I’m quite interested in this topic. Currently running a Honda Jazz 1.2 litre which is now ten years old. It has been a reliable car. I’ve covered 131,000 miles in that time. My MPG is around 50, give or take. I drive very gently. Most of my driving is the short (12-14 miles) commute to go to work or collect my children. The most miles I do in a jaunt is maybe up to 50 miles round trip, rarely more than that when I think about it, though I may do a couple of these length trips in a single day. Next month I retire, so taking away my journey to work, my mileage is going to drop substantially, I reckon to around 8,000-10,000 miles per year.
Anyway, I bought the car new, it cost me around £9,000 ($12,000).
On the basis of my MPG, the fuel over the decade (looking at roughly £1.15-£1.20 per litre or so) is around £14,000 ($19,000) - that figure is variable, bearing in mind fluctuations of fuel costs.
Car tax is £100 a year, so £1,000 ($1,350)
I’ll not include annual servicing costs or usual tyre changes etc, neither will I include any one-off repair costs I’ve had to do because that is just the luck of the draw. Neither will I include whatever my car is worth now.
So, without these costs, my 131,000 miles have cost me £24,000. Call it $32,000.
When I think of these costs, an electric car such as the Nissan Leaf starts to become attractive. I can get a deal through work where a Leaf is (after a £499 / $650 deposit) £199 / $262 per month. They will fit a fast charger at my home. This will be for three years then I can either hand back the car or give them about £10,000 ($13,200) and the car is mine. So the three years would be £7,663 ($10,000) - if I was to keep the car then it would cost me £17,663 ($23,200). This is on the basis of (in those three years) 6,000 miles per year. Extra miles are 10p / 13c per mile. Of course, if I buy the car after three years then I can do as many miles as I like in it. According to the blurb, the Leaf costs around 2p per mile, so if I did 131,000 miles it would cost me £2,620 ($3,500) in fuel. Grand total is just over £20,000 ($26,500), not including the servicing or other ad-hoc costs.
My thoughts are to maybe, potentially keep my little Jazz for those longer journeys and have something like a Leaf as my day to day car.
Certainly, the sums start to make sense. By the way, EV’s don’t pay car tax in the UK.
So over ten years, my costs would be around £3,000 ($4,000) less than even my very frugal Jazz.
Food for thought.
SP