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Money and Finances
Reply to "Car ownership is now a luxury"
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[quote=Anonymous]Supposedly, the annual cost of owning a medium SUV per year is around $6700 (which assumes you don't have a car loan). This is just looking at annual fuel, insurance, maintenance and license/registration/taxes, assuming you drive 15,000 miles per year. In theory, if you pay cash, you would add the interest you aren't earning on that money to the annual total as well. Fuel costs are $2,200 of the above number, so if you drive 5,000 miles you would reduce the fuel cost accordingly. [/quote]
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