3 ms·
If you are spending $10,000 on your car per year you are making an extraordinarily bad financial decision.
by sentientslug 3y ago
If you are spending $10,000 on your car per year you are making an extraordinarily bad financial decision.
- vkou 3y agoParking, toll roads, tabs, gasoline, insurance, interest payments, maintenance, depreciation will all happily run up to that amount for a new car, and to $6,000 for an old car. The IRS mileage deductible rate is 65 cents/mile, and it's pretty close to operational cost of a vehicle. Parking and tolls and 10,000 miles a year will easily get you to these numbers. Some call this freedom, but I call this a financial millstone around your neck. ----- (Not to mention the mountains of public[1] and private money that get spent on automobile infrastructure, parking offsets, etc, etc.) [1] Most of which comes from the general tax fund...
- vGPU 3y agoMy car payment alone is almost that much. Then my insurance is also almost that much. Oh, and about $5,000/yr in gas.
- nsvd 3y agoAnecdotally - I bought my car for $7,000 cash, about four years ago. I guess that's about $1,500 a year plus gas and maintenance.
- civilitty 3y ago> My car payment alone is almost that much. Then my insurance is also almost that much. Are you in Europe or the US? My insurance at age 20 with an accident under my belt was under $3,000 a year. My 50k mile Corolla cost less than your annual car payments. > Oh, and about $5,000/yr in gas. That's $100 or two sedan sized tanks every week at US prices. At 30 MPG that's over 30,000 miles a year.
- vGPU 3y agoTry having a family.
- deleted 3y ago[deleted]