New YouTube Channel Calculates True Cost to Own Any Vehicle

This YouTube channel calculates the true cost to own any vehicle. This includes the purchase price, insurance, gasoline, maintenance, and interest. The channel is still small, but it’s dedicated to providing this information for any vehicle. For example, the Chevrolet Tahoe Z71 has an MSRP of $68,295. With taxes and fees, the total cost to get the keys is about $76,000. A 10 percent downpayment would be $7,600, and with 8.0 percent interest over 72 months, the monthly payment is about $1,200. Over six years, the interest will add up to about $18,000. Then, if you add in about $175 a month for insurance, between $250 and $275 a month for gas and a $75-ish monthly maintenance budget, the monthly cost to own is a little more than $1,700. To afford that Z71, you would need to make more than $137,000 annually. Over the course of the 72 month loan, you would end up paying more than $131,000 for the privilege of driving that $68,000 Tahoe.

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