At All Costs?
It may look like a deal, but calculate the true cost to own first.
Before buying your next business vehicle, check out how much it
costs to own and operate. Don't just calculate fuel
economy--taking into account the true cost to own, or TCO, is the
smartest way to budget transportation over the long run. Ongoing
expenses include maintenance, fuel, repairs, insurance, financing,
depreciation, and state taxes and/or fees.
Several websites have tools to calculate the TCO for vehicles.
The most comprehensive and easiest to navigate is Edmunds.com, where the
costs of ownership for models in every class of car and truck are
listed (you'll need to add your ZIP code). Edmunds.com provides
a breakdown of major operating costs; the vehicle's true market
value price, including options, delivery charges and taxes; and
links for comparisons with similar vehicles.
Another site, www.intellichoice.com, ranks the top 10 2005 cars and
trucks in several categories, including lowest ownership and
operating costs, and highest retained value. The company also
publishes buyer guides.
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For fleet owners, www.runzheimer.com offers a fee-based comparative
Fleet Cost Analysis service, as well as The Runzheimer Plan of
Vehicle Standard Costs, which is used to reimburse company drivers
of employee-provided business vehicles.
Editor and consultant Jill Amadio has been reporting on the
automotive industry for 26 years.