Honda Fit Sport, 10 Year Cost of Ownership

So my "fun" cars get all the attention on this blog, but I thought I'd give some credit to my "everyday" car: a 2010 Honda Fit Sport.

In 2010, when I bought it, the Honda Fit was the only car that ticked all the boxes that I needed: (1) big enough to comfortably transport a 150lb. Newfoundland and (2) small enough to easily park in San Francisco. Even today there's nearly nothing else on the market that satisfies these two requirements. The key to transporting huge dogs is Honda's "Magic Seat" fold-down "Utility" rear seat configuration. Because these seats fold flat into the floor, they transform the back of the Fit into a truly GIGANTIC storage space with enough headroom for standing Newfie. All while still being a sub-compact for street parking purposes. Nothing else on the market manages that combination (the Ford C-Max had seats that fold flat, but it's over a foot longer).

But the reason for this post is not to celebrate its unique "big dog, big city" market niche, but rather to commemorate the 10 year operating cost of my Honda Fit.

Let's start with maintenance. After (almost) 10 years and just over 55,000 miles (yes, we don't drive much), here's what my Fit has needed:

  • Maintenance "A" (oil change) service: $62
  • Maintenance "B123" (oil change, air cleaner/filter , transmission fluid, brake fluid, alignment) service: $677
  • Maintenance "A" (oil change, rotate tires) service: $72
  • Maintenance "B12" (oil change, rotate tires, air cleaner/filter) service: $280
  • Maintenance "A3" (oil change, transmission fluid, brake fluid, rotate tires), TPMS sensor (right rear): $635
  • Maintenance "B2" (alignment, oil change, air cleaner/filter, wiper inserts, airbag recall): $440
  • Brake pads, rotors, fluids, TPMS sensor (left rear), air cleaner/filter: $1,003
  • Maintenance "A2" (oil change, air cleaner/filter): $192
  • New battery: $143
  • Maintenance "B" (various submenu items, including serpentine, transmission fluid, spark plugs, valve adjust): $1443
  • Oil change: $55
  • Rear taillight bulbs: $22
That comes to $5024, or just over $500 per year. All of it at the selling dealer (yes, I know, I know, I probably could have saved some by going to an independent service provider and some DIY stuff -- those cabin air filters add up!). 

OK, how about depreciation? Kelly Blue Book estimates that I've lost $8,600 in value from the price I originally paid. A testament to the crazy resale price stability of low-mileage Hondas. 

So, altogether, the ten year cost-of-ownership comes out to $13,624, or approximately $1,360 per year on average. This compares quite favorably to my "fun" cars (Porsche, Corvette, Miata)

Of course, this isn't quite the entire story. This is just regular maintenance costs and depreciation, and thus doesn't include government things (smog, tax, license, registrations), insurance, optional upgrades (cargo cover, window tinting), some typical wear items (like flat repairs, tires), and the like. But all cars have those, so it doesn't change the relative picture. 

So the overall picture is clear: a late-model Honda Fit is a cheap and reliable car to own. I'm hoping to get another 10 years out of it (with escalating maintenance costs, presumably). 

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