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in fairness to you an hawaiianbrah I'll admit that the $10k is pretty close to an upper limit on that one... any maybe rounded up as well. So my napkin calcula
by alexc05 10y ago
in fairness to you an hawaiianbrah I'll admit that the $10k is pretty close to an upper limit on that one... any maybe rounded up as well.
So my napkin calculation was roughly $30k for the base auto, financed at $500/month for 5 years. $1000/year on insurance and $50/week on gas.
$500 * 12 = $6000
$50 * 52 = $2600
+$1000
total = $9600
In the above calculation there's $0 spent on service & $0 on financing interest. The theory is that as age goes up, the annual repair cost increases as well.
I think there's also a bit of a confound in the fact that I'm operating in Canadian dollars where my numbers might be inflated... as well, I haven't owned a car myself since somewhere around 2005.
My payment at the time was $450 on a Mazda 5.
All said and done though $5k to $10k is not a wildly unreasonable range. Which I think we were generally agreeing on.
- ska 10y agoYes, we agree. Plenty of people are paying more - the depreciation and finance cost on a nice new german sedan is already getting you up there.