$1 a mile?

[Parker_Rider]

So I was going to take my truck (2005 dodge diesel) out to Berkeley to help my BF move in a few weeks. My parents flipped out saying that's not economical at all because it's about $1/mi in maintenance to do that, and driving 2700 miles would be $2700. Therefore renting a U-Haul would be cheaper.

Um, this does not sound right to me. Even if gas were included in that figure, it still sounds too much...

My truck only has 50,000 miles on it, so it's still barely broken in which is why this especially doesn't make sense. Any thoughts? reasons why this is wrong/right?

If it were right, then it makes our whole cross country escapades last year seem utterly ridiculous when at the time my argument for hauling the horses myself (3 horses + 2 horse trailer = 2 trips cross country...) came down to pure economics - pro haulers charge $$$$! And why wasn't the issue raised last year? (sorry, that's a rant...)

[shakeytails]

Methinks your parents just don't like the BF....



ETA- though it probably would be easier and cheaper to fly out and rent a U-Haul, and you'd get to spend more time with him rather than driving.

[InstigatorKate]

So it's cost ya'll $50,000 to keep the truck up so far?

[dmalbone]

yeah... that's not true, sorry. Agree with pp, you haven't paid $50k so far have you? No... Sounds like the parents don't want you to go and are making an excuse. I would much rather fly and rent a u-haul though. It's definitely not worth it to drive that far if not necessary to me.

[MikeP]

Currently, the government is reimbursing employees about 55 cents per mile for using a private vehicle on the job, so while your parents' figure of $1 per mile is high, it's not totally crazy.

Remember, you are wearing out tires, increasing the frequency of servicing and adding to depreciation, all of which, while they aren't immediately "out of pocket" are clearly expenses that will have to be borne sooner or later.

[Parker_Rider]

Currently, the government is reimbursing employees about 55 cents per mile for using a private vehicle on the job, so while your parents' figure of $1 per mile is high, it's not totally crazy.

Remember, you are wearing out tires, increasing the frequency of servicing and adding to depreciation, all of which, while they aren't immediately "out of pocket" are clearly expenses that will have to be borne sooner or later.

I thought of all of that doing rough calculations in my head on the drive home, and while we've replaced the tires once - did I mention last summer's trip hauling the ponies was the trip from hell? - and done some minor upkeep (oil changes, etc), definitely not the equivalent $50,000 that it would come to....

But if it were truly $1/mi + the initial cost of a diesel, it would be wholly uneconomical to own/drive one for any reason. diesel's last >100,000 miles and I doubt anyones pays that much to upkeep their truck (especially those who have 400,000 miles!!).

I think they like the BF (been w/ him 2 years), I think there's something else that's going on... It's good to know I'm not going totally crazy though...

[Ravencrest_Camp]

So it's cost ya'll $50,000 to keep the truck up so far?

If you factor in depreciation, which most people don't since they don't put out the actual dollars for it, then the 50K isn't so wildly off the mark.

[tx3dayeventer]

Currently, the government is reimbursing employees about 55 cents per mile for using a private vehicle on the job, so while your parents' figure of $1 per mile is high, it's not totally crazy.

Remember, you are wearing out tires, increasing the frequency of servicing and adding to depreciation, all of which, while they aren't immediately "out of pocket" are clearly expenses that will have to be borne sooner or later.

Here it is in IRS speak....

Beginning on Jan. 1, 2009, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

* 55 cents per mile for business miles driven
* 24 cents per mile driven for medical or moving purposes
* 14 cents per mile driven in service of charitable organizations

Here is the link if you want to read further: http://www.irs.gov/newsroom/article/0,,id=200505,00.html

[Bhaltair Farm]

$.75-1.00 per mile is a pretty universally accepted figure that rental car companies use when figuring out their actual profit on a rental. In general the more expensive the vehicle initially, the closer to the $1/mile mark that you get.

Having owned several rental car companies and car dealerships I can tell you that if you plan to sell your truck before you hit the 100,000 mile mark you really are spending about $1/mile to drive it when you factor in depreciation, possibly more with today's diesel prices. If you plan to keep it past that point it starts to become less expensive per mile.

[aiken4horses]

So I was going to take my truck ...)

Your truck, right?
Your BF, right?

You can afford to pay your own expenses, capable of driving the distance?

Bye-bye!

