My vehicle, a 2008 Lexus RX 350 recently hit 180000 miles. I bought this car used at 60000 miles back in 2010 and it's been a great car. I have tracked all expenses associated with it and decided to break it down and figure out what the car has cost me over this time. So here it is:
Maintenance - $8752 (this includes oil changes, tire replacements, brake jobs and everything in between) The car has always gone to the dealer and while that has inflated the cost a bit, I don't think this cost is in anyway excessive. The headlights were replaced due to excessive moisture but Lexus did this for free out of warranty, which speaks volumes to me about their customer service, especially since the cost back in 2011 was $3633.
Depreciation: $19305. This car was bought used in 2010 and inclusive of all the taxes and fees ended up being $24487. It was paid in cash so not accounting for interest here. The KBB value as of today is $5182.
Insurance: $10440, this is an average of $116 per month. While insurance has gone slightly up and down over the years, this is the average.
Fuel: $14347.82, This car delivers an average (both city and highway combined) of 23 MPG and since the car has spent its life in multiple states, I took an average gas cost of $2.75 per gallon. Keep in mind gas costs were quite high during the earlier part of this decade so this figure is probably on the lower side.
DMV Fees and tickets: $1380. It cost roughly $72 per year to keep this car registered. This is the average of registration costs over multiple states. Also I added $804 in the 3 tickets received driving this vehicle and its associated court costs.
Looking at this table below, it looks like my costs were quite low. Guess the no finance and interest charges really helped here: http://ift.tt/1Ny6dQ2
Submitted August 08, 2017 at 09:27AM by azfanboy http://ift.tt/2vLdjg0
