"functionoverfashion" (functionoverfashion)
10/07/2015 at 12:20 • Filed to: None
2
38|
"functionoverfashion" (functionoverfashion)
10/07/2015 at 12:20 • Filed to: None | 2
| 38 |
In thinking about Tavarish’s post about how much you are willing to spend maintaining an older car vs. buying a new(er) one, I wondered something: How many of you calculate the true cost to own your car. For example, I keep a spreadsheet on maintenance costs. In addition, it has a section that calculates total monthly costs including everything like insurance, registration, oil, tires, and depreciation based on my estimated current market value. This gives me a TRUE monthly “cost to own,” and I can compare that against a new car which would have fewer issues, but a guaranteed monthly cost, in addition to higher registration and insurance costs.
Does anyone else do this insanity?
CalzoneGolem
> functionoverfashion
10/07/2015 at 12:25 |
|
No, I keep repairing a car until it is taken from me or explodes all over a parking lot.
MasterMario - Keeper of the V8s
> functionoverfashion
10/07/2015 at 12:30 |
|
Sort of. I keep all my receipts and track all the work I’ve done, but I don’t add up the costs exactly. As long as I only spend a few hundred here or there fixing it, I have no issue with that. If I start spending that on a monthly basis, then it’s time to retire that car (or if a repair costs more than the car it self)
BloodlessWeevil
> functionoverfashion
10/07/2015 at 12:32 |
|
I keep a logbook of maintenance, repairs, and anything else I think is important enough to mention. I do not track insurance, registration, or gas in the context of monthly “cost to own,” but they are included in my monthly budget spreadsheet.
JGrabowMSt
> functionoverfashion
10/07/2015 at 12:34 |
|
I have a spreadsheet for both cars. Sometimes I’m a bit late on getting numbers into it, but I can tell you I’ve spent more money than I’m willing to admit on my cars, but despite the stress and downtime I’ve had to put up with, I enjoy them both too much to consider getting rid of either one.
The spreadsheet is really for gas mileage and oil changes though, I don’t total things up because I don’t want to know. I have a pretty good idea though based on what my bank account was a year ago and what it is now.
Chairman Kaga
> functionoverfashion
10/07/2015 at 12:45 |
|
We broke down all of the repairs to my wife’s old Camry, including the value of our time having to deal with them, and also considered the mental anguish of knowing our car could simply stop working at any moment, and decided to replace it with a brand new one.
Just looking at the money we still weren’t even within $100 a month of what we’re now paying on the note, but it’s that other stuff, the issues that you can’t exactly assign a dollar figure to, that really pushed us into the new car market.
duurtlang
> functionoverfashion
10/07/2015 at 12:46 |
|
I do, but only grossly. So I know how much I’ve roughly spent on maintenance and repairs on my car since I own it (~
€2500 for 3 years
and 93k km), I can guess depreciation (~€1000/3 years) and I know fuel costs (€0.06 a km or €1800/year at 30k a year), insurance (€300/year) and the simply insane tax (€1150).
Any
new
car would be more expensive, and the ones that come close in costs don’t even come close when it comes to comfort/style/speed/fun to drive-ness.
cazzyodo
> functionoverfashion
10/07/2015 at 12:52 |
|
I did this when projecting my 5 year cost to own before purchasing. I track my fuel purchases (started after a couple months so data is missing). I keep my maintenance receipts (really just routine stuff) but may have actually lost it in my recent move...womp womp.
I figure I can get my maintenance record sometime since all the work was at a specific dealership and I’ll keep on the gas portion.
Scott
> functionoverfashion
10/07/2015 at 12:52 |
|
Yes and no, I use quickbooks to manage all my finances. For major assets you can link all your expenses to that asset. I do have my houses and cars listed out as assets, and I can see a total cost of ownership. I can also depreciate (or appreciate) the value so I can see when it has gone down in value so much that selling it I will likely get my money back out. For my properties I am definitely interested in keeping track of all my expenses. Also making value adjustments are important there.
