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.

So I decided to see how much my Honda has cost me since I bought it. I’m in the habit of tracking my expenses anyway, so it was easy enough to dig out the data. Surprisingly, the purchase cost of my car ⎯ $14,500 ⎯ represented only 42% of my total ownership costs during the 10 years I’ve owned it. (You might guess, correctly, that the longer you hold onto your car, the less the purchase price contributes to total costs.)  My state’s car tax, registration and license renewals, gasoline, car insurance, and repairs and maintenance made up the rest of expenses.

Here’s how it all breaks down.

Purchase Price: January 1999: $14,500

Total costs: $37,025
Minus sale of old car: $2,850
Balance: $34,175 divided by 10 years of ownership = $3,418 per year to operate.

I paid for the car in cash, so I didn’t have to factor in interest payments on a car loan. A few points worth noting:

• DMV fees. Required registration, license renewal fees and state car taxes made up a substantial part of overall ownership costs (10%).
• Gasoline. It’s hard to believe I spent less than $500 annually for gas during 2004-2006, but aside from lower prices at the pump, that’s largely because I worked at that time just a half mile from my home, and I made a point of walking to work whenever possible.
• Insurance and maintenance. These two categories were nearly tied for top expense, both making up approximately 20% of total ownership costs. (Maintenance included things like new tires, too.) It makes sense that while repair and maintenance costs gradually increased over the years, the cost of insurance dropped (especially in 2006, when I dropped collision coverage).

So I’m happy to report that I spent less money to operate my car for 10 years than it would cost to own a Prius or Honda hybrid for 5 years. Although you’ll spend less money on gas with a hybrid, their current price tags north of $20,000 may not make up for their purchase price and other car ownership costs. Unless you totaled your last car or perhaps if it was a behemoth gas guzzler, it seems clear that coaxing an old car along is a whole lot cheaper than buying a new one.

And if you’re lucky enough to live and commute in an area with a good public transit system, or if you happen to have neighbors who work nearby, just think what you could do with an extra $34,000 in your pocket.