These events have me concerned that I'm at the point where I'll have to shell out significant coinage every year to keep my aging American ride running,

As opposed to shelling out insignificant coinage to make the payments on a new car?

Keep in mind that $850 is less money than a single month's payment on a new car given a few premises like a $35K price and three-year financing at 6% annual interest.

"...aging American ride"?

The newest car that I own is more than twice the age of your car, with nearly three times the mileage! My annual repair and maintenance bills would make you turn pale if $850 scares you... yet my cost per mile is only a fraction of what it would be with a new car.

Let's see: Typical new car, 15,000 miles per year...

Depreciation...............$10,000
Gasoline......................$1,500
Insurance.....................$3,500
Repairs........................$0
Maintenance................$150
Miscellaneous.............$200
Total:.............................$15,350

Cost Per Mile: $1.02

I was going to add about $11,000 in car payments to the list, but that would be unfair since I'm adding in the depreciation, and you'll get that money back (minus the depreciation) in the long run when you sell the car. I could be picky, and charge for the interest that $11,000 a year would earn for you if you had it in a CD or money market fund, but, naahhh... I think the numbers are compelling enough as-is.


My ShoWagon, 15,000 miles per year...

Depreciation...............$ 500
Gasoline......................$1,500
Insurance.....................$1,200
Repairs........................$1,500
Maintenance................$ 300
Miscellaneous.............$ 300
Total:............................$5,300

Cost Per Mile: $0.35

I think I'll keep my old car, continue pouring money into it, and pocket the $10,000 I'm not spending on a new one.

tanstaafl.