2.2 KiB
2.2 KiB
What am I doing
Figuring out how much things cost for the truck compared to buying a WRX Yichen, the seller, is (maybe) getting deported--so he wants to sell his WRX. He made me a competitive offer.
What are the cars
| Property | WRX | F150 |
|---|---|---|
| Year | 2015 | 2015 |
| Mileage | 35,000 | 70,000 |
| Fuel Econ | 21/28 | 17/24 |
| HP/Torq | 268/258 | 365/420 |
| Weight | 3267 | 5540 |
| Seats | 5 | 5 |
| Tow Cap. | 2000 | 10000 |
What do they cost
Capital Costs
| Cost | WRX | F150 (Fair) |
|---|---|---|
| KBB Value | $15k-18.5k | $19k-22k |
| Sales Tax (7%) | $1050 | $0 |
| Title Application | $67 | $0 |
| Plate Transfer | $10 | |
| Cost to physically get the car |
$300 | |
| Cost to have mechanic inspect the car |
$300 | |
| Subtotal: | $16.7k / 20.2k* | $19k-22k |
| Sales tax was calculated at sale price of $15,000, which Yichen already offered. |
Operating Costs
| Cost (Per Year) | WRX | F150 (Fair) |
|---|---|---|
| Registration | $48 | $111 |
| Inspection | ~$80 | ~$150 |
| Gas (6000 mi) | $875 | $1105 |
| Maintenance^ | $652 | $701 |
| Insurance^^ | $736 | $824 |
| Subtotal: | $2391 | $2891 |
| ^Sourced from RepairPal.com | ||
| ^^ Quotes on similar policy from Liberty Mutual |
Cost Summary
The expected cost of purchasing the WRX is $16,700. An easy Instant-Cash-Offer from KBB puts the truck at $18,450. The yearly cost of owning the truck vs. the WRX is $500 more.
Questions to Answer
- Am I missing anything here?
- How should I think about depreciation?
- How does one move a large amount of money all at once (bank wire?)?