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Smart Shopper True Cost to Own (TCO) - Hidden Costs of Car Ownership
157 messages, Last post on Jul 09, 2009 at 3:57 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
| A 3% per year price increase is reflected in the fuel costs. Future fuel prices are, of course, impossible to accurately forecast. The 3% represents a best guess. Since it applies to all of the vehicles in the TCO tool, however, vehicle-to-vehicle comparisons are valid. | |
| Depreciation is the difference between the purchase price (including typical equipment & destination charge) and resale (of a clean vehicle driven 15,000 miles/year) to a private party. | |
| I agree that for comparison's sake it doesn't really matter what inflation value you use or if you even factor for inflation. The point I was trying to make is that it creates the impression that it is not a good idea to keep your car for an extended period of time. Some people might look at the projected costs each year and conclude that it makes financial sense to get a new car prematurely. For example, the Honda Accord EX V6 has a TCO of 31,800 over 5 years. This averages out to 6,300/year. I suspect that by the 7th year this average will have bottomed out and started to rise. The conclusion could be made that this is the ideal length of time to keep a car from a financial standpoint. That is definitely not the case. So, since as you stated we are using these figures for comparison's sake why not leave inflation out of the equation. | |
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the TMV price and the TCO resale prices so different? shouldn't they be the same? I have a 2001 vehicle that shows Trade in of 19,398, Private party of 20,759 and a dealer retail of 23,448. Why in your TCO does the resale/depreciation show different? by thousands of dollars???? |
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| With similar equipment & mileage & in clean condition, one-year-old essentially same vehicles should have similar Used TMV and one-year TCO private party prices. Please advise the make/model/style of your 2001MY vehicle, and we will research the prices and post our findings. | |
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2001 Ford Escape XLT v6 AWD in black. I have stepbars, leather, privacy glass, 6CD Mach stero, console, roof rack, wheels. When looking under the projected resale under TCO it does not match the TMV Edmunds posts for this vehicle. Another thing Edmunds has posted incorrectly is the ground clearance for the Escape is 7.8" and they list the 235 tire. This is incorrect. Ground clearance is 8.5" with the 235 16" rim/tire and 7.8" with the 225.15" tire. |
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We entered your options into the Used TMV Appraiser with 15,000 miles and clean condition, and the amount is $18,793 in the Chicago area vs. a one-year resale value of $17,318 in the TCO tool. The $1475 difference is primarily due to the price of your multiple options being more than the typically installed equipment identified in the TCO tool for this vehicle. Regarding the Escape's ground clearance and rim/tire size, although different ground clearances might be expected with different tires, all of our Ford sources show only a 7.8" ground clearance for all Escapes whether equipped with 225.15 or 235.16 tires. These sources include Ford’s dealer guide, media site and Escape brochures. If information is received from Ford indicating a different ground clearance, we will modify the data on our site. |
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True Cost to Own (TCO) Special Report: Revealing the Hidden Costs of Car Ownership
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Replying to: Sylvia (May 06, 2005 6:30 am) i chose an '04 escape xlt, ct zip code. why is maintenance in year 1 over $1000? |
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I put in the VIN for my old Volvo, which has been totalled twice just since I've had it, and was obviously in a flood before I bought it (used). Carfax came up with their "Good News" - no wrecks or anything else reported.
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