Need opinions for my Corolla Cost to own/Cost per mile

Discussion in 'Motorized Vehicles' started by HopelesslyFaithful, Oct 12, 2013.

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  1. HopelesslyFaithful

    HopelesslyFaithful Notebook Virtuoso

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    Hey I could use a few opinions on my cost to own for my 2013 Corolla. I think i got almost all maintenance....minus a few but i guessed on those in a general maintenance cost section. Are their any real notable costs i might be missing? Most numbers i have researched like filters/oil/tires/insurance/cost and so on but if you have a major objection to one of my numbers let me know. I did this in ~ 60 mins so I wasn't trying to be exact. I can work on the fine tuning numbers when i get more time. Also i am curious is lets say from 150k miles to 200k miles do you think I would or wouldn't occur/accrual(???) 3.8k work of repairs or break downs? From what i have figured out so far I am looking at ~3.8k savings from 150k to 200k miles. Though i am unsure if the added risk is worth the "savings". I can get 125k 7 year warranty from Toyota for $940 (from my papers). I thought it was $840 but i must be mistaken. (maybe it was 8 years and not 7 but whatever) I can go almost break down free for 125k miles and i highly doubt my chances of a break down to 150k miles would happen. The chances are real low but going to 200k is a lot different. Also the car is older and more work. Plus newer cars are just nicer. I wonder if the 3.8k-repairs is really even worth bothering assuming i can get a similar good deal. You know time is money as well :)

    https://www.dropbox.com/s/22t2vcekdn08tq1/cost per mile for corolla 2013.xlsx

    If anyone wants to use this for themselves feel free.

    Also as always....truecar.com (awesome!)


    So far i am rocking out a little less than $.30 per mile and that counts $4 per gallon. I think i average ~$3.75 so that is ~1 penny less per mile

    It is definitely the cheapest car per mile :) The new one comes with a CVT transmission (i know saying transmission twice is redundant but someone might forget what CVT is) I bet that solves the 3k RPMs are 75 mph -_-

    mpg:
    75 mph ~28-30
    65 mph ~33-35
    55 mph ~35-40


    gas really tanks because of that crap 4 speed transmission -_- I want the CVT! (assuming they didn't make it crap of course) Anyone have an Elantra that can tell me what you get at 75/85? That thing has ~same engine but a 6 speed. It runs i thought at like 2600 rpm at 75 :/
     
  2. Syndrome

    Syndrome Torque Matters

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    You really need to use bullets to organize. Any of your regular maintenance items will be listed in your cars manual, along with how frequently you should do it, and at what mileage you should do the bigger ones.
     
  3. HopelesslyFaithful

    HopelesslyFaithful Notebook Virtuoso

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    yea like i said i did this in ~60 mins off my head lol. (or were you referring to my post?) I'll add all that info when i get a chance. I am a little bored of this at this moment. I might finish it in class Monday....i normally just read the news and tune out anyways :/

    I'll organize it Monday maybe in like most important to least important.
     
  4. ajkula66

    ajkula66 Courage and Consequence

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    You got me a bit confused here...what *exactly* are you trying to figure out?

    How long to keep the car? Whether it's worth to get the extended warranty? Something else? All of the above?
     
  5. HopelesslyFaithful

    HopelesslyFaithful Notebook Virtuoso

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    i have the warranty...it was a no brainer for the price. I am trying to get a general idea of the true cost of own and per mile costs. I am curious on the likely hood of something breaking between 150k-200k miles. 150k and less is very unlikely to have a break down. 150-200k i am unsure of. According to my rough numbers i would save ~3.8k keeping the car all the way to 200k instead of 150k but i wonder the likely hood of something breaking and making that 3.8k meaningless or not enough to bother with.


    gas is 42% of the cost 12.5 cents per mile and everything minus depreciation is 21 cents per mile so no matter if you keep the car longer or shorter the minimum cost is 21 cents per mile. The actual depreciation affect of the cost per mile is low for a corolla so the question is if keeping the car is really worth while. The longer you keep it more maintenance and break downs occur. You save maybe 1-3 cents a mile the longer you keep the car but that savings is useless if the cost to owning it goes up due to age.

    12.5 gas
    21 for everything minus depreciation and break downs.
    28 vs 30 cents per mile is very small headroom for unexpected costs.
     
