Cut Vacation Travel Costs
This weekend, my son-in-law's family of 7 are in Waco, Texas at a conference.
Anyway, he is at the conference. I don't know where his wife and kids are.
He drove 811 miles to get there. He will drive more miles to get back. They will do some sightseeing. Let's say 1,700 miles.
He rented a Hertz SUV for $20 a day. He got a special deal. He shopped. He picked up the car locally.
He will be gone for a week: $140.
What if he had driven his own car, also an SUV?
Consider depreciation costs per mile, minus gasoline.
AAA estimates gasoline cost per mile at around 12 cents. (Gasoline is more expensive this year than in 2018.)
The IRS authorizes total depreciation per mile of 58 cents.
Subtract 12 cents from 58 cents = 46 cents per mile.
Multiply 46 cents by 1,700 = $782.
So, by renting the SUV, he saved $642 in depreciation.
If the rented car breaks down, he gets a replacement.
This is not rocket science. Rent a comfortable car when you go on a driving vacation.