Quote:
Originally Posted by Old Mechanic
When you consider a Leaf (I did) and ignore the total cost of ownership, You're only fooling yourself. Even without financing cost, taxes, insurance, and depreciation costs are staggering.
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What I do is figure the total miles the car should go (300,000mi), subtract the miles on it when bought from that (-144,000=156,000), divide that by how far it will be drove in a year (156,000/15,000=10.4) that is the approx. number of years the car will last without a new engine or something like that, divide the asking price by the number of years it will last ($6700/10.4=$644yr), you may want to add the cost of a battery pack if a hybrid/EV ($8200/10.4=$788yr), there is the annual cost of the car only, that is all I count as newer cars will have higher taxes, older cars will have higher upkeep, so it evens out. (maybe?)
Now add up the cost of gas for the year, with the average est. fuel price for the life of the car (15,000mi/50mpg=300gal.*$3.50gal=$1050yr)that is the fuel cost.
Now add the two together ($788+$1050=$1838yr