  6. ajkula66

    ajkula66 Courage and Consequence

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    Define "break down".

    I own a minivan with 185K and a midsize SUV with 245K. Neither of them has ever "broken down".

    Were they taken in for repairs? Absolutely.

    Were they maintained "above and beyond" the factory requirements? Yes.

    Given that your car is a Toyota, if properly maintained you might as well ride it to 200K or whenever it simply kicks the bucket. I know I would.
     
  7. HopelesslyFaithful

    HopelesslyFaithful Notebook Virtuoso

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    did you check the chart out? Riding it out doesn't save much money. What repairs did you do on those two cars? I have a mere 3.8k headroom for 50k miles at best....probably less.


    Having a 30-40k car has lots of headroom to ride it out to 200k or more....a car that has at best 8 cents per mile of value loss is nothing

    UPDATE: i updated the file with a break down of

    gas per mile
    Maintenance/insurance per mile
    depreciation per mile

    The only thing that changes of course is depreciation and it doesn't change much after 150k but it is a small percentage of the total cost (cheap car) So the savings is very small on keeping it for high miles...plus for whatever reason people pay way to much for used corollas -_- The KBB value is generous from what i have seen things sell for :/

    If this was a avalon i was ride the sucker til it died but there doesn't seem to be much reason for this car to go longer than 150k miles....maybe 200k but i find that very much a stretch unless i am missing something
     
  8. ajkula66

    ajkula66 Courage and Consequence

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    Depends on how one does the math. Riding out a known vehicle has two advantages (at least) in my book:

    1) No monthly payment

    2) Knowing the devil you own


    The van had the idle controller and engine mounts replaced, one hose on the A/C system, everything else was sheer upkeep: brakes, tires, filters, belts...stuff like that.

    The SUV had its trans swapped with a used one (with warranty) at a cost of around $1200 for parts and labour - mind you, this is manual trans we're talking about. This was around 225K

    I'll have to take it in before the winter hits hard and am looking at another $750 or so in repairs. Small stuff, but a fair bit of it.

    Once again, it all depends on how one sets their priorities...I tend to look at any estimated figures with a grain of salt, but that's me.
     
  9. Syndrome

    Syndrome Torque Matters

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    I got my 2001 buick regal at 95k miles. Now I'm at 195k miles. I've done some front end parts, rack & pinon, CV axel, hubs, rotors & pads, few oil changes(not even half of what the manufacturer suggests), motor mounts, and tires. Over all I've probably put 3-4k into repairs and such if even that. That is counting 2 sets of tires too. Oh, I also put a $100 battery in it, but I know my estimate covers that and then some. Right now it wants its a tranny flush which will be followed by a pan drop and filter change. It still runs great actually.

    I generally get about 24 mpg, but I drive 70-80-90, depending on the day. If I'm nice to it then I can get upwards of 26-28 mpg.
     
  10. HopelesslyFaithful

    HopelesslyFaithful Notebook Virtuoso

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    Payments...meh that is little concern since you can get a 0-1.9% loan easy. I am rocking 0% on one car and .9% on the other so one car costs me 430 bucks or so in interest. All that is included. Payments don't bother me...at least right now. I don't forsee overly hard financial hardships were a car payment is an issue. The overall costs are what i am concerned with. I just wonder if 3-3.8k is enough headroom to really have enough savings after repairs to be worth while. If even 2k of it gets eaten up would i rather just have a new car for a 1000-2000 loss? Convenience and reliability is powerful to me :) I guess time will tell. I might have to ditch it after 7 years/150k miles anyways for a bigger nicer car depending on life. After i finish building this one i'll updated it to fit my wifes car. She drives ~25k a year i am doing maybe 15k-20k right now....leaning towards 15k. so this is assuming i average 20k over the cars life. I'll probably do 25k a year after college depending on job location. Stuck living in rural area for good and bad reasons. Good is rural areas rock...bad is cost of driving and time :/

    Also this estimated figure is pretty accurate. The maintenance costs are pretty fixed. Granted i need to finish full making them. I am debating if i want to actually expand the excel sheet out with much more complex formulas. Like put filter cost and miles in this box and it adds all the numbers up from look up tables. Not sure if the added effort would be worth it. It is pretty easy to just change how it is since i made it. I doubt people would really use it so added simplicity is probably not worth while.
     
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