Cost of ownership

Recently, a friend of mine, figured his total cost of ownership on his 308 to be $178 for each month for the 10 years he has owned the car. This included tag, insurance, repairs, gas and general maintenance. This got me to wondering what mine was. So I added everything up and came up with 133/month for my 308's, 5 years of ownership. Anybody else figured their cost of ownership? I know, it may hurt to much.

 

OK so how much difference is this from your daily driver. Also did you account for the depreciation of the car as well. I assume you are counting the normal wear , gas and oil , etc. Also how did you account for your labor when you had to do any repair work. I guess it would be interesting to see how each persons car compares .

 

Now there's a rat hole - Never figure out the cost of a toy, or anything you truly enjoy. When you stop enjoying your car/boat/airplane/motorcycle it's time to sell.

 

+1!

Ours are not rational choices... <grin>

-Peter
www.peterkrause.net

 

Mine would be extremely high, mostly due to discretionary spending on restoration.

As posted above, there's no sensible way to figure it out, because the car isn't even my daily driver (and so doesn't get enough mileage added to yield a cost of ownership statistic that would be relevant to anyone...)

 

You must be talking operating $ only? Not inlcluding the cost of the car....

If that's the case, off the top of my head (since a wise man once said keep all your receipts, just don't ever add them up=)...pretty much right around $100/month, 7 years.

 

Forecasting one year of ownership (new owner), after my major service (tenatively scheduled for December), and including depreciation (rough estimate) my Ferrari will have cost me $1,200 per month.

 

Here's my take on this subject, as I am frequently grilled about this by my buddies at work. I recently bought a '98 355, which will remain pretty much at the same resale value as that which I bought it at. My only expenses are therefore repairs, maintainence, gas, and insurance. Whatever number that works out to be, it will realistically be cheaper than most cars as a whole because of the modest (if even that) depreciation. Having said that, I agree with the above folks who say that ours are not neccessarily rational decisions, as these are sort of toys.

Two caveats to my above statement: 1) I actually use my car as a (mostly) daily driver, so it makes sense to compare my overall operating costs with the price of a car payment, and 2) as stated above, my car is at or near the bottom of the depreciation curve, so not much to add here in terms of operating cost.

Maybe all this is simply rationalization for my emotional desire to drive the car I really wanted for a long time, but I'm OK with that too. You only live once!

John

 

Time to post the cashometer again!
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When cost of ownership becomes an issue. It's time to sell!

 

Just shy of $300 per month for my Mondial QV.

 

I drive mine a lot, and insurance is $300/month up here. somewhere around $1/mile. I pay for the work to be done.

 

it's what i want. insurance is the cheapest part! declared value, liability a flat 200 a year, for all 30 cars+ declared value of each, all cars about 7000 a year. don't ask about the bills, storage is 60000sq foot building, +, well you know.

 

I can do a fairly accurate account on two different levels for my 1979 Boxer.
I have what appears to be all the service records from 1989 to date, but that won’t take into account insurance, tags, gas, etc., just the service on the car.

Then I can do it for the 26 months I’ve owned the car, including not only service, but insurance, tags, gas, and the costs of the miscellaneous items I’ve done myself.

So first, from 1989 to date.
Costs of Service only; $48,000.
Mileage during that time period; 19,000 miles.
Cost per year; $2,666.
Cost per month; $222.
Cost per mile; $2.52.

Then for the 26 months period of my ownership, and 3000 miles.
Engine out service; $4,800.
Tires; $1800.
Clutch; $1500.
Gas; about $1,000.
Insurance and license tags; $3600.
Miscellaneous; $1500.
Total for 26 months and 3,000 miles; $14,200.
Cost per month; $546.
Cost per mile; $4.73.

The next 2 years will be somewhat less as I won’t need tires or another clutch, but will need the engine out service, etc.

But the Cost of ownership is a good deal less if you factor in the Fun Factor, of about a Thousand Smiles a Mile!

John

 

......The joy of driving a Ferrari, Priceless.

 

It was me. Look at post # 49 here:

http://www.ferrarichat.com/forum/showthread.php?t=162851

 

$1.29 per mile aggregate for gas, engine oil, tranny oil, 1 top end engine rebuild, 1 new radiator, 4 O2 sensors, and misc parts, plus insurance.

Does not include cost to tag the car and does not include depreciation. Does not include tires. Does not include cosmetics such as the Momo steering wheel, etc.

 

What is it with these fixes costs added?

 

Just over $1.71 / mile so far (still excluding depreciation, though).

 

I pay $110 a month for cable TV/internet.

I lost $14,000 buying and selling an audi S4 (new) in 18 months. That does not include interest, just depreciation.

I don't think my 512 has depreciated much. But I have put a lot of gas in it!

 

My cost of ownership is in the negatives, due to the recent dramatic appreciation of the F40's...

 

Can you elaborate on what's going on with F40 prices?

 

If you bought a 246 a few years back, you actually made money each mile you drove! ;>)

Ken

 

So far my 1989 348ts has cost me $271 per month (about $2.21 per mile), including all service, gas, insurance, etc... I have had it for 31 months. I would guess the overall cost will dwindle since I have had some extra service when I first got the car to get it all sorted out. The other big factor is depreciation / appreciation and I think I could sell for about the same as I paid so no net change there.

BT
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I bought my car in the low to mid 300's 2 years ago. Now cars are selling for high 400's and perhaps low 500's, and with asking prices for some low mileage cars being in the 700's (according to another thread in the supercar section)... I was offered $475 for my car recently.