For my cars I really do not care as much. I buy cars either because of their usefulness, my trucks and daily drivers for commuting. Or I buy them for passion. The finances have little to do with it, I partially write off the expenses of my trucks and their ability to do work justifies most of the expense. To the degree I look at expenses it is out of curiosity or to evaluate if repairs are becoming too costly or frequent. For vehicles I buy out of passion, it’s mostly out of curiosity and if I love it and it costs me money that’s ok.
I have been thinking about buying some cars purely as project cars that I would likely sell pretty quickly, and if I do that I would definitely treat it more as an investment and keep closer watch over expenses. But even there I would be mostly doing it for the enjoyment of working on them, and money made would just be a bonus.
|
functionoverfashion
> Chairman Kaga
10/07/2015 at 12:55 |
|
Interesting, because I am doing fewer of my own repairs now as I have less free time (kids), but I’m still way ahead. But you’re right, that if we had a few breakdowns with our current pickup/dropoff/work schedules with our kids, we’d be looking very hard at the “cost” of that inconvenience.
K-Roll-PorscheTamer
> functionoverfashion
10/07/2015 at 12:55 |
|
Kinda sorta. In terms of service and parts, I haven’t even spent $1000 on my 944 over the almost 6000 miles I’ve driven it in the almost year I’ve had it. What does this mean? My new ST cost me more overall in the year 1/2 and 18k miles I’ve had it than my 944. Used cars are best cars!!
ESSSIX GmbH - Accountant/Wagon Thumper
> functionoverfashion
10/07/2015 at 12:57 |
|
No. I love what I drive, and I’ll keep it forever, or until some one hits it and insurance instantly totals it. And if that ever happens I’ll just buy another, they’re plenty cheap (sedans mainly) And they do all the right things. Granted the fact that it has an AK-47 level of reliability is really why Id keep it. Also it has no Traction control, its Drive by wire, and, most importantly, its got 3 peddles.
If you like what you drive you will always keep it alive. (doubles as relationship advice)
|
functionoverfashion
> duurtlang
10/07/2015 at 13:00 |
|
Any new car would be more expensive, and the ones that come close in costs don’t even come close when it comes to comfort/style/speed/fun to drive-ness.
This. This is why I drive a 12-year-old BMW and maintain it diligently. It’s just as reliable as a new car (read: never breaks down), and I love it. And it’s cheaper than a new Civic,
I have done the math.
|
functionoverfashion
> BloodlessWeevil
10/07/2015 at 13:02 |
|
A maintnenace log is also a nice thing to hand over to a future owner. I was able to sell my 2001 BMW on CL with 200k miles with a nice thorough list of maintenance down to light bulbs and wiper blades.
|
functionoverfashion
> JGrabowMSt
10/07/2015 at 13:03 |
|
It’s still a nice thing to hand over to (or show) a future owner, with or without $$ totals. This has really helped me selling my cars on CL.
|
functionoverfashion
> CalzoneGolem
10/07/2015 at 13:04 |
|
Haha, on the other hand, I chose to sell my last BMW at a point in its life where it had exactly zero problems, at about 202k miles. Precisely to cash in while it still had good value and didn’t have a “just needs...” list. But I’m transporting two little kids in my car every day, so I have a different view of breakdowns.
Manwich - now Keto-Friendly
> functionoverfashion
10/07/2015 at 13:06 |
|
I do it as well.
I do it to compare cars before I buy them and also compare new vs used.
Used always wins. I want a new car, I just don’t want to pay for it.
What I would save in repair costs would be greatly outweighed by the lease payment/depreciation and higher insurance.
I also use this info to explain to people who have never owned cars, the *true* cost of owning a car and why people who live in the suburbs and commute long distances are often perpetually broke in spite of “saving money” on a “more affordable” house in the suburbs.
They didn’t factor in the cost of commuting or the cost of the extra cars they would need.
