AFSCME 3357-HOF'S BLOG

How much does it cost to tow your bass boat?


Here's an Edmunds.com "True Cost to Own" printout on a Ford F150 4wd.

2005 Ford F-150 True Cost to Own ratings at Edmunds

Over 5 years, this vehicle will cost $46,124 or $.61 per mile. Like most vehicles, a higher percentage of the cost to own is depreciation than fuel. Depreciation is $5659 in year one but goes down to $2303 in year 5. With fuel costs of about $2000 for 15,000 miles, it's easy to see how drivers of full-sized trucks don't sweat fuel prices much. It's the price of the truck itself that predominates.

Incidently, Edmund calculates the TCO for the Toyota Tundra at $45,165 based on slightly lower depreciation and operating costs. On the other hand, the 2005 GMC Sierra 1500HD is rated at a True Cost to Own of $53,375. So, if you can believe these figures, you can buy yourself a $7000 vacation in Hawaii (or a used bass boat) every 5 years just by choosing a Ford over a GMC. And if you really wanted to save money, you could get a 2004 Dodge Ram Pickup 2500. This is an even bigger truck than those described above, and instead of sucking down $2000 in gas a year, it slurps $2700 to $3000. Even with the extra gas money, the True Cost to Own the Dodge over 5 years is only $43,707. What's the difference? Depreciation. First year depreciation is only $2,891. Fifth year depreciation is only $1859.

From a public policy standpoint, we will not achieve meaningful fuel savings until the cost of fuel relative to the total cost of ownership goes up substantially.