Step 1: Getting Started
Okay, let's dive into the step-by-step tutorial for understanding the long-term cost of ownership.
The first step is to consider your annual mileage. If you typically drive around 12,000 miles per year, that's a good baseline. Then, factor in your vehicle's fuel efficiency - let's say 25 mpg.
Step 2: Using the Tool
When you use the Long Term Cost Of Ownership, multiply your annual mileage by the average gas price, which is currently around $3. 50 per gallon in the U. S. This gives you a rough estimate of your annual fuel costs. Next, look at maintenance and repair expenses. Consider things like oil changes, tire rotations, and any unexpected fixes.
