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1000 miles per $100 spent #4494486
08/21/17 01:13 PM
08/21/17 01:13 PM
Joined: Apr 2008
Posts: 1,394
Florida
Ausfahrt Offline OP
Ausfahrt  Offline OP
Joined: Apr 2008
Posts: 1,394
Florida
I often use this equation when looking at vehicles. Simply put, my minimum expectations for a used vehicle is to get 1000 miles of relatively trouble free use per $100 spent.

I most recently used this last year when I bought a 2003 Camry for my son for $3000. It had 121,000 at the time and has been great so far.

Do any of you use this or something similar?


'14 Subaru Crosstrek MT 70k
'15 Tacoma 4x4 MT 30k
'03 Camry AT 148k
'07 BMW R1200GSA 71k
'98 Electra Glide 52k


Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494497
08/21/17 01:24 PM
08/21/17 01:24 PM
Joined: Oct 2010
Posts: 9,130
Virginia Beach
Astro14 Offline
Astro14  Offline
Joined: Oct 2010
Posts: 9,130
Virginia Beach
What is included in your $100?

Purchase?
Depreciation?
Repair?

A combination?

If you're measuring cheap, I bought a 1970 Ford Fairlane wagon in 1990 for $250. Drove it for five years. Sold it for parts for $100 (frame crack from rust, not worth fixing).

Put 60,000 miles on it. That's $30/year cost. Or $2.50/1,000. If you exclude maintenance, insurance, etc. and consider only depreciation...

Last edited by Astro14; 08/21/17 01:28 PM.

32 Packard 15W40
02 Volvo V70 T5 0W40 M1
02 Volvo V70 XC 0W40 Edge
05 MB S600 0W40 M1
16 Tundra 1794 5W30 Pennzoil Ultra
Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494501
08/21/17 01:26 PM
08/21/17 01:26 PM
Joined: Mar 2013
Posts: 5,041
The Midwest
skyactiv Offline
skyactiv  Offline
Joined: Mar 2013
Posts: 5,041
The Midwest
Sounds silly to me.


Wife: 15' Audi A4 quattro 6 speed manual
Me: 13' VW GTI 3 door 6 speed manual
Wanted: 2019 Ford Ranger
Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494505
08/21/17 01:30 PM
08/21/17 01:30 PM
Joined: Nov 2014
Posts: 1,003
Canton, Ohio
Throt Offline
Throt  Offline
Joined: Nov 2014
Posts: 1,003
Canton, Ohio
I just buy what I like. Cars are a lose-lose financially no matter which you slice it. Just depends on how much of your monthly bread you want to slice away for it.


'18 Honda Accord Touring, 1.5T, Factory Fill/Filter
'17 Elantra, 2.0L, 22,500, QS Ult. 0w20 w/ FU, hers (lease)
Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494508
08/21/17 01:32 PM
08/21/17 01:32 PM
Joined: Jul 2013
Posts: 118
NC
lawrencerd Offline
lawrencerd  Offline
Joined: Jul 2013
Posts: 118
NC
Seems like a sad equation to leave whether or not you like the car out of it completely. I'd rather find cars I like then decide if it can be economical, rather than the other way around.

Re: 1000 miles per $100 spent [Re: Astro14] #4494510
08/21/17 01:32 PM
08/21/17 01:32 PM
Joined: Apr 2008
Posts: 1,394
Florida
Ausfahrt Offline OP
Ausfahrt  Offline OP
Joined: Apr 2008
Posts: 1,394
Florida
Originally Posted By: Astro14
What is included in your $100?

Purchase?
Depreciation?
Repair?

A combination?

If you're measuring cheap, I bought a 1970 Ford Fairlane wagon in 1990 for $250. Drove it for five years. Sold it for parts for $100 (frame crack from rust, not worth fixing).

Put 60,000 miles on it. That's $30/year cost. Or $2.50/1,000. If you exclude maintenance, insurance, etc. and consider only depreciation...


I don't factor in depreciation. It's just a tool that I use when shopping for used vehicles.


'14 Subaru Crosstrek MT 70k
'15 Tacoma 4x4 MT 30k
'03 Camry AT 148k
'07 BMW R1200GSA 71k
'98 Electra Glide 52k


Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494534
08/21/17 01:59 PM
08/21/17 01:59 PM
Joined: Jun 2003
Posts: 33,586
ME
eljefino Online content
eljefino  Online Content
Joined: Jun 2003
Posts: 33,586
ME
Not a bad formula. On the cheap end there's the risk that it's shagged out and on the pricey end there's the risk that you spent all that money and still got a dog.

