CosmicRaccoon
CosmicRaccoon
6mo

LTV of owning car - 6 years+

I have seen people argue between owning vs not owning a car. I actually did a full detailed calculation which includes everything from the time I bought the car to when I sold it recently.

Fun Fact: Out of total value of car, I’ve spent 17% on fuel itself. When I mention total value, it includes every cost associated with owning plus running the car.

I’ve owned the car for exactly 6 years 2 months, driven 60K kms. Have got a resale value of 46.5% on the actual cost of car. I’ve spent 58% additional amount relative to the car cost on all the additional stuff which includes fuel, maintenance, insurance, toll, PUC, even bank interest and parking, plus the earnings from Quickride. My running cost/month(post sale of vehicle) comes at 14,666, and running cost/KM(post vehicle sale) comes at 18.06 which I feel is decent enough.

Total Fuel Cost: 2,53,177 Total Maintenance Cost(7 services) - 40,839 Insurance Premiums - 62,039 Quickride Income - 36,621 Parking - 11,580 Toll - 15,100 Interest paid on loan - 82,132

Parts Replacement - 63,980

Right now, can definitely say that the per KM costing comes near-about Uber prices with peace of mind, and freedom from ride cancellations.

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6mo ago
GigglyTaco
GigglyTaco

Which car you had BTW???

CosmicRaccoon
CosmicRaccoon

Had a Ford Ecosport.

GigglyTaco
GigglyTaco

After selling this anything you buy again?

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