Interesting...see attachment... you can calc the tru cost of ownership! M are expensive toys! i could be driving a new one for same price at end of the year!
Happy New Years guys!
It's not the car wash attention to detail that scares me. It's when they drop the drying cloth (happened to me on different car ... well, my Wife, actually). You should NEVER use a cloth (wet or dry) that has been on the ground (without washing) ... otherwise, you may wind up with surface scratches from small rocks picked up on the cloth.... Do your own car washes...part of the fun IMHO (I generally don't let anyone else do my washes because I know they won't pay the same attention to detail that I do) and save your self $250/yr.
Insurance can be an issue too. It is normal in UK to be compelled to have a tracker fitted before you qualify for cover and the premiums are loaded, especially for younger drivers.Total Cost of ownership is a fairly common measure and is = (starting price - current price) + maintenance (any non accident related repairs not covered by warranty) + gas.
By definition an M5 will have higher ownership cost than most vehicles simply because of the depreciation drop. Whether you own your car outright, lease, etc is irrelevant - the equation normalizes by simple using depreciation which takes your credit score, etc out of the equation. Also, for a true apples to apples comparison you must use book values for repairs, not the amount it costs to DIY unless you can also find comparable repair costs for the comparator vehicle.
Good point. Insurance is a huge variable, but since insurance premiums are more dependent on your driving record than the car you drive it is nearly impossible to present a "cost of ownership" number for a vehicle that includes anything other than an "average". With that said, any individual should clearly include it when doing their own comparison since it can make a big difference.Insurance can be an issue too. It is normal in UK to be compelled to have a tracker fitted before you qualify for cover and the premiums are loaded, especially for younger drivers.
This is really a cash flow analysis, not a cost analysis.to figure the true cost per mile I would have to included payments (if anyone owns car outright, high five.. but i'm not there)
i did this bc i can compare that to say an $800/mo payment and $0 maintaince for a newer 550i ... in the end of the year I save money with the 550i