I stay on the cheaper end of the curve. laugh

Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494540
08/21/17 02:04 PM
08/21/17 02:04 PM
Joined: Sep 2015
Posts: 3,948
Connecticut
69GTX Offline
69GTX  Offline
Joined: Sep 2015
Posts: 3,948
Connecticut
I look at $1,000 per year based on original purchase price as a general guide when getting into a 20K-40K mile, 1 owner, full sized, used car. My current daily driver cost me $9,000 back in 2009 w/22k miles. So with a residual value of $3,000....it's been running about $750/yr average. Not bad. It's been basically trouble free for the 55,000 miles I've put on it. Obviously engine/trans or other major failures aren't expected. Insurance, registration, depreciation, and routine maintenance costs (brakes, tires, fluids, age related failures) are expected based on the car you decide on and don't factor those in. Now if I had bought the car new and still had it, the average yearly price would be $2250/yr. Way more than I care to spend...never mind the much heavier insurance premiums the first several years.

Like the OP I'm getting around 1,000 miles per $100 spent on the purchase of the car. With nearly 78K miles and 16 years old, I could be leaving the trouble free zone in the near future.


----------------

2001 Lincoln Cont 4.6L DOHC/ 39K mi / QS HM 5w30 / FUG XG2
1999 Camaro SS M6 /19K /Mobil 1 0w40 /Fram UG /GM MTL-ATF
1969 Ply GTX/RRs
Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494598
08/21/17 03:25 PM
08/21/17 03:25 PM
Joined: Sep 2010
Posts: 7,485
S California
OneEyeJack Offline
OneEyeJack  Offline
Joined: Sep 2010
Posts: 7,485
S California
A friend purchased a 65 Porsche 356 SC in 1970 for $3,800 and after a long illness sold it this summer for $98,000. It was always maintained by an independent shop that specializes in 356's, was always garaged and lives in southern California. I don't know what the maintenance expenses might have been and I know there was engine and transmission work done over 200K miles but it appears that he made money overall. When sold it was in such good condition it appeared to be detailed but was not. Everything was absolutely original and any replacement parts were NOS or at least factory parts. It also had a document of authenticity from the factory identifying it as a matching numbers car. It had the bill of sale, window sticker, manuals, tools, keys, and brochures along with every receipt for everything ever spent on the car. The buyer actually paid him $3,000 over his asking price after seeing and driving the car and then taking it home. It was a gift card with a note to go out and have some fun. Sometimes a car is more than transportation.

Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494655
08/21/17 04:43 PM
08/21/17 04:43 PM
Joined: Dec 2016
Posts: 7,174
Waco, TX
Linctex Offline
Linctex  Offline
Joined: Dec 2016
Posts: 7,174
Waco, TX
Originally Posted By: Ausfahrt
I often use this equation when looking at vehicles. Simply put, my minimum expectations for a used vehicle is to get 1000 miles of relatively trouble free use per $100 spent.


Is this including fuel?

It has to be.....

Not including fuel, I spend about $100 for every 10,000 miles.


"The evidence demands a verdict".
(Re:VOA)"it's nearly impossible to actually know the particular additives that are in there at what concentrations."
Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494667
08/21/17 04:54 PM
08/21/17 04:54 PM
Joined: Dec 2016
Posts: 7,174
Waco, TX
Linctex Offline
Linctex  Offline
Joined: Dec 2016
Posts: 7,174
Waco, TX
My 1993 Ford Ranger "Splash" was purchased 20 years ago in 1997 with 47,000 miles on it for $6500. I've put about $1000 (clutch kit, several u-joints, a few sets of brake pads, a rear diff repair, alternator, water pump - STILL the original fuel pump!) over 20 years and almost 240,000 miles that I put on it (it's got 284,000 on it now). I figure it's still worth $2000-ish because it's in very nice shape.

so....

$6500 purchse
$1000-ish in repairs
-still worth about $2000
________________________
= about $5500 for 20 years of ownership.

That's $275 a year, or $22 a month to own it.

That leaves $78 a month for oil, gasoline and tires - is that what you were figuring?


