Sharing my camry 2011 overall/annual ownership costs.

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post Reply
Topic Author
sd323232
Posts: 743
Joined: Thu Jun 21, 2018 4:45 pm

Sharing my camry 2011 overall/annual ownership costs.

Post by sd323232 »

Sharing my camry 2011 annual ownership costs.

Bought in 2017 for $9,000 (paid cash), 2011 Camry with 144K miles (i know, i overpaid a little).

Current mileage - 199K

Miles driven from april 2017 - october 2019: 55K

2017 - $4,246 (gas, maintenance, registration, insurance, etc)

2018 - $4,762 (gas, maintenance, registration, insurance, etc)

2019 - $4,182 (from jan to now) (gas, maintenance, registration, insurance, etc)

Total money spent including car price - $22,389

This comes out to 40 cents/mile since i bought the car, including cash paid for car.

Not including car price, per year, my average 22K miles driven with average $4500 expenses, comes out to 20 cents per mile.

I plan to replace my car in next 3 years (should hit around 270K+ miles), so this will be 28 cents per mile for whole duration of owning the car (including car purchase).

IRS standard mileage rate is 58 cents per mile against my future 28 cents, take that IRS!

If car does survive to 270K+ miles, my next one will also be camry lol
researcher
Posts: 1294
Joined: Thu Mar 12, 2015 7:05 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by researcher »

sd323232 wrote: Wed Oct 23, 2019 9:05 am Sharing my camry 2011 annual ownership costs.
Miles driven from april 2017 - october 2019: 55K
2017 - $4,246 (gas, maintenance, registration, insurance, etc)
2018 - $4,762 (gas, maintenance, registration, insurance, etc)
2019 - $4,182 (from jan to now) (gas, maintenance, registration, insurance, etc)
These annual costs seem extremely high.

It appears you are spending around $2,000 in gas per year (assuming 22K miles/year, 30MPG and $2.75/gallon).

Which leaves over $2,000/year in maintenance/registration/insurance, which seems quite high.
Could you break out these costs further?
deltaneutral83
Posts: 1729
Joined: Tue Mar 07, 2017 4:25 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by deltaneutral83 »

Assuming you can sell the car for $1,500-$2k if it runs, that would be factored in at the end, no?
Topic Author
sd323232
Posts: 743
Joined: Thu Jun 21, 2018 4:45 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by sd323232 »

researcher wrote: Wed Oct 23, 2019 9:45 am
sd323232 wrote: Wed Oct 23, 2019 9:05 am Sharing my camry 2011 annual ownership costs.
Miles driven from april 2017 - october 2019: 55K
2017 - $4,246 (gas, maintenance, registration, insurance, etc)
2018 - $4,762 (gas, maintenance, registration, insurance, etc)
2019 - $4,182 (from jan to now) (gas, maintenance, registration, insurance, etc)
These annual costs seem extremely high.

It appears you are spending around $2,000 in gas per year (assuming 22K miles/year, 30MPG and $2.75/gallon).

Which leaves over $2,000/year in maintenance/registration/insurance, which seems quite high.
Could you break out these costs further?
Very good questions. Here is breakdown per year:

2017 - $4246

$850 - fixed rear bumper
$400 - had indash system installed (luxury expense, living big here!)
$600 - put 4 brand new tires
$1500 - gas
$820 - insurance
rest is misc stuff like oil changes, registration, car wash.

2018 - $4762

372 - replaced brakes
750 - remote start (YOLO here, totally for luxury, during winter i wake up, start the car and its all warm by time i get in)
250 - replaced both headlights assemblies with after market (also luxury, was not needed)
rest is misc stuff like oil changes, registration, car wash.

2019 - $4182

1200 for maintenance- changed power steering belt, alternator belt, rear brake pads, rear rotors, brake fluid flush, fuel injectors cleaned, alignment

For next 3 years, expenses should be waaay lower since i am not planning to do any major work on my car.
researcher
Posts: 1294
Joined: Thu Mar 12, 2015 7:05 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by researcher »

sd323232 wrote: Wed Oct 23, 2019 9:59 am Very good questions. Here is breakdown per year:

2017 - $4246
$850 - fixed rear bumper
$400 - had indash system installed (luxury expense, living big here!)
$600 - put 4 brand new tires
$1500 - gas
$820 - insurance
rest is misc stuff like oil changes, registration, car wash.

