2007 Mazda3 Costs

2007 Mazda3 Costs

Update: July 11, 2010. Added Honda-CRV and added data for year 2009/2010.
mazda3

2007 Mazda3 36 month costs (May 23, 2007 to May 30, 2010)1

(bought new)

Year 07/08 08/09 09/10 Mean Total
Fuel2 $1,973 1,087 815 1,292 3,875
Insurance3 1,670 847 644 1,054 3,161
Depreciation4 275 970 1,625 957 2,870
Service 379 1,347 185 637 1,911
Interest Expense 727 691 347 588 1,765
New car tax 1,274 nil nil 425 1,274
DMV Registration 362 171 217 250 750
Accessories 121 nil nil 40 121
Documentation Fee 55 nil nil 18 55
Jury Duty parking ticket 14 nil nil 5 14
Total Costs $6,851 $5,127 $3,833 5,270 $15,811
Miles Driven 18,619 10,090 7,831 12,180 36,540
Cost per mile $0.37 $0.51 $0.49 $0.43 $0.43

Chart

2003 Honda-CRV 12 month costs (June 8 2009 to May 30, 2010)

(bought used)
2003_honda_crv_sm
Starting miles: 77810
Ending miles: 83500

Service6 $1,680 40%
Fuel 788 19%
Insurance3 644 15%
Depreciation 605 14%
DMV Registration 490 12%
Total Costs 4,207
Miles Driven 5,690
Cost per mile $.74

Chart

Total cost of ownership for the 1993 Ford Taurus SHO (64 months, 2002-2007). (bought used)

93sho

Insurance5 $11,070 39%
Service 9,151 32%
Fuel 4,338 15%
Depreciation 2,590 9%
Rentals 697 2%
DMV Registration 624 2%
Ebay Fees 94 0%
Total Costs $28,564
Miles Driven 32,645
Cost per mile $0.87

Chart

Footnotes:

1 I’m not including the car payments because the car is an asset and the the loan is a liability. The correct way to calculate costs is to add the value of your car as an asset, add the value of your loan as a liability (which has a net effect of 0) and only look at the depreciation and interest expense. Depreciation—the difference between the purchase price and sale price is part of the total cost of ownership.
2 I expect fuel costs per mile to drop this year since the price of fuel went down. Update June 11, 2010: I was wrong about this. Fuel costs were $0.11 mile in 2007, the same as the mean.
3 The insurance rate for the Mazda3 reflects what I paid before getting married in August 2008. Insurance after this is split between the Mazda3 and Honda-CRV as I have no way to apply it to each vehicle separately. My insurance also went down after getting married.
4 Depreciation is low because I shopped around and got a very good deal on the Mazda3—about $4,000 less than what Costco offered ($100 over invoice) for the exact same model. At some points in 
last year

2007/2008
 I could have sold my car for more than I bought it for. However, I expect depreciation to be much higher in the future. Depreciation calculated from KBBUpdate June 11, 2010. I was right, depreciation actually increased as the car has aged. I expect among the 4th-5th year that trend should start to reverse and my depreciation expense will be lower.
5 The insurance rate for the SHO is what I /would/ have paid had I not been living with my parents… this is higher because my insurance company was 21st (I use Amica now) and they didn’t have very good rates. But because I lived with my parents I paid much less than that. If I remove insurance from the calculations on both vehicles the SHO is $0.54/mile compared to the Mazda3’s $0.28/mile (in 2007).
6 Added July 11, 2010. The service this year is almost entirely replacing the A/C that went bad. I expect service costs will go down significantly over the next few years.

Leave a Reply

Your email address will not be published.