Calculating the true cost of car ownership
Here are the costs so far. Maintenance includes the service, two front tyres and wheel alignment, a battery, car washing, and a couple of random repairs.
- Parts & Maintenance: R4,539
- Licensing: R872
- Petrol: R11,854
- Parking: R410
- Fines: R615
- Santam 3/F/T insurance: R2,989
But there's more: the car's current book value is R59,200 according to Santam, a depreciation of R13,600 since purchasing, bringing my total costs incurred during ownership to R34,879. Divide by 19,100km travel gives a complete running cost of R1.826 per kilometer. Yet of this cost, petrol only makes up 62c.
So, at least for me, petrol is only one-third of the all the costs I've incurred owning a car. Note: I've include costs not part of proper Total Cost of Ownership: namely avoidable costs (fines/parking) and mileage-dependent costs (petrol,repairs).
Edit: Added insurance costs split out licensing as Alapan suggested, qualified total as "costs incurred".