I also use the data to dispell any notions someone may have that driving can be cheaper than things like taking public transit or riding a bicycle.
|
functionoverfashion
> cazzyodo
10/07/2015 at 13:07 |
|
I actually use a google doc spreadsheet, so it’s even harder to lose than a file on my computer. I keep a tab on each car, and one for each other thing like boat, lawn mower, weed whacker, really anything with an engine and serial number and various moving parts. That way I can easily find the model/serial # when ordering parts, and/or see what part # I ordered last time, that type of thing.
|
functionoverfashion
> ESSSIX GmbH - Accountant/Wagon Thumper
10/07/2015 at 13:09 |
|
What is it that you drive? I’m starting to feel that way about my current (and past) car, and I actively look for good examples in case a really nice one comes up for sale nearby. That’s how I ended up with the one I have now!
|
JGrabowMSt
> functionoverfashion
10/07/2015 at 13:16 |
|
Yes. While I don’t plan to sell either right now, the future can hold very different plans. With that in mind, I made sure that I had the info centralized. For specific shop work, I do scan and save a PDF of the invoice as well. When it’s something I do, I try to keep up on recording the mileage and other info. Sometimes I miss it, but the HEMIWagon especially has to get kept up on maintenance because the motor is brand new. Barely 12k miles on it.
The SL surprisingly hasn’t been too bad, but it’s nice to keep an eye on the gas mileage for longer trips. I’ve been driving it way more than I wanted to this year, but that isn’t always a bad thing. It’s very up on maintenance, and I’ll be doing some paint work soon to make it look as good as it runs.
deekster_caddy
> functionoverfashion
10/07/2015 at 13:20 |
|
I keep track of gas fillups, but that’s it. Everything else I keep in my head. No wonder I can’t remember where I put that wrench down...
|
Manwich - now Keto-Friendly
> K-Roll-PorscheTamer
10/07/2015 at 13:24 |
|
But assuming you only spent $900 on the Porsche and $2000 on the ST, it also means the service/parts cost is currently at $0.15/mile for the Porsche and only $0.11/mile on the ST.
Basically the Porsche only stays affordable if you don’t drive it much. If you drive it a lot, it’ll cost you...
|
ESSSIX GmbH - Accountant/Wagon Thumper
> functionoverfashion
10/07/2015 at 13:27 |
|
1995 Audi S6 Avant. 2.2 I5 turbo.
|
K-Roll-PorscheTamer
> Manwich - now Keto-Friendly
10/07/2015 at 13:27 |
|
I was also counting monthly payments on the ST.
|
Manwich - now Keto-Friendly
> Scott
10/07/2015 at 13:28 |
|
Before you decide to get a “cheap” project car, I suggest you read up on StudyStudyStudy’s experiences that start and end here (23 parts... so far):
http://oppositelock.kinja.com/what-it-cost-m…
http://oppositelock.kinja.com/what-it-cost-t…
|
Manwich - now Keto-Friendly
> K-Roll-PorscheTamer
10/07/2015 at 13:30 |
|
Ah yes... that almost always makes a used car look better. And it’s why I have never bought a new car in my life... yet. Though I may reward myself when my mortage is paid off.
|
cazzyodo
> functionoverfashion
10/07/2015 at 13:49 |
|
Oh, mine’s on Google Drive, too. I just am pretty sporadic about updating so my gas stops get noted on Keep until I fill in the blanks. I didn’t think about maintenance recording until I was too far behind the 8 ball, though.
|
Scott
> Manwich - now Keto-Friendly
10/07/2015 at 13:58 |
|
Thanks for the links. I have so far only browsed over the 2 links you provided... looks like some good reading when I have more time. That said, not really the kind of project car I had in mind. Although I have dreamed of such projects, I do know very well how much they can suck up money. (I'm sure most of us could fill up a dozen pages here with such open ended dreams, I know I could... luckily I am smart enough not to)
I’m thinking more like what Wheeler Dealer does, only my goal is more to satisfy my love of working on things... and learn some things about different cars in the process. I’m not really doing it to make money, but I am hoping that I’ll come out ahead more often then not. I’m not looking to keep the cars for very long, although some I may keep some a little while.
