What is True Cost to Own?
True Cost to Own is an estimation of the total cost of ownership. Edmunds, a leading automotive resource, makes a few assumptions about an average driver in calculating its true cost to own. So, when you use Edmunds’ helpful tool, you’ll know what factors to take into consideration. That way, when you choose your next new Mazda or pre-owned vehicle around Caldwell, you’ll know the total true cost of ownership. Learn more here at Dennis Dillon Mazda!
About True Cost to Own
True Cost to Own is Edmunds’ estimation of the total cost of ownership over a 5-year period, based on vehicles with a traditional 60-month financing plan. The driver Edmunds envisions has an above average credit score, puts 10% down, and drives 15,000 miles per year. There are a number of factors Edmunds using when calculating the True Cost to Own, including:
- Total Cash Price – This is the total amount paid for the vehicle, including added equipment and accessories, destination charges, taxes, and other fees.
- Depreciation – This is the amount of value the vehicles is estimated to lose, with an assumption the vehicle will have been driven 15,000 miles per year and will be in clean condition.
- Insurance – This is the car insurance premium amount in the state of ownership.
- Financing – This is the amount of interest over the course of your 60-month loan.
- Taxes & Fees – This is the tax for use, license, and registration of the vehicle in the state of ownership.
- Fuel – This is an estimated spend on gas, based on 15,000 miles of driving per year and the EPA-estimated fuel economy of the vehicle.
- Maintenance & Repairs – This is the amount the average driver is expected to pay for regular upkeep of the vehicle over a 5-year period.
- Federal Tax Credits – If the vehicle under consideration is under the Energy Policy Act of 2005, then the tax credit received will be subtracted from the total.
Find Out Your True Cost to Own with Your Nampa-Area Mazda Dealer
Drivers in Nampa trust the team at Dennis Dillon Mazda to help them choose the right car for their budget, as well as advice on a variety of Mazda service needs—from oil changes to when to replace brake pads. Our dealership is located just a short distance from Caldwell. Questions? Don’t hesitate to contact us today.