I have learned from previous experiences that owning a car longer didn’t necessarily always make any financial sense. And that’s the reason for selling my 2006 Toyota now.
The purchase price of my 2006 Toyota Corolla was $16,371. I paid $1,023.19 of taxes on it. Plus standard Doc fee of $250 and title fee of about $35. I also had a set of snow tires and rims for $600. The total cost amounted to $18,279.19.
The Toyota was sold for $5,000 right after it was listed for sale, which reduced the total price of the car to $13,279.19. I had owned it for 11 years, so it’s $1,207.2 per year or $100.6 per month. Maintenance was $100 per year or $9 per month. Insurance was $60 per month. Factoring these in, the total cost of transportation was $169.6/month. It cost $9+ less per month than the 1998 Honda CR-V.
All in all, I was very happy with owning this Toyota.