This seems tough to factor in at the individual level, since usage costs will vary dramatically. I suppose the same applies with rental, but ownership costs won’t very as much. They are difficult models to compare both for cost and practical use reasons. They seem fungible, but in many ways they aren’t.

It looks like with fuel considered, my yearly cost rises to about $12k.

There is a distinction between ownership and usage. By simple fact of owning a car, I have some $1-2k annual fixed costs (insurance + registration + minor maintenance). Gas scales with the utilization, which is lifestyle dependent.