A while ago, I wrote a very simplistic analysis of the costs involved in owning a car. At that time I used data that I found online to create a very optimistic estimate for the US and I suggested that if someone could provide me with proper data, I would be willing to recalculate it for Romania as well.
Well, someone else has done this for me, so if you’re interested go ahead and check this out for the Romanian estimate. Our estimates are actually surprisingly similar, with theirs being higher because it’s in Euros versus US Dollars. Possible reasons for a higher estimate may be more reasonable assumptions (my estimate was exaggeratedly optimistic), as well as higher gas prices, a more expensive car to start with and perhaps higher taxes as well.
This summer, me and my friend Tudor did what I call a brief “over-a-cup-of-tea” analysis of the costs involved in owning a car. We were absolutely shocked by what we calculated, even with our rough estimates. It looked like a car was the largest financial black hole in any person’s life (at least until kids come along). I will now follow-up with a better estimate, if still not a very precise one. Read more