Hi Fit Freaks,

I am always curious as to the "cost of ownership" of a car. Depending on where you get your numbers (Edmunds, etc.) it is between 30 and 40 cents a mile for a Fit.

Yahoo autos places the base AT around $33,200 for 5 years of ownership. Total Cost to Own - 2010 Honda Fit 5-Spd AT - Yahoo! Autos
These sorts of numbers often factor in insurance, depreciation, etc. The assumption is that you would sell the car in five years and that's how much you would have paid to drive your car ~15,000 miles each year for five total.

I have kept detailed records of my 2009 Base AT and am currently at $20k spent @ around 19K miles; to get this I add my full purchase price & DMV registration fees to all of my upgrades (spoiler, armrest, mats, tint, etc.), gas costs & oil changes, etc., but remove insurance costs from my equation because those numbers vary so much from person to person. I know the Fit is cheaper than a BMW, but not if you are a driver that rear-ends someone once a year...

Is anyone else keeping these sort of records? I am curious to see what other people have been getting. My wife and I are likely to keep this car for its entire usable life so to us it doesn't really depreciate as long as it isn't totalled in an accident. If you sold the Fit at 5 years maybe it could cost $33,200. But if you think of it a different way, how far does $33,200 get you on this car? Is it 125,000 miles? 135,000? We spent $1,600 in gas to get to that 19,000 mile mark so it will cost close to another $7,000 to gas the car up through 100K miles if gas costs stay roughly the same (I live in So Cal where it hovers around $3/gal). Ergo, with oil changes and new tires somewhere down the line our car will cost close to $28,000 to reach 100,000 miles. That works out to about .28c a mile (+28,000/100,000) if you aren't looking to sell.

 

wow, good for you. I'm waay to lazy to do all that.

all i know is that the Fit is like in the top 3 cars of lowest ownership cost, and thats all that matters to me

 

Whether you keep records or not, it doesn't change the cost of owning a vehicle. I just buy it and drive it.

 

^
what he said.

 

My Dad was an obsessive record keeper, and could tell you how much he spent for electricity in 1967. I find when I try to sit down and figure out how much the car, or anything else, costs to own, I just get depressed. Don't even get me started on the Harley.

I content myself with the fact that the Fit is one of the cheapest cars to own, and let it go at that.

 

Purchased July 2009

Routine service to date - $0

Mods including winter wheels and tires $3453+ and rising

Gas for first full year $1020.

Hell if I don't spend it the grandkids will.

This is my old guy toy car. When I bought it I had absolutely no need for a second vehicle.

All figures in Cdn dollars.