in fairness to you an hawaiianbrah I'll admit that the $10k is pretty close to an upper limit on that one... any
maybe rounded up as well.
So my napkin calculation was roughly $30k for the base auto, financed at $500/month for 5 years. $1000/year on insurance and $50/week on gas.
$500 * 12 = $6000
$50 * 52 = $2600
+$1000
total = $9600
In the above calculation there's $0 spent on service & $0 on financing interest. The theory is that as age goes up, the annual repair cost increases as well.
I think there's also a bit of a confound in the fact that I'm operating in Canadian dollars where my numbers might be inflated... as well, I haven't owned a car myself since somewhere around 2005.
My payment at the time was $450 on a Mazda 5.
All said and done though $5k to $10k is not a wildly unreasonable range. Which I think we were generally agreeing on.