besides, it's a Ford so I don't work on it very much.
Yeah, I'd early give up on them as well. Law of Diminishing Returns. Good planning to keep several available for contingent use.
As to ownership costs one must project a lifespan both in miles and time. For example, brand-new to 15-years at 15k miles annually.
Only then can cpm be figured accurately. Depreciation hurts more than fuel, and depreciation plus other fixed expenses makes a mockery of fuel economy altogether.
While it is cheap to buy used and turn over at a fixed period it still doesn't work compared a careful analysis and spec'ng a vehicle that one has from new and keeps a verrrry long time. After about 15 to 18-years reliability declines precipitously (earlier on some vehicle brands/models [so acquire several, see above]) thus an accurate cpm also includes the cash purchase of the next vehicle built-in to the "present" cost.
The IRS allows about 50-cpm for business-related driving. If a vehicles cpm meets that -- short of replacement cost -- over 15-yrs/300k then one is ahead, IMO, as that US fleet average tends to be an
accurate offsetting deduction.
It is not a car we need so much, but private personal transportation. As this is an ongoing lifetime need, past and future costs/expenses must be posted in any analysis. One car that we own cannot be separated from any other. Not the junker at age 17 nor the Lexus at age 62. This is
almost a fixed lifetime expense.
Nor can our housing costs be separated from the car as the expense of a home needing a garage cannot be left out, nor -- for the apartment renter -- the even greater dependence on transportation than a homeowner. While this angle does not neatly fit into the auto cpm it is nevertheless the larger backdrop of ones personal economy. That garage is a large fixed expense.
Those who forego one just pay more for any individual car, as well as more cars over a lifetime. Machines need to be stored in weathertight structures for longest life. While off-street covered parking is good, nothing beats a fully enclosed garage for longest life. So just as a home office has it's separable share of
mortgage,utilities, taxes, insurance, etc for tax & income purposes, so does a garage. On a lot large enough to accommodate one (itself another set of problems). And so on.
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