Seven years ago we bought a 93 suburban with 68K miles on it for $6000.00. It now has 109K miles. Last week I put $950 in steering, suspension, fuel pump, distributor and power steering pump and hoses and a brake line. Also put a set of tires on it for $700. So, I've got about $7650 in it for 7 years, so $91 per month. 41K miles in 7 years, so about 5800 miles per year. I forgot I put two tires on it soon after I bought it, so that's another $300. So, lets say $8000 if 7 years, or about $1150 per year, or $95 per month.
Anyhow, I plan on $1000 per year in car repairs per vehicle and put that money aside every year. If I don't use it, I keep adding to the fund anyway. After 35 years, believe me, we have plenty for emergencies! :laughing:
With that said, its an old truck! It has anti-lock brakes and that's about it. No airbags. So, its not a very safe vehicle by any stretch of the imagination. But its dependable and suits my needs. Its comfortable and rolls down the road just like anything else. It gets my tractor to the farm and back and hauls big stuff for the family. And that's all I need it for. We have a 2013 car that meets my wife's criteria, that being nice enough to drive to funerals and weddings.