Vehicles and the True Cost of Ownership: How Much is My Car Really Costing Me?
May was the last month I plan to put a lot of miles on my car. My daily commute to the restaurant was about 90 miles. And, since I'm thinking about selling the G5, I will probably use the Corolla as much as possible moving forward.
I determined that each mile I drive costs me $.0867 in depreciation. In May I drove 2,081 miles. My vehicle depreciation expense was $180.42.