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Question about operating, repair and maintenance costs
Greetings all!
I am a student at Cal Poly Pomona. For my asset allocation class, we are charged with the task of analyzing the financial implications of purchasing, owning and maintaining a car. It would have been easy enough for me to analyze the ownership of my own vehicle (a 2006 Toyota Corolla with 1.8 Liters of fury under the hood), but I wanted to use the presentation to do something really special. I want to use that time to share with the class one of the most awesome cars to ever take to the streets. I want to share with them the DMC-12 DeLorean from the early eighties. I have, however, run into a bit of a "roadblock" (pun intended). It seems that there is very little information available on the required recurring costs on this, or pretty much any other classic car for that matter. Current values are available, as well as retail costs of the cars from when they were new, but there is a very large gap in between. I am hoping to find someone among what I am sure is a wonderful community of passionate owners who will be willing to take some time to share their experiences with me, and my class by proxy. I am interested to know the actual costs associated with owning one of these icons from the early eighties until now.
I understand that time is valuable, but virtually any input on this topic from this community will really help me go the "extra mile" (pun intended again... sorry) on this project and share what I believe is a very important piece of automotive history with my classmates.
Specifically I am trying to attach credible numbers to things like:
• Unplanned major repairs (engine work, transmission replacement, suspension overhaul etc.)
• Routine maintenance (oil changes, belt / hose replacement, brake servicing)
• Collision repair (what did it take to get the car back up and running after a collision)
• Insurance cost
• Cosmetic maintenance (they don’t make cars from unfinished stainless anymore so I have no idea what it takes to keep these things beautiful)
For any of these a ballpark cost number would suffice, but would be best if that estimate was grounded in experience. In addition to the cost estimate, a mileage and year estimate would be greatly appreciated as it would help me place the incident at a point in the vehicles life, and at a point in history economically (so I can account for inflation and all that).
For this assignment, it is required that we do a detailed financial analysis, but the instructor has made it clear that the numbers cannot be simply made up by us students. For this reason I am appealing to actual owners of these legends to share their experiences if they can recall what any of these things cost. This way in the assignment, I have something to point to that says “This is where this number came from”.
Thanks in advance for your help!
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