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Thursday, March 24, 2005
Cost of driving
According to the AAA, the average cost to drive the average an average mile is 56 cents. A few days ago, I posted some rough numbers on the cost of commuting. I came up with $33.50 to drive a BMW X-5 20 miles to work. That included $2.50 for parking. My figure was $1.55 per mile for the lease, insurance, gas, and maintenance. That's a lot more than the 56 cents AAA suggests.On the other hand, AAA's average is based a "Chevrolet Cavalier LS, a mid-size Ford Taurus SEL and a full-size Mercury Grand Marquis LS." The Cavalier lists at about $16,000. The Taurus lists at about $23,000. The Mercury lists at about $30,000. But, the BMW X-5 goes for about $50,000. If the price is twice as much, insurance and depreciation will be twice as much. Gas consumption will also be higher. It might well cost $1.00 or so to drive a new X-5 a single mile; that's still 1/3 lower than my original estimate.
3WN regrets its original poor research and bad estimates.
