2016 BMW 428i xDrive Gran Coup.

$ 49,450
Engine Power
179 hp
Torque
1997 lb-ft
Consumption *
8.9 l/100km
Exterior
Installment MSRP
Mineral Grey Metallic
$ 12 monthly- $ 895
18" Double Spoke Style 397 with all-season run-flat tires
$0
Interior
Installment MSRP
Saddle Brown Dakota Leather
$0
Ash Grain Black Trim with Metal Inlay Chrome Highlight
$0
Packages
No-Charge Scheduled Maintenance
$0
Province
British Columbia
MSRP
$ 49,450
Options
$ 895
Freight & PDI
$ 2,145
Retail Administration Fee (up to)
$ 595
Air Conditioning Tax
$ 100
Tire Tax
$ 20
.
Total Selling Price
$ 53,205

Instructions: Enter the purchase price of the car, the current age of the car, and the
number of years you plan to own the car.
Next enter the number of years to calculate lifetime depreciation costs and the
annual percent return you would expect to earn on your investments.

Finally, adjust the year-to-year depreciation rates (if you don't agree with the default
rates), then click the "Calculate Car Depreciation Schedule" button.

Mouse over the blue question marks for a further explanation of each entry field.
More in-depth explanations can be found in the glossary of terms located beneath
the Car Depreciation Calculator.

Help Purchase price of car ($):

49,550

Help Vehicle's age in years (#):

Help Years you plan to own vehicle (#):

Help Number of years to calculate lifetime costs (#):

Help Expected percent return on investments (%):
Year -->

45
5

20

16

48%

64%

72%

78%

83%

87%

90%

92%

93%

Help Year %
28
Help YTD %
28%

Calculate Car Depreciation Schedule Reset

Help Final vehicle age in years:

Help Depreciation cost:

38,950

Help Resale value at end of ownership period:

11,000

Help Average annual depreciation percentage:

Help Average annual depreciation cost:

7800

Help Lifetime depreciation cost:

351000

Help Forfeited future value:

1245661.27

The Real Cost of Car Ownership

10+

2008-09-01 (updated 2012-09-17)

Average Annual Household Expenditures, 2010

Item

Proportion of Total Expenditure

shelter (home mortgage or rent)

34%

car ownership & operating expenses

food

15%

13%

pensions & Social Security contributions10%

utilities
health care

8%
7%

entertainment
clothing

5%
4%

household furnishing
education

3%
2%

source: BLS Current Expenditure Shares Table

According to the Dept. of Labor's Bureau of Labor Statistics, car ownership costs are
the second largest household expense in the U.S. . In fact, the average household
spends almost as much on their cars as they do on food and health care combined
for their entire family (see table at right).

Since all households have only a limited amount of income, the amount a household
spends on its car(s) is lost money they could have spent on other worthwhile
expenditures, like saving for retirement, education, or the purchase of a home. The
question is, how much is it really costing them in terms of these foregone
opportunities?

Our "Real Costs of Car Ownership" calculator attempts to quantify this. You can use
the default values (taken from the2010 Bureau of Labor Statistics Consumer
Expenditure Survey) or enter what your own household spends each year. Using this
data, the calculator calculates your family's monthly average car expenses. It also
calculates what your family would achieve if it used this amount to make monthly
contributions to a retirement savings account, education savings account, or home
mortgage, instead of spending it on your car(s).

annual vehicle purchase costs (do not include finance charges)

7724/year
annual finance charges on vehicle loan(s)
00 /year
gasoline and motor oil
2000/year
annual car insurance expenses
1800 /year
annual maintenance and repair expenses
500 /year
vehicle rental, leasing, licenses, and other fees
75 /year
Click this button to calculate the total. >>

Calculate

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.
$365.16 /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 $624,927.48
by the time you retired (if you retired at age 67).
College Savings
If you didn't own a car and invested your monthly automobile savings for 18 years
at 5% interest, you'd have $
for your children's college education.

According to the College Board, the current annual cost of college at a public
university is $8,240 per year and inflating at roughly 8% annually. This means the
average cost of a four-year college education in eighteen years is about $137,383. If
you didn't own a car and saved the money instead, you would be able to send a
total of 0.92
children to college 18 years from now using just the money you saved from not
owning an automobile.

Home Mortgage
If you didn't own a car and bought a house using your monthly automobile savings,
you could obtain a
$68,023.83 home mortgage, assuming a 5% fixed, 30-year loan. This would be
enough to cover 40.29%
of the purchase price of the median existing home in the US in July 2012, according
to the National Association of Realtors
The car I bought is a 2016 BMW 428i xDrive Gran Coup. The vehicle costs $49,515,
this includes tax. To buy a car at this price you need more than just money, you
need to be able to start saving 2 or 3 years before hand. Most people dont just
have $50,000 kicking around. You have to start preparing and money managing
whole lot more. It even takes a lot of thinking just to know what car dealership you
will be buying from. There are a lot of options, you just need to choose what best
suits your needs and price range.
Before buying the car you must also think ahead, like how you are going to make
monthly payments. You should also think about gas payments and insurance costs.
Car buying is far beyond just having a large amount of money, it is thinking about
how you are going to manage you money and spend it wisely ans how much you
are going to save. It is a long process, but if you plan ahead it will be less stressful
and worrisome.