Also I do have a good friend that makes some extra income doing pretty close to what I have in mind. Although he does less work than I have in mind and tends to search out excellent deals more then cars that need work. So I do have some help to keep my plans grounded... I hope.
|
functionoverfashion
> ESSSIX GmbH - Accountant/Wagon Thumper
10/07/2015 at 14:02 |
|
Nice, I wouldn’t get rid of that either. And that’s not what most people think of when they hear “reliable,” but then nor is my car (2003 BMW). It’s all about proper maintenance...
|
functionoverfashion
> cazzyodo
10/07/2015 at 14:06 |
|
Funny, gas is the one thing I don’t keep track of. Partly, I now only drive under 10k miles a year, and I need a big-ish car for family reasons so fuel economy just isn’t a huge concern. I don’t drive a 3/4 ton suburban with an 8.1 so I’m just going to gloss over fuel as about the same across any car that might meet my current needs. The reason I include tires is that there is so much variation in tire prices and service life.
|
cazzyodo
> functionoverfashion
10/07/2015 at 14:11 |
|
I include tires as well. I don’t know why I started with gas, to be honest, but the tires was done so I would know how many miles are on each set. This will be my third year with my car and my commute has changed quite a bit and I’ll be able to chart it...cuz I’m weird like that.
|
Manwich - now Keto-Friendly
> Scott
10/07/2015 at 14:13 |
|
Yeah... but with those two links (and everything in between), you can get a good idea of the kind of surprises you may encounter... and more importantly, what you can do about them even if you’re not experienced.
And also read up on what Tavarish does when he preps cars for sale.
Wrong Wheel Drive (41%)
> functionoverfashion
10/07/2015 at 14:26 |
|
I generally consider any expenditure made for something car related to not even be an "expense" at all. Including gas. Sure maintenance costs add up, but those will be there no matter what car I own. As long as the same parts aren't going all the time, there are only so many parts to replace before everything is new lol. Of course I have not owned a car which likes to grenade transmissions or something, so it has not been a big deal to just ignore maintenance costs.
Mr. Ontop, No Strokes, No Smokes...Goes Fast.
> Chairman Kaga
10/07/2015 at 14:40 |
|
That is pretty much exactly why we bought new cars a couple of years ago too.
|
Mr. Ontop, No Strokes, No Smokes...Goes Fast.
> CalzoneGolem
10/07/2015 at 14:41 |
|
We bought new, but what you describe is exactly how long we plan on keeping ours as well.
|
CalzoneGolem
> Mr. Ontop, No Strokes, No Smokes...Goes Fast.
10/07/2015 at 14:50 |
|
We bought the wife-mobile new and will probably treat it the same way. Actually I can see it becoming a first car for our twelve year old in four or five more years.
|
Mr. Ontop, No Strokes, No Smokes...Goes Fast.
> CalzoneGolem
10/07/2015 at 15:40 |
|
That’s the plan for us as well. I think once I don’t have to drop them off at school everyday I’m going to switch over to a motorcycle.
|
ESSSIX GmbH - Accountant/Wagon Thumper
> functionoverfashion
10/07/2015 at 16:51 |
|
Yea, they’re know for their hardiness, (think porsche back in the day) but the Ur-S4/S6 arent all that common. Its been good to me, 270k with original turbo, and its given me less problems then my old 2001 S4 avant. The germans were paying more attention back in the 90s. The only thing that fails are the stupid little plastic bits that dont matter. (I keep a box of replacement of just about everything though)
|
functionoverfashion
> K-Roll-PorscheTamer
10/07/2015 at 22:48 |
|
It’s funny, I think I’ve spent about $1000 total on maintenance on my 1972 ford pickup, since 2007. That’s a bit of an exception. ...