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Costliest car-ownership cities
Where you live can add thousands to your car ownership costs.
August 1, 2005: 9:14 AM EDT
By Les Christie, CNN/Money staff writer
NEW YORK (CNN/Money) - It costs more to own a car in Detroit, an amazing $11,844 a year for a mid-sized sedan, than in any other city in the country,
according to a new report comparing the cost of car ownership in various a U.S. cities.
Released Friday by Runzheimer International, a management consulting firm specializing in transportation reimbursement, the survey revealed that
insurance, at $5,162 annually for liability, collision, and comprehensive coverage, is the biggest single reason that maintaining a car in the Motor
City is so expensive.
Runzheimer calculates costs based on a fully loaded 2006 Ford Five Hundred SEL with a 3.0 liter, 6-cylinder engine. The calculation also assumes that
the car is driven an average of 15,000 miles for four years within a 50 mile-radius of the city.
Philadelphians would pay nearly as much, $10,672 with $4,142 going to pay for insurance, as would Los Angelenos, at $10,361, including insurance costs
of $3,225.
The same car would cost just $7,399 a year in Knoxville, Tennessee., a savings of $4,445 compared with Detroit.
Maintenance costs also vary quite widely, from a high of 7.35 cents-per-mile in San Francisco to a low of 4.69 cents-per-mile in Bismarck, North
Dakota.
This list shows the car ownership costs of selected cities from around the country:
Detroit -- $11,844
Philadelphia -- $10,672
Los Angeles -- $10,361
Boston -- $9,660
Miami -- $9,216
Baltimore -- $9,125
Denver -- $8,949
Houston -- $8,467
Topeka, KS -- $8,078
Grand Forks, ND -- $7,423
Sioux Falls, SD -- $7,401
Knoxville, TN -- $7,399
If I fail math, there goes my chance at a good job and a happy life full of hard work.
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JawnDiablo
Posting Freak
Posts: 12139
Registered: 4-21-2005
Location: 1902666
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Philadelphians would pay nearly as much, $10,672 with $4,142 going to pay for insurance,
Philadelphia -- $10,672
i am still waiting for my insurance to drop
its paid for and still runs like new
i am 30 and the points are gone
gas is $2.50 a gallon for the 87 octane
glad i have a honda, low maintenence, high residual value and good on gas
not very fast at all but then again, cars have gotten me in way too much deep shit in past years. i hope to drive it till 200K miles...73000 on the
clock as we speak...
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