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)

Year07/0808/0909/10MeanTotal
Fuel2$1,9731,0878151,2923,875
Insurance31,6708476441,0543,161
Depreciation42759701,6259572,870
Service3791,3471856371,911
Interest Expense7276913475881,765
New car tax1,274nilnil4251,274
DMV Registration362171217250750
Accessories121nilnil40121
Documentation Fee55nilnil1855
Jury Duty parking ticket14nilnil514
Total Costs$6,851$5,127$3,8335,270$15,811
Miles Driven18,61910,0907,83112,18036,540
Cost per mile$0.37$0.51$0.49$0.43$0.43

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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$1,68040%
Fuel78819%
Insurance364415%
Depreciation60514%
DMV Registration49012%
Total Costs4,207
Miles Driven5,690
Cost per mile$.74

Chart

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

93sho

Insurance5$11,07039%
Service9,15132%
Fuel4,33815%
Depreciation2,5909%
Rentals6972%
DMV Registration6242%
Ebay Fees940%
Total Costs$28,564
Miles Driven32,645
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.

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