True cost of ownership

ME: We should buy a 4R because with resale value and low cost of maintenance, it has one of the lowest cost of ownership for an SUV!

WIFE: But what about all these mods you want to put in it?

ME:


Only spent a $1k so far, but the true cost of ownership maybe much higher than I thought...hahaha. Rago dash mount + Ram phone mount, Yakima LoadWarrior basket, ARB Diff breather, Canvasback Cargo liner, center console tray, door inserts, and glove compartment organizer. Does air compressor, tire deflater, and snow chains count? Lol

 

I've put 1300-1400 in so far. Kyx nerfbars, sportsman x pushbar and new memphis audio speakers. I plan to get a 4channel amp and have the new Motorola wireless android auto dongle on order. Oh I forgot swapping my roof rails for the TRD roof rack. That was maybe 1100 installed by the dealer.

 

I stopped counting at $5k, it’s like friggin needle fever!

 

Check out the true cost of ownership at this Edmunds site.
https://www.edmunds.com/toyota/4runner/2021/cost-to-own/?style=401865731
The 5 year COO includes insurance, maintenance, repairs, taxes&fees, financing, depreciation, fuel.

For example, the true 5 year cost of ownership of a 2021 ORP is $41,521. Compared to a Camry which is $29,730. This is dependent on your location (zip code). And of course how many mods you add .

 

True joy of ownership = priceless!

No sir, those are safety necessities…just like lights, sliders and skids.

 

Nice silver rig!

 

Hahahahahahahaha!!! Amazing post!! Could not be more accurate OP

 

One CAN buy a 4Runner, insure it, register it, drive it, fill it with gas, change the oil, and be perfectly happy with that. The chances of doing that while being on this forum are microscopically small, however.

 

That would be me.

 

Ok, this kinda shocked me until I calmed down and thought it through.

I have to own a reliable car, and my last one was used up. Camry’s are ok, but Ive already done the whole responsible car purchases thing.

Since I already need a car, really the 4runner is a 12,000 dollar premium over my normal reality, over 5 years. So about 2500 dollars per year. I do most of my own maintanance, so take that off, say 500 off per year average. It’s hard to predict the future, but right now Id probably make a profit on selling it, so depreciation O instead of 10k over 5 years, so minus 2k per year.

So as you can see, my math skills have netted a much more accurate “lived experience” number of $O per year perceived actual true cost of ownership (PATCO index).


(who am I kidding, in five years, Ill probably sell on Bring A Trailer for 70k. How are we not supposed to buy a 4runner? )

 

It’s called if you have reasonable means buy it.

If there is one thing this pandemic taught me is to value the precious time we have here on earth. I am not saying be materialistic.

But enjoy life and finances within reason. Most importantly hug your wife and kids more be thankful you have them. I have some cars and none of that so count your blessings boys and get the 4R or whatever your desire.

 

In my case I come up with around $20k over 5 years using their methodology. For S&Gs I estimated the numbers for my Jeep and it is almost double that using the 1993 numbers.

@mac1usa That is an X-ringer, buddy. Amen

 

It never ends. I bought a pro and justified it because I wouldn’t have to mod it.
Someone asked me the other day how much money I put into it. Hahahaha. No answer.

 

The Edmunds cost of ownership model is buy it, finance it, drive 15,000 miles per year, then sell it.
I’ve owned mine for 4.2 years and do my own maintenance after the first two disastrous dealer oil changes. So maintenance costs in my 63,000 miles to date consisted of oil, oil filters, air filters, diff fluid, transmission fluid, transfer case fluid, grease, cleaning supplies, windshield wipers, tools like grease fittings and a filter wrench. I bought one set of new tires. So in my case their maintenance numbers are too high.

Repairs are a $100 deductible windshield, lower than their number. Yearly registration fees are about $400.

The big expenses are insurance and fuel, which about match theirs.

Taxes and depreciation don’t come into play until I sell it, and I keep my vehicles for 10 or more years. So F the calculations, I’m just gonna enjoy driving it.

 

When does the Edmunds Cost of Ownership Model recommend to sell it? Big part of the equation.

I hope to have this 2021 4R for at least a dozen years and I will be 71.

 

The model is based on 5 years of owning it then selling it to recoup your cost minus depreciation. I don’t think they make any other recommendations. But I remember the Car Talk guys (Click & Clack) recommending the most economical thing is to buy the car you love and keep it for at least 10 years, maintaining and repairing it as needed.

 

Thanks! I agree with the +10 yrs / till they die model. However, my wife would like a new car every four years.