The True Cost of Owning a Car
Ever wonder what your car really costs you during its lifetime? It’s much more than the purchase price.
Last fall, I read a Kiplinger’s article that set out to calculate whether hybrids are worth the higher price you pay for the better gas mileage. The article mentioned that the Toyota Prius and the Honda Civic Hybrid are tied for lowest total ownership costs over five years, at $39,780.
Since I already knew that Honda hadn’t improved much on the fuel efficiency of its lineup in the 10 years since I bought my 1999 Honda Civic HX (EPA-rated 34 city/38 highway, based on the old estimate formula, or 29/35, based on the new formula), I was curious to see if I beat Kiplinger’s total ownership cost estimates based on my own real-world driving habits and oil-changing proclivities. Read more »
