PapaBare
Veteran Member
Some '08 models will cost more than $1 a mile.
So you've swallowed hard and figured out what you'll need for the down-payment on your new car. You've even worked in the price of gasoline. But before you sign on that dotted line, better figure in a range of other factors, including insurance, maintenance, and more.
The cost of owning and operating the typical new car or light truck is pushing into record territory, according to a new study by the consulting firm, Runzheimer International. Since the average American motorist will clock 15,000 miles or more, each year, expect to pay $1 or more a mile, for some models - or enough to buy another mid-size sedan, once you add everything up.
Feeding and caring for your 2008 Cadillac STS - the most expensive passenger car in the Runzheimer survey - will come to an estimated $19,537, all told. Close behind are the Lexus LS460, at $19, 372, and the Audi S4 quattro, at $18,948.
For that money, you'd nearly be able to purchase and operate a Toyota Corolla CE for the entire year. The Japanese sedan was the operating cost king, according to Runzheimer, at $7933 annually, the least expensive of all vehicles surveyed. (The Corolla CE's sticker price, meanwhile, comes in at $15,065, for a first-year total bill of just $22,998.)
Number two on the most affordable car list was the Hyundai Accent GLS, at $8505, while Chevrolet's Cobalt LT came in third, with annual operating expenses of $8917.
Clearly, the rapid run-up in fuel prices has had a big impact on operating costs. All three of the most expensive passenger car models feature big V-8s, while the Corolla, Accent, and Cobalt use fuel-sipping in-line fours. The same pattern holds true with the light trucks Runzheimer surveyed.
At the high end, Ford's brawny, V-8-powered E350 XL S.D. will set an owner back $16,543 in annual operating costs, with the Chevrolet Tahoe LS 4x4 close behind, at $15,789. Third most expensive is the Ford Explorer XLT 4x4, at $14,485.
The least expensive trucks to operate, Runzheimer found, are the four-cylinder Ford Ranger XL 4x2 (with the six-foot bed), at $9929. Two V-6 models follow: the GMC Sierra 1500 Work 4x2 (eight-foot), at $11,712, and the Jeep Liberty Sport 4x2, at $11,717.
"When you examine which vehicle to buy, it's not enough to compare only sticker prices or even best negotiated deal," notes Lee Czarapata, Director of Client Relations, Business Vehicle Services at Runzheimer International. "To gain a better understanding of how much a vehicle will cost over its life time, all of the major expenses you incur once you drive off the lot - such as finance payments, insurance, fuel, depreciation, fees, taxes and cost of repairs and maintenance - should be part of your equation."
The Runzheimer study balanced out those costs against a 36-month/60,000-mile ownership cycle.
http://www.thecarconnection.com/Auto_News/Daily_Auto_News/Aut
perating_Costs_Hit_New_Record.S173.A13720.html?srccd=cn20071207
So you've swallowed hard and figured out what you'll need for the down-payment on your new car. You've even worked in the price of gasoline. But before you sign on that dotted line, better figure in a range of other factors, including insurance, maintenance, and more.
The cost of owning and operating the typical new car or light truck is pushing into record territory, according to a new study by the consulting firm, Runzheimer International. Since the average American motorist will clock 15,000 miles or more, each year, expect to pay $1 or more a mile, for some models - or enough to buy another mid-size sedan, once you add everything up.
Feeding and caring for your 2008 Cadillac STS - the most expensive passenger car in the Runzheimer survey - will come to an estimated $19,537, all told. Close behind are the Lexus LS460, at $19, 372, and the Audi S4 quattro, at $18,948.
For that money, you'd nearly be able to purchase and operate a Toyota Corolla CE for the entire year. The Japanese sedan was the operating cost king, according to Runzheimer, at $7933 annually, the least expensive of all vehicles surveyed. (The Corolla CE's sticker price, meanwhile, comes in at $15,065, for a first-year total bill of just $22,998.)
Number two on the most affordable car list was the Hyundai Accent GLS, at $8505, while Chevrolet's Cobalt LT came in third, with annual operating expenses of $8917.
Clearly, the rapid run-up in fuel prices has had a big impact on operating costs. All three of the most expensive passenger car models feature big V-8s, while the Corolla, Accent, and Cobalt use fuel-sipping in-line fours. The same pattern holds true with the light trucks Runzheimer surveyed.
At the high end, Ford's brawny, V-8-powered E350 XL S.D. will set an owner back $16,543 in annual operating costs, with the Chevrolet Tahoe LS 4x4 close behind, at $15,789. Third most expensive is the Ford Explorer XLT 4x4, at $14,485.
The least expensive trucks to operate, Runzheimer found, are the four-cylinder Ford Ranger XL 4x2 (with the six-foot bed), at $9929. Two V-6 models follow: the GMC Sierra 1500 Work 4x2 (eight-foot), at $11,712, and the Jeep Liberty Sport 4x2, at $11,717.
"When you examine which vehicle to buy, it's not enough to compare only sticker prices or even best negotiated deal," notes Lee Czarapata, Director of Client Relations, Business Vehicle Services at Runzheimer International. "To gain a better understanding of how much a vehicle will cost over its life time, all of the major expenses you incur once you drive off the lot - such as finance payments, insurance, fuel, depreciation, fees, taxes and cost of repairs and maintenance - should be part of your equation."
The Runzheimer study balanced out those costs against a 36-month/60,000-mile ownership cycle.
http://www.thecarconnection.com/Auto_News/Daily_Auto_News/Aut
perating_Costs_Hit_New_Record.S173.A13720.html?srccd=cn20071207
