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by adrianN 2602 days ago
Mister Money Mustache estimates "very cheap" driving costs to be around 17 cents per mile:

https://www.mrmoneymustache.com/2011/10/06/the-true-cost-of-...

Now, I will admit that it is possible to bring your cost per mile down somewhat. That’s one of my own specialties, which is why I still keep a car of my own around for affordable family roadtrips. If you buy the right car for $5,000, you might be able to squeeze 100,000 miles out of it with no major repairs. In this case the car depreciation is 5 cents per mile.

Gas, at $3.50 per 35 miles (assuming 35MPG), is 10 cents/mile Tires, at $300 per 50,000 miles are 0.6 cents Oil, at $25 per 5,000 miles is 0.5 cents Miscellaneous things like wipers and occasional maintenance visits: $200 per 20,000 miles = 1 cent

So the ultimate cheap driving in a paid-off economy car still costs at least 17 cents per mile.

2 comments

It's possible to do even better... I bought a used electric car (Volt) for about $9600. It had about 65k miles. It does about 85% of its miles electric (meaning oil changes and brakes are super rare), so over the next 100,000 miles, we're talking about 14 cents per mile total, roughly.
Many of the assumptions are different for different cars. For my car it is $3 per 46 miles, or $0.065/mile. Note that 46MPG is actual, EPA would give me 41.