How much do you pay per month for your car?

[chrispmartha]

daveinhampshire said:

Nope, I don't bother with any of those.

Eh?

[Mr Trophy]

I am gobsmacked at some of the figures going about here !

I am paying £415 a month for a TT Black Edition. I feel done

[R8VXF]

chrispmartha said:

Ari said:

WTF!?

Who's paying for the car then if it isn't you? The Fairy Finance-mother?

You really don't see the difference in putting £30K cash into a car rather than spreading the payments?

But to get that 30k cash you have to spread the payments back in time to before you buy the car aka saving

[Finlandia]

rich83 said:

£0

Same.

But if fixing things is included...

[JonnyBel]

Is this including fuel!
lol

[chrispmartha]

Finlandia said:

Same.

But if fixing things is included...

if were going down the Lease/PCP versus owning an older car then yes you should include fixing it, servicing it, depreciation, MOT VED etc etc otherwise ts an unfair comparison.

[thatdude]

It seems, for me, to average out about £350 (slight over-estimation on some parts), but this is considering a 12 month period, and not the entire ownership of the car. My insurance is pretty high which accounts for a large proportion of that amount.

That's roughly a fifth of my montly income after tax, NI and student loan deductions. I havnt included depreciation as that only matters if I come to sell the car.

Edited by thatdude on Thursday 5th March 15:39

Edited by thatdude on Thursday 5th March 15:40

[Munter]

Kia Cee'd SW 1.6 diesel

The loan says I have to pay £208ish a month.
Though we always overpay (no charges for overpayments), so last month it was £600ish.

I hated having to get a loan for a car, but 30,000 miles a year it does and I had to have something reliable (which the 2008 ford mondeo just wasn't).

[Finlandia]

chrispmartha said:

Finlandia said:

Same.

But if fixing things is included...

if were going down the Lease/PCP versus owning an older car then yes you should include fixing it, servicing it, depreciation, MOT VED etc etc otherwise ts an unfair comparison.

Fixing, it's had a rough last six months but on average £50pcm for fixing and service, depreciation £0 (it's actually still worth more in Sweden than what it cost in the UK when I bought it), VED £21pcm, MOT £3pcm, that's £74 a month, plus petrol for £200.

[chrispmartha]

Finlandia said:

Fixing, it's had a rough last six months but on average £50pcm for fixing and service, depreciation £0 (it's actually still worth more in Sweden than what it cost in the UK when I bought it), VED £21pcm, MOT £3pcm, that's £74 a month, plus petrol for £200.

What car is it?

[daveinhampshire]

chrispmartha said:

if were going down the Lease/PCP versus owning an older car then yes you should include fixing it, servicing it, depreciation, MOT VED etc etc otherwise ts an unfair comparison.

Servicing and VED have been the same on owned/HP cars, I've not owned a lease one.

I doubt one group saves any money over the other. I don't like paying monthly, I prefer to pay up front. As for my Audi, I'll include the last one as I've not had this long.

Servicing - £250 with long life schedule(every 20k).
VED - £485
Depreciation - bought both well under value but normally 1-2k per annum.
Fixing - Brake pads/disks on rear £200ish and replacement parking caliper £200ish. Other than that it's been plain sailing with both, no major costs.

[Finlandia]

chrispmartha said:

What car is it?

Old model Volvo C70 with the T5 engine.

[Twin1]

AM7 said:

DWS said:

Not easy for younger members I know.

DWS

We'll have less of that thanks! I'm 20 and paid upfront for mine too.

Same here: first car bought at 19 for £7000 of my own hard earned!

[bennyboydurham]

Unless you drive (or rather don't drive, which somewhat defeats the object of a car) an appreciating classic, then no car is free. Every car will depreciate at a given rate and is costing you money just to sit on the drive. Of course if you're into total shed territory then this can be measured in hundreds rather than thousands but most people simply don't want the headaches that come with extreme shedding.

I bought my E65 at two years old when I paid just a shade over 50% of its original list price. It'll be 10 years old in December this year at which point I'm planning on moving it on for a newer F01. I've got every bill and invoice from the time the car has been with me and will be able to figure out a cost overall for those 8 years including interest and maintenance. It'd be interesting to compare this with the cost of having chopped it in four years ago for a new one on lease. I'll do the sums.

[NerveAgent]

07 Focus over 3.5 years

Depreciation: ~£59 p/m
tax: £17 p/m
Mot: £2 p/m
None consumable repairs: £0
Consumables: ~£10 (new pads, wipers, a few tyres etc)

Its got a big scrape down the side but I dont need to worry about that as its not someone elses car.

57 boxster

Not had it long enough for any meaningful figures

Edited by NerveAgent on Thursday 5th March 16:13

[decadent]

£260 / mth on a 4.6% loan.

Sometimes toy with the idea of buying a cheaper estate and spending the rest on something like an e46 M3 however no need for two cars and CBA with the hassle of selling mine.

[croyde]

I bought a Mercury Grand Marquis last summer for £3100 and have just sold it for £4500. The profit covers my little holiday/road trip of flying up to Scotland to pick it up,insurance, VED and fuel used.

That was free motoring. Granted that is rare

[Rickyy]

Citroen C1 VTR+ - £152 PCM on lease.

It goes back in October, won't be financing another car, just going to buy the best I can with whatever I have saved.

Just figured out that the car will have cost me over £6k by the time I hand it back (3yr lease), plus the cost of servicing, which I usually do myself.

I'm quite upset now!

[NooBish AbbZ]

Almost a year to the day I went into a finance deal of £142 a month for my motorbike. 12 months down another 12 months to go. Certainly regret it as I would've been better served spending that money on a practical car now, however, learn from it move on. I'll be buying a car in the near future for cash and while I may enter into finance deals again, it certainly won't be a similar percentage of cast vs salary as this one.

Also, lots of huge numbers in here, £400+ a month? :O I feel shafted for £150 a month. Thought that is in comparison to my part time job wage which is only like £1000 a month

Edited by NooBish AbbZ on Thursday 5th March 16:28

[decadent]

Rickyy said:

Citroen C1 VTR+ - £152 PCM on lease.

It goes back in October, won't be financing another car, just going to buy the best I can with whatever I have saved.

Just figured out that the car will have cost me over £6k by the time I hand it back (3yr lease), plus the cost of servicing, which I usually do myself.

I'm quite upset now!

Wow, my step dad bought a brand new 107 for £5,800. 12 plate, from a dealer across the other side of the country from him. But they had a deal on the time but it wasn't clear that you had to take finance to buy the car, which he didn't want. He got on to trading standards and they ended up selling the car to him, with no mats of course.