[jubilee43]

Your parents are right. It is YOUR decision, but that is the cost with a truck like yours. It would be better to get a Uhaul and save your truck. Most people only look at the cost of gas for a trip but all mechanical things will increase wear and tear with use and thus need maintenance and replacement. Look at this - say you get 30000 miles out of your tires, a full set at $150 each tire is $600. 2700 miles is almost 1/10 the total mileage you would get out of your tires. 1/10 of $600 is $60. There is the cost in tire usage on this trip alone. Thats just the tires!
hope that gives you a different perspective:yes:

[high hat]

$.75-1.00 per mile is a pretty universally accepted figure that rental car companies use when figuring out their actual profit on a rental. In general the more expensive the vehicle initially, the closer to the $1/mile mark that you get.

Having owned several rental car companies and car dealerships I can tell you that if you plan to sell your truck before you hit the 100,000 mile mark you really are spending about $1/mile to drive it when you factor in depreciation, possibly more with today's diesel prices. If you plan to keep it past that point it starts to become less expensive per mile.

I do not drive my personal vehicle on any trips past 200 miles unless I really need the towing capability. I rent something for the trip and use their miles not mine. I'm with your parents. Is the boyfriend going to at least pay you as much as he would to rent the U-haul?

[greysandbays]

It would make more prudent $$$$$ sense to rent something little and cheap to drive there with, then rent a big U-Haul for the actual move.

Unless you just like playing with your truck, then I guess saving $$ and wear and tear doesn't matter all that much.

[Parker_Rider]

So after I worked out all the numbers, including tires/oil changes/other possible mishaps (I'm convinced my tranny is going because last summer seemed to be the summer of blown transmissions...)/depreciation value/gas/etc, and the number seems to be ~.75 cents a mile. (Depends on how I want to replace said transmission ;))

And yes, I do like playing with my truck ;) who doesn't!? I'm in the process of trying to convince my dad that yes, indeed, his initial idea of a supercharger is a fabulous one.. he likes to play with the truck too!

Blah, blah, blah, all a moot point because now BF's parents surprised him by renting a moving truck and offering to pay all his moving expenses.

At least now I know exactly how much it costs to drive my truck! Good news too: It's still cheaper to haul my own horses cross country (even 3 horses with a 2 horse...) than to pay a professional hauler.

[Beverley]

Actually, you forgot to factor in insurance. I heard a figure on the radio not too many months ago that the total cost works out to about .90 per mile- for a car.

[showponies]

This is all great information for anyone who hauls..And for the free loaders who try to hitch rides for $20! I think this subject should be in PH....

[AppendixQHLover]

I charge 1.00 a mile when hauling someone. IF my horse is going we will split that in half since I am taking my own horse.

One girl cancelled at the last minute because she didn't want to pay 60.00 for trailering. Too bad so sad. I just put new tires on that trailer $420.00. I need new tires on my truck. It is 120.00 for a oil change for a diesel.

her mom is driving a brand new lexus and gets a new one every year.

[CatOnLap]

Yup. I hear you about tires- $1800 top replace the 6 michelins on the dually last spring.
Some girl came to look at a horse for sale in my barn and asked if I would haul her new horse home, about 200 miles round trip,(not my horse) and a whole day away from my life. I said there were commercial haulers available for about $300. She said that was too expensive. I said I would charge her $1/mile plus $20/hour for my time. She went with the commeriucal hauler. When I drive professionally in my own vehicle, they give me about $0.75 per mile, and that is just for the vehicle, not even using a horse trailer. They also pay me $80/hr for my time in addition to the vehicle allowance. Where do people come off thinking they can hitch a ride for a case of beer?

PS- to the OP? glad his parents coughed up the truck and you didn't have to fight with yours anymore. Your parents are wise. But wise isn't always the MOST fun...

[Parker_Rider]

Actually, you forgot to factor in insurance. I heard a figure on the radio not too many months ago that the total cost works out to about .90 per mile- for a car.

Ahhh crap, you're right!!! I knew there was something I was forgetting - always is.

It is great info for all of us who haul, puts things into perspective for sure, especially for those who think "oh it's just your truck, we can use it for free!" (Not, you know, those people we care about, the others who are our friends only to be able to move things).

And CatOnLap, you are so right - wise isn't always the most fun ;) but dang it, I hate it when my parents are right!! ;)