2018 - $4762
372 - replaced brakes
750 - remote start (YOLO here, totally for luxury, during winter i wake up, start the car and its all warm by time i get in)
250 - replaced both headlights assemblies with after market (also luxury, was not needed)
rest is misc stuff like oil changes, registration, car wash.

2019 - $4182
1200 for maintenance- changed power steering belt, alternator belt, rear brake pads, rear rotors, brake fluid flush, fuel injectors cleaned, alignment
Quite a lot of money to sink into a vehicle that started out with 144K miles.
This is why I don't see a lot of value in buying used cars.

Just looking at purchase price and the fact that you plan to keep this car until 270K miles...
- The used car will cost you 7.1 cents/mile
- A new 2019 Camry can be had for ~$22K and would cost 8.1 cents/mile

But you've spent $4422 in repairs/upgrades in just the first 2.5 years!
This puts your cost/mile well above a brand new Camry.
BluesH
Posts: 94
Joined: Mon Nov 19, 2018 1:31 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by BluesH »

researcher wrote: Wed Oct 23, 2019 9:45 am
It appears you are spending around $2,000 in gas per year (assuming 22K miles/year, 30MPG and $2.75/gallon).
LOL. $2.75/gallon??? Where the heck can you buy gas for that? It's over $4 here in California. Haven't seen $2.75 in years!
Texanbybirth
Posts: 1398
Joined: Tue Apr 14, 2015 12:07 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by Texanbybirth »

BluesH wrote: Wed Oct 23, 2019 12:00 pm
researcher wrote: Wed Oct 23, 2019 9:45 am
It appears you are spending around $2,000 in gas per year (assuming 22K miles/year, 30MPG and $2.75/gallon).
LOL. $2.75/gallon??? Where the heck can you buy gas for that? It's over $4 here in California. Haven't seen $2.75 in years!
I just filled up this morning for $1.95/g here in North Texas.
“The strong cannot be brave. Only the weak can be brave; and yet again, in practice, only those who can be brave can be trusted, in time of doubt, to be strong.“ - GK Chesterton
researcher
Posts: 1294
Joined: Thu Mar 12, 2015 7:05 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by researcher »

BluesH wrote: Wed Oct 23, 2019 12:00 pm LOL. $2.75/gallon??? Where the heck can you buy gas for that? It's over $4 here in California. Haven't seen $2.75 in years!
You should get out of California more often, or at least get in touch with what is happening in the rest of the country.

https://www.gasbuddy.com/GasPriceMap?z=4
User avatar
MrBobcat
Posts: 506
Joined: Fri Jan 11, 2019 5:19 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by MrBobcat »

researcher wrote: Wed Oct 23, 2019 11:41 am
sd323232 wrote: Wed Oct 23, 2019 9:59 am Very good questions. Here is breakdown per year:

2017 - $4246
$850 - fixed rear bumper
$400 - had indash system installed (luxury expense, living big here!)
$600 - put 4 brand new tires
$1500 - gas
$820 - insurance
rest is misc stuff like oil changes, registration, car wash.

2018 - $4762
372 - replaced brakes
750 - remote start (YOLO here, totally for luxury, during winter i wake up, start the car and its all warm by time i get in)
250 - replaced both headlights assemblies with after market (also luxury, was not needed)
rest is misc stuff like oil changes, registration, car wash.

2019 - $4182
1200 for maintenance- changed power steering belt, alternator belt, rear brake pads, rear rotors, brake fluid flush, fuel injectors cleaned, alignment
Quite a lot of money to sink into a vehicle that started out with 144K miles.
This is why I don't see a lot of value in buying used cars.

