I tried digging for the answer to this on Edmunds... how often do they update their figures to account for gasoline price changes? I also noticed that their "TCO" numbers are 5-year numbers. I have kept all my cars to date for at least 15.
Erhm. But Edmunds.com "true cost to own" assumes 15,000 miles a year of driving and assumed resale after 5 years, which are unfair assumptions. 15,000 miles in a year is not a lot, so this "true cost to own" downplays fuel economy. Sale after 5 years also represents an unrealistic scenario - that's not a long time to amortize the added cost of having a hybrid, and it also doesn't make economic sense from a depreciation standpoint. (Speaking of depreciation, their depreciation figures appear either made-up or based on dodgy generalizations about cars in general, that may not apply to vehicles notorious for fuel economy given trends in oil prices.)
___I only use Edmunds “TCO” as a basis for comparison against other automobiles, not exactly what it will cost somebody to actually own a particular vehicle. In detail, I find the FE is way to low , depreciation is on the high side, and initial purchase prices are always on the high side from what I see others pick up their own new automobiles for as well as the prices I have paid for new automobiles myself.
___In the case of 15 years of ownership, depreciation simply equals the purchase price given the car depreciates to just a touch above $0 from initial purchase price. Insurance drops mightily after a few years after you finally drop collision but repairs do tend to rise. Not enough to offset the others or you would have considered removing the 15 year old car from your fleet. Does that sound about right in both of your particular cases as well?
___Wayne R. Gerdes
___Hunt Club Farms Landscaping Ltd.
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