Quote:
Originally posted by richlevy
Actually, if you already own the car and pay the insurance, the cost for gas and "wear and tear" is a lot less than 0.50.
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Actually the 'cost per mile' number was typically $0.70 per mile; rates vary even across county lines. So I cited the lowest number. These numbers were calculated back when gasoline was about $0.60 per gallon and were based upon an average car before SUVs became popular.
IOW the $0.50 per mile cost was a very conservative figure; driving costs were often higher then and are higher now.
Of course you could take lessons by doing what most American millionaires do - buy used Fords. Surprised? Most millionaire buy used cars - not new cars. Most millionaires by Fords - not expensive flashy machines. Driving is that expensive.