Just looking at purchase price and the fact that you plan to keep this car until 270K miles...
- The used car will cost you 7.1 cents/mile
- A new 2019 Camry can be had for ~$22K and would cost 8.1 cents/mile

But you've spent $4422 in repairs/upgrades in just the first 2.5 years!
This puts your cost/mile well above a brand new Camry.
That's the conclusion I came to once I could afford a new car. New mid-sized sedans on the low-end of the trims are really good values and often beat a used mid-sized sedan in good condition. Worse case scenario it's a wash so why not just get new if it's in your budget.
junior
Posts: 1064
Joined: Wed Sep 10, 2008 6:14 pm
Contact:

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by junior »

researcher wrote: Wed Oct 23, 2019 11:41 am
- A new 2019 Camry can be had for ~$22K and would cost 8.1 cents/mile
Edmunds estimates in 5 years of ownership the cheapest new Camry driven for 75,000 miles would cost $36,815, which includes depreciation (it does also assume financing costs). This would be 49 cents per mile.

https://www.edmunds.com/toyota/camry/20 ... =401771279

I don't know hot to compare with OP since mileage per year is different and I don't know what OP's depreciation is, but it's a very interesting math question.
User avatar
MrBobcat
Posts: 506
Joined: Fri Jan 11, 2019 5:19 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by MrBobcat »

junior wrote: Wed Oct 23, 2019 12:20 pm
researcher wrote: Wed Oct 23, 2019 11:41 am
- A new 2019 Camry can be had for ~$22K and would cost 8.1 cents/mile
Edmunds estimates in 5 years of ownership the cheapest new Camry driven for 75,000 miles would cost $36,815, which includes depreciation (it does also assume financing costs). This would be 49 cents per mile.

https://www.edmunds.com/toyota/camry/20 ... =401771279

I don't know hot to compare with OP since mileage per year is different and I don't know what OP's depreciation is, but it's a very interesting math question.
I look at it simplistically (probably too much so). My thought process goes as follows:

New car = $23K, zero miles
Used car = $9k, 144K miles
How much of the life of the new car is used up. Let's say life is 250K
So my math is as follows 250-144 = 106K life left. 106/250 * 23,000 = $9,752, which is close enough of a wash between new and used to me.

I know, I know I haven't taken into consideration higher tags, insurance etc, but I haven't also taken into consideration higher maint costs of an older car.
researcher
Posts: 1294
Joined: Thu Mar 12, 2015 7:05 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by researcher »

junior wrote: Wed Oct 23, 2019 12:20 pm Edmunds estimates in 5 years of ownership the cheapest new Camry driven for 75,000 miles would cost $36,815. This would be 49 cents per mile.
You apparently didn't read the lines directly above the one you quoted...
Just looking at purchase price and the fact that you plan to keep this car until 270K miles.
This is simply purchase price divided by miles driven, which in this case are very close for the used vs. new.

And this doesn't account for the fact that the used vehicle with 144K miles is more costly to maintain than a brand new vehicle with zero miles.
Which is born out by the fact that the OP has spent $4400+ in repairs/upgrades in just the last few years.
researcher
Posts: 1294
Joined: Thu Mar 12, 2015 7:05 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by researcher »

MrBobcat wrote: Wed Oct 23, 2019 12:46 pm I look at it simplistically (probably too much so). My thought process goes as follows:
New car = $23K, zero miles
Used car = $9k, 144K miles
How much of the life of the new car is used up. Let's say life is 250K
So my math is as follows 250-144 = 106K life left. 106/250 * 23,000 = $9,752, which is close enough of a wash between new and used to me.

I know, I know I haven't taken into consideration higher tags, insurance etc, but I haven't also taken into consideration higher maint costs of an older car.
This is a great way to look at it, and the values are easier to understand/quantify than my cost/mile approach.

So the brand new vehicle with full factory warranty cost $752 more than the used vehicle, once you factor in the remaining life left.
However, the OP spent $1850 on repairs in just the FIRST YEAR, and more than $4400 within the first 2.5 years.

