I am in the market for a new car, so I've done some calculations for total cost of ownership. I thought I should share this with you guys and discuss the valididyt of such a comparison. I am restricting my comparison to Hondas only, because that's the only brand I want.
Any questions / comments / suggestions are appreciated.
TIA
Here are some notes:
--> Ownership window is 4 years.
--> Gas mileage is actual mileage users experience from http://www.fueleconomy.gov . Average gas cost = $3.5 over 4 years
--> Insurance rates are from AAA for this year. Since rates go down, I've assumed total insurance costs for 4 years = 3.5 times this years rate.
--> Bay Area bridge tolls have been included. $3 for every commute day for 50 weeks for two years. (Job could change within four years, hence being conservative).
--> Opportunity cost is simply the money I would have made if I had not plunked money into the car. (Does not include opportunity cost of insurance / gas / maintenance).
Real Cost of ownership: Fit v/s Civic v/s Civic Hybrid v/s Accord VP
