Purchase price of car ($):

48,100

Vehicle's age in years (#):

Years you plan to own vehicle (#):

Number of years to calculate lifetime costs (#):

44

Expected percent return on investments (%):

Year -->

10+

Year %

28

20

16

YTD %

28

48

64

72

78

83

87

90

92

93

Final vehicle age in years:

Depreciation cost:

$37,518

Resale value at end of ownership period:

10,582

Average annual depreciation percentage:

16%

Average annual depreciation cost:

$7,503.60

Lifetime depreciation cost:

$330,158.40

Forfeited future value:

$1,498,904.37

annual vehicle purchase costs (do not include finance

charges)

/year
$9620

annual finance charges on vehicle loan(s)

/year
$250

gasoline and motor oil

/year
$2900

annual car insurance expenses

/year
$1500

annual maintenance and repair expenses

/year
$300

vehicle rental, leasing, licenses, and other fees

/year
$100

Monthly Costs - This is your total monthly household car

expense. If you didn't own a car, this is how much you'd be
saving each month.
Retirement Savings
If you didn't own a car
and began investing your
monthly automobile
savings at age 25 at 5%
interest, you would
have
by the
$2,092,123.7

time you retired (if you

retired at age 67).

/month
$1222.50

College Savings

Home Mortgage

If you didn't own a car and invested

your monthly automobile savings
for 18 years at 5% interest, you'd
have
for
your

If you didn't own a car and bought

a house using your monthly
automobile savings, you could
obtain
a
home

$426,899.47

children's college education.

$227,729.27

mortgage, assuming a 5% fixed,

30-year loan. This would be
According to the College Board, the
enough to cover
of the
current annual cost of college at a
134.91%
public university is $8,240 per year
and inflating at
roughly
8% purchase price of the median
annually. This means the average existing home in the US in July
cost of a four-year college 2012, according to the National
education in eighteen years is Association of Realtors
about $137,383. If you didn't own a
car and saved the money instead,
you would be able to send a total
of
children to college 18
3.10

years from now using just the

money you saved from not owning
an automobile.