The new car would clearly be a better value for me.
CMD1
Posts: 132
Joined: Tue Nov 28, 2017 8:10 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by CMD1 »

We own a 2009 Camry, got lucky and it with only 65k miles from a retired couple 4 years ago for ~$9k. We drive no more than 10k a year (still under 100k). Before that we had much older cars and I have to say the lack of repair costs we have had the past 4 years have been nice.

Of course with a new car you would need to factor in high tax/registration costs at time of purchase and annually (state specific but could easily be ~$2k+ upfront and ~$500+ annually), higher insurance (comp/coll based on value of the car), and the fact your dropping another $12-18k on the purchase price.

Haven't seen gas much below $3.00 in the PNW in years either. Quite a shock compared to the southeast where it can be up to a dollar cheaper.
Topic Author
sd323232
Posts: 743
Joined: Thu Jun 21, 2018 4:45 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by sd323232 »

I like the discussion, lets keep it going guys!!!
User avatar
MillennialFinance19
Posts: 294
Joined: Sat Feb 09, 2019 11:06 am

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by MillennialFinance19 »

As someone who owns two classic cars, the last thing I want to do is spend my free time fixing my daily drivers. This is why we have bought slightly used in the past or will buy new in the future.
For the love of God, stick to your plan!!!
User avatar
hand
Posts: 1523
Joined: Sun May 17, 2009 8:42 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by hand »

Thanks for sharing actual numbers!

Seems to me that for a comparison with a new vehicle, the luxury items (in-dash system, remote start) should be excluded if they would not be included in the base price of a new car. If bumper cost was from damage after the car was purchased, perhaps that should be excluded as well, or even shown as a savings if actual cost to repair was cheaper than on a new car.
researcher
Posts: 1294
Joined: Thu Mar 12, 2015 7:05 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by researcher »

CMD1 wrote: Wed Oct 23, 2019 1:21 pm Of course with a new car you would need to factor in high tax/registration costs at time of purchase and annually (state specific but could easily be ~$2k+ upfront and ~$500+ annually), higher insurance (comp/coll based on value of the car), and the fact your dropping another $12-18k on the purchase price.
As you mention, this is state specific. So it could just as easily be an additional ~$0K+ upfront and ~$0 annually.

My registration costs are identical for my 2019 and 2005 vehicles.
For my locality, the difference in sales tax is about what the OP had to spent on new tires alone.
Insurance for my 2019 is about $150/year more than my 2005 model.

Yes, the OP would be spending another $13K on a new car, but it would have considerably more life left (144K fewer miles).
Plus it comes with a factory warranty, no cost maintenance plan, roadside assistance, all the latest safety features, ect.
And we haven't even factored in the $4400 the OP has dumped into repairs so far.
H-Town
Posts: 2921
Joined: Sun Feb 26, 2017 2:08 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by H-Town »

BluesH wrote: Wed Oct 23, 2019 12:00 pm
researcher wrote: Wed Oct 23, 2019 9:45 am
It appears you are spending around $2,000 in gas per year (assuming 22K miles/year, 30MPG and $2.75/gallon).
LOL. $2.75/gallon??? Where the heck can you buy gas for that? It's over $4 here in California. Haven't seen $2.75 in years!
LOL. :mrgreen:

We pay $1.95 for the past month.
Topic Author
sd323232
Posts: 743
Joined: Thu Jun 21, 2018 4:45 pm

Re: Sharing my camry 2011 overall/annual ownership costs.

Post by sd323232 »

H-Town wrote: Wed Oct 23, 2019 2:52 pm
BluesH wrote: Wed Oct 23, 2019 12:00 pm
researcher wrote: Wed Oct 23, 2019 9:45 am
It appears you are spending around $2,000 in gas per year (assuming 22K miles/year, 30MPG and $2.75/gallon).
LOL. $2.75/gallon??? Where the heck can you buy gas for that? It's over $4 here in California. Haven't seen $2.75 in years!
LOL. :mrgreen:

We pay $1.95 for the past month.
I'm glad I dont live in cali!!! 8-)
Post Reply