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> I don’t think it’s anywhere near $950 unless I’m mathing wrong. I don’t know how you’re mathing but the AAA yearly TCO study mostly agrees with @kibwen. htt

• throwaway894345 5y ago
  That study is looking at new cars, not the average US TCO.
  • dahart 5y ago
    Sure, but wasn’t your objection based on spreading out the car payment over the lifetime of the vehicle? That’s what the AAA study shows. Depreciation and maintenance and length of life factors are going to bring the differences between new cars and used cars close together. Some of the TCO costs don’t depend on new vs used (fuel, insurance, taxes & fees) Edmunds has a TCO calculator for used cars. https://www.edmunds.com/tco.html https://www.edmunds.com/tco.html It doesn’t seem that far off from AAA’s numbers for car models that are less than 10 years old (which is the majority of used car sales).
    • throwaway894345 5y ago
      > Sure, but wasn’t your objection based on spreading out the car payment over the lifetime of the vehicle? That’s what the AAA study shows. Depreciation is non-linear, so if you buy a used car your $/mile will be lower than buying new. Regarding that Edmunds calculator, I’m guessing it’s taking into consideration the chip-shortage-inflated cost of used cars (42% higher on average than 2019 figures).
      • dahart 5y ago
        Yes, depreciation is non-linear. Used car lifetimes are also shorter, so used car purchase expenditure averages out to a higher per year percent of the purchase price than with a new car. > 42% higher on average than 2019 figures Are you saying that your skepticism is justified now because you were right 3 years ago?
        • throwaway894345 5y ago
          > Are you saying that your skepticism is justified now because you were right 3 years ago? I'm saying it doesn't make sense to make generalizations based on anomalous figures. > Yes, depreciation is non-linear. Used car lifetimes are also shorter, so used car purchase expenditure averages out to a higher per year percent of the purchase price than with a new car. Right, that's what "non-linear" refers to here. A car that's already 20% of the way through its lifetime has already depreciated by 50%. So you only pay 50% but get 80% of the miles.
          • dahart 5y ago
            We don’t know it’s anomalous yet; that’s speculation. In any case, today’s prices are today’s prices, and they support the top comment’s numbers.
            • throwaway894345 5y ago
              It’s really not speculation. Much has been written about the chip shortage and the automotive market. You’re welcome to read up on it. There may be some disagreement about whether prices will return to normal in late 2022 vs sometime in 2023, but economists pretty much all agree that the current situation is abnormal and they will decrease.
              • dahart 5y ago
                It really is speculation because the prices haven’t returned to earlier yet. Abnormal isn’t the same thing as anomalous.
                • throwaway894345 5y ago
                  I humbly submit that you consult a dictionary before engaging in this type of semantic pedantry.
                  • 5y ago