more money, but you cannot make more time. So the question always becomes how do I balance the work that will pay for experiences yet not spend all my time making the money.