Here's my way to look at it.

The Fed's allow $0.375 per mile allowance for autombile expenses.

my 1986 300SDL works out thus:

20,000 miles driven (so far)

$0.105 / mile $2,000 purchase
$0.175 / mile $3,500 maintenance
$0.100 / mile $2.50/gallon @ 25 miles/gallon
$0.030 / mile $600 insurance per year, owned 10 months

$0.405 / mile Total

Not too bad, and it seems to be getting better now that the bigger items, like new radiator, etc. have been taken care of.

Oh, if I sold it today for the $2,000 I paid for it, the cost would be $0.300 per mile, so I could say I'm ahead of the game. Not bad for a 19-year old 'hobby' car I really didn't need!

The final, end-of-life value will be more like $0.00, as it is hauled away for parts...


Best Regards,
Jim