Pence per mile?
Discussion
So what's your car costing you? To make things fair from the off include road tax, repairs, fuel and monthly rentals. For those who own/paid for the car, take the depriciation if you were to trade the car in today.
To set things off our Zoe in the house would have cost 50p per mile, hence the reason why having a rented 2nd car isn't worth it for us!
To set things off our Zoe in the house would have cost 50p per mile, hence the reason why having a rented 2nd car isn't worth it for us!
£0.62/mile total for my 51 plate BMW 330d that I bought second hand in 2011. Don't know what its value is now, probably not very much, so I'll go with that figure as the total.
(£0.32/mile for fuel and repairs/consumables/regular servicing/etc. (basically the figure I use to decide if I make a profit from using the car for work). The remaining £0.30/mile is the fixed costs: tax, insurance, MOT fees, the car itself. That figure is a bit depressing if you don't drive much...)
(£0.32/mile for fuel and repairs/consumables/regular servicing/etc. (basically the figure I use to decide if I make a profit from using the car for work). The remaining £0.30/mile is the fixed costs: tax, insurance, MOT fees, the car itself. That figure is a bit depressing if you don't drive much...)
Edited by to3m on Tuesday 21st February 12:36
I'm not really sure on my E Class, it cost me £4k with 104k on the clock. Probably still worth around the same money a year later and does about 38mpg on average (3.2 diesel). I've never really done the maths on that one.
I did work out that on my CLS63, which I bought with low miles but at 8 years old had cost around £3.30 per mile in depreciation alone from it's new price!
I did work out that on my CLS63, which I bought with low miles but at 8 years old had cost around £3.30 per mile in depreciation alone from it's new price!
29PPM currently excluding depreciation. Assuming a worst case of it being worth £1100 it's 37PPM.
http://www.pistonheads.com/members/showcar.asp?car...
http://www.pistonheads.com/members/showcar.asp?car...
2016 Honda Civic 1.6 i-DTEC Sport on a 2 year lease (25k per annum maintained)
Initial rental = £2160
Monthly = £240
Fuel = £48 per week roughly.
Servicing, brakes & tyres = Included in lease cost.
MOT = N/A due to car age
Road Tax = Included in lease cost.
Assuming that I do not go over the mileage which I doubt I will =
(2160 + (240 x 23) + (48 x 52))/25000 = 40.7p per mile
That actually sounds pretty steep, but I do a lot of mileage in a brand new car and the place I drive to pays me around £8 per hour more than I could get elsewhere.
There are definitely cheaper ways to do that much mileage but I decided to treat myself to a new car after working hard and making compromises for the past few years to get on the housing ladder.
Initial rental = £2160
Monthly = £240
Fuel = £48 per week roughly.
Servicing, brakes & tyres = Included in lease cost.
MOT = N/A due to car age
Road Tax = Included in lease cost.
Assuming that I do not go over the mileage which I doubt I will =
(2160 + (240 x 23) + (48 x 52))/25000 = 40.7p per mile
That actually sounds pretty steep, but I do a lot of mileage in a brand new car and the place I drive to pays me around £8 per hour more than I could get elsewhere.
There are definitely cheaper ways to do that much mileage but I decided to treat myself to a new car after working hard and making compromises for the past few years to get on the housing ladder.
I'll play....
My E90 335i:
Owned - 24 Months
Miles covered - 5,352
Depreciation - No idea
Fuel - 5352 @ 26mpg = £1122
Warranty costs: 16 x £46 = £736
Other costs - £2200
Tax - 2 x £285 = £570
Insurance - 2 x £450 = £900
Total running costs - £5500 ish
Cost per mile - £1.03 not including depreciation (I don't think it has lost much value if any)
...Ouch
My E90 335i:
Owned - 24 Months
Miles covered - 5,352
Depreciation - No idea
Fuel - 5352 @ 26mpg = £1122
Warranty costs: 16 x £46 = £736
Other costs - £2200
Tax - 2 x £285 = £570
Insurance - 2 x £450 = £900
Total running costs - £5500 ish
Cost per mile - £1.03 not including depreciation (I don't think it has lost much value if any)
...Ouch
2005 Lexus GS300
-£2,860 fuel @ 110p/litre,
-£600 insurance (business use)
-£280 tax
-£500 depreciation
-£50 MOT
-£70 reversing camera
-£300 service @ Lexus
= £4,660 / 14,000 miles
= 33ppm
I get repaid 45ppm + 290/month so not doing too badly so far! We'll see what 2017 brings, already had a new set of tyres at £350, and due a big Lexus service.
-£2,860 fuel @ 110p/litre,
-£600 insurance (business use)
-£280 tax
-£500 depreciation
-£50 MOT
-£70 reversing camera
-£300 service @ Lexus
= £4,660 / 14,000 miles
= 33ppm
I get repaid 45ppm + 290/month so not doing too badly so far! We'll see what 2017 brings, already had a new set of tyres at £350, and due a big Lexus service.
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