I opened up excel and brought out all of my receipts for the 16 months of Mustang ownership. I added them up and I had an eye opening experience, my Mustang is costing me at least $1k per month. Here are some rounded monthly figures...

$550 Ford payment
$100 Auto Insurance
$175 Shell Gasoline, $3.499/gal, 20 mpg, 1k miles per month.
$100 Modifications, $1655 total/ 16 months.
$50 Maintanace; oil changes, cabin air, wiper blades, etc.
Total $1000 per month.

Yet to be considered, 4 wheels and tires at 20k for $1200.
Our little hobby is expensive!

 

Yes.
Next question, please?

 

yea but i think your figures are slightly skewed.

1. Any car is going to have payments..unless yuo buy it outright
2. Any car is going to have insurance...and try paying $300+ a month
3. Gas will always be an issue..unless you go for a smaller economical car
4. Mods are a personal choice...you do not have to purchase if you want to cut costs
5. also all cars require maintenance

So while I see where your coming from. You also need to consider that most of those costs will be associated with any car you own.

 

$50 a month in maintenance?? I spend about $26 a month on maintenance, I drive about twice as much as you do, and that includes $400 for new tires a few months ago. $766 total spent, 60K miles on the car, owned it for 30 months.

 

Of course, are you kidding?

My payments started out under $280/mo. for 60mo.'s (much lower now) I had to put 1/2 down to get enough credit for it to be worth it for Ford.

I don't drive mine from November-March/April.
Under 3k a yr. keeps maintainence at a minimum $50 or so a yr. fuel stabilizer, oil, and filter
$150/Mo. for insurance

Costs me around $400 Month before my mods.

 

Is a Honda worth $750?

Cars are a total waste of money. I love wasting money.

 

Gotta love the pony! I know I fall in love all over again everytime I open the garage door.

 

...............+1

 

It is worth it, as I realized yesterday.

I took the car out from its winter hibernation for the first time yesterday. That felt gooooooood. It's been too long since I had that feeling in my gut!

I even took it out without insurance on it! Such a rebel.

 

Mine cost are usually related to modifications.
Oil changes and gas are normal cost.

Car has no payments (free and clear)

 

I don't even want to know how much I spend a month with mods and installation. Everything adds up quick.

 

I've been driving an Escort to work and back to save on gas cost since I drive 30 miles each way. I also just changed car insurance companies and my cost for that was cut in half. I'm happy, the money I spend on the car is well worth it.

 

that is scary funny but very true

 

yep i thought about it that way and then mustang made a lot of sense for me

 

My payments (Roughly).

$810 - Ford Payment
$115 - Insurance
$60-70 - Gas (I have another car I drive off and on).
$80 - Mods (Averaged over the 22 months I've owned it)
$20 - Detailing products
$20 - Averaged for maintenance (Oil change, rotation).

All that into account I spend on average $1100 a month on my Mustang, it costs me more than my mortgage and utilities all together. Take all that and then understand that I only get to drive the car 5 months a year due to roads & weather (it snowed this past weekend and likely will snow next week) and I still find it worth owning. I might be able to save $500 a month on a different vehicle but I wouldn't be as happy. I'm selling my house soon and the equity I have will pay off my car, bills, visa, debts etc. and free up a wack of money per month and leave me with 70,000 in the bank. The mods are just going to get more expensive!

If you're wondering why my payment is so high, I paid sticker - $500 only put $500 down on the car and added $2500 in stuff to the car purchase price including the extended warranty. See I was one of the lucky ones that missed not only the rebates that Ford offered in 2006, but also the free extension to 5 year warranty by a month and a bit. Take into account this was before the pricing equalization that Canadians now enjoy and I certainly take more of a bath on my car than a lot of people.

 

I think this car, and the mods that I have done to it have done more for my happiness and sense of self worth than most any other thing I waste my money on. It has made my drive to and from work a highly enjoyable experience, and is always the source of a good fun project. all in all it is more than worth it to me.

 

Hell, in 28 months of ownership I'm at $750 per month...in mods alone. I think I just won't factor in the rest of it...

 

Yes!

 

I'm right there with you.....about $770 per month over 26 months of ownership. I really wish I had not calculated that number!

 

I thought that your post was asking about $1K per month in mods!