"The evidence demands a verdict".
(Re:VOA)"it's nearly impossible to actually know the particular additives that are in there at what concentrations."
Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494673
08/21/17 05:06 PM
08/21/17 05:06 PM
Joined: Sep 2009
Posts: 16,183
OH
fdcg27 Offline
fdcg27  Offline
Joined: Sep 2009
Posts: 16,183
OH
I've posted this metric before and I think it makes sense.
Thing is, this will only work with cheaper cars.
In terms of depreciation expense, my '12 Accord will certainly make the miles to get down to ten cents each without major work while the '17 Forester probably won't.
I also think that fuel expense should be something under ten cents per mile driven, but that again depends entirely upon car selection.
I agree with your premise but it really only applies to cars bought new at a deal or used ones in decent overall condition.
Still, there are plenty of entertaining used cars that would meet the standards of your metric.


18 Accord Hybrid FF
17 Forester 18K VME 0W-20
12 Accord LX 96K SSO 0W-20
09 Forester 95K M1HM 10W-30
01 Focus ZX3 118K PP 5W-20
96 Accord LX 104K T5 10W-30
95 318i
Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494775
08/21/17 07:18 PM
08/21/17 07:18 PM
Joined: Feb 2015
Posts: 773
Sask, Canada
BrianF Offline
BrianF  Offline
Joined: Feb 2015
Posts: 773
Sask, Canada
While it could seem somewhat arbitrary, I think it is a good idea. I try to get years out, perhaps not miles so to speak. I should try to get x amount of years use out of a vehicle with my daily routines. Again it is arbitrary and also dynamic.


2006 Trailblazer LT. QSUD with Fram Ultra.
2017 Ram 3500 SLT Megacab. Duron SHP 10w30 with Hastings LF608.
1993 GMC 1500. QSAD with Fram PH5
Re: 1000 miles per $100 spent [Re: OneEyeJack] #4494819
08/21/17 08:06 PM
08/21/17 08:06 PM
Joined: Jan 2006
Posts: 1,064
Ruidoso, NM USA
ammolab Offline
ammolab  Offline
Joined: Jan 2006
Posts: 1,064
Ruidoso, NM USA
Originally Posted By: OneEyeJack
A friend purchased a 65 Porsche 356 SC in 1970 for $3,800 and after a long illness sold it this summer for $98,000. It was always maintained by an independent shop that specializes in 356's, was always garaged and lives in southern California. I don't know what the maintenance expenses might have been and I know there was engine and transmission work done over 200K miles but it appears that he made money overall. When sold it was in such good condition it appeared to be detailed but was not. Everything was absolutely original and any replacement parts were NOS or at least factory parts. It also had a document of authenticity from the factory identifying it as a matching numbers car. It had the bill of sale, window sticker, manuals, tools, keys, and brochures along with every receipt for everything ever spent on the car. The buyer actually paid him $3,000 over his asking price after seeing and driving the car and then taking it home. It was a gift card with a note to go out and have some fun. Sometimes a car is more than transportation.


Not quite as good as your friend but good enough: I bought a 2002 BMW M Coupe in 2002. One of only 390 or so made that year. Drove it 66,000 miles and sold it in 2016 for exactly what I paid for it in 2002. Makes up for that 1972 Fiat Sports Coupe that was a fantastic drive but worn out and worthless at 88,000 miles.


2009 Honda CR-V
2011 BMW R1200R
2005 Kaw Ninja 250
1994 Jeep Wrangler 2.5L
2016 Chevy SS Sport Sedan
Re: 1000 miles per $100 spent [Re: Ausfahrt] #4494855
08/21/17 08:58 PM
08/21/17 08:58 PM
Joined: Apr 2016
Posts: 1,198
Campbellsville, KY
Alex_V Offline
Alex_V  Offline
Joined: Apr 2016
Posts: 1,198
Campbellsville, KY
The gas and equivalent slice of the OCI to drive my Cruze 1,000 miles is approx. $74. Figure in a set of tires and spark plugs that lasts 60K, and a few odds and ends, and the one legitimate repair it's needed (coolant outlet) and it's up to about $85/1K. Factor in the averaged slice of the monthly payment per 1,000 miles being $141, but leave out car insurance and registration, and it has thus far cost me a maximum average of $230/month to own and operate, lock, stock, and barrel. How am I doing? laugh


To quote a friend, "Synthetics, man."

'85 GMC C3500, 454, 132K
'82 Mercedes 300CD, OM617 turbo, 173K (totaled 2018, in rehab)
'85 Mercedes 300TD, OM617 turbo, 217K (wife's)
'67 Suburban, 350, 331K
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