How much do you pay per month for your car?
Discussion
£220 a month on mine.
Put simply, needed a bigger car for a new job, and wasn't in a position to save, worked out how much I could afford, then got the bank loan and put it down and drove off.
It was only for 18 months as well as I didn't want to be borrowing forever.
Paid off in September, boy will I be glad
Put simply, needed a bigger car for a new job, and wasn't in a position to save, worked out how much I could afford, then got the bank loan and put it down and drove off.
It was only for 18 months as well as I didn't want to be borrowing forever.
Paid off in September, boy will I be glad
Hol said:
A guy at work has an M135, that costs him £250pm all in for 10kmiles per annum on a lease. He has about 9months left on the lease.
First big service is 20K, so if its got less miles when he hands it back, he does not pay that either.
Im guessing that, with his second years car tax incuded (and im not sure if he even pays for that and the first years is deffo free), you are probably £60pm (a tank of Petrol) better off than he is every month in comparison.
I bet that 1st sentence is wrong. My money is in his monthly payment being £250 but he forgets to mention the £3000 he gave upfront so really if the cash in total is looked at monthly it's £375 each month. The M135i deal was all over this forum when they 1st came out, it's still a cheap way into a damn fast new car though regardless.First big service is 20K, so if its got less miles when he hands it back, he does not pay that either.
Im guessing that, with his second years car tax incuded (and im not sure if he even pays for that and the first years is deffo free), you are probably £60pm (a tank of Petrol) better off than he is every month in comparison.
Herman Toothrot said:
I bet that 1st sentence is wrong. My money is in his monthly payment being £250 but he forgets to mention the £3000 he gave upfront so really if the cash in total is looked at monthly it's £375 each month. The M135i deal was all over this forum when they 1st came out, it's still a cheap way into a damn fast new car though regardless.
Unlikely to be £3k up front. Mine is similar and was more like £1500.You are right in that it is necessary to look at the total paid over the entire period as the monthly sums can be misleading at times.
For my last three cars I've budgeted £8k as a £5k loan plus the £3 or so left over from my old car.
This works out as about 150-180 a month. I'd love to run an older car but need reliability.
My main issue that my commute means I normally sell my cars at 140-150k and they are worth a fair bit less.
But I like having my own car that I can mess about with etc
Currently an e91 320d but hopefully swapping to an Alfa brera 2.4
This works out as about 150-180 a month. I'd love to run an older car but need reliability.
My main issue that my commute means I normally sell my cars at 140-150k and they are worth a fair bit less.
But I like having my own car that I can mess about with etc
Currently an e91 320d but hopefully swapping to an Alfa brera 2.4
forzaminardi in the OP said:
For all the normal non company director goatee-wearers who through extreme poverty are forced to paying for their motoring on a monthly basis via a loan, HP or (God forbid) lease type deal, how much do you pay per month, and what's the car?
And do you think this is more or less than the 'average'?
And do you think this is more or less than the 'average'?
jimi said:
2014 Mercedes ML250 - Per month £0.
You have a loan, HP or lease for £0 per month? Where do I sign?Hol said:
A guy at work has an M135, that costs him £250pm all in for 10kmiles per annum on a lease. He has about 9months left on the lease.
First big service is 20K, so if its got less miles when he hands it back, he does not pay that either.
Im guessing that, with his second years car tax incuded (and im not sure if he even pays for that and the first years is deffo free), you are probably £60pm (a tank of Petrol) better off than he is every month in comparison.
Any deposit? First big service is 20K, so if its got less miles when he hands it back, he does not pay that either.
Im guessing that, with his second years car tax incuded (and im not sure if he even pays for that and the first years is deffo free), you are probably £60pm (a tank of Petrol) better off than he is every month in comparison.
Including VAT?
Family work at BMW?
Special company car scheme?
Etc. Etc.
Cannot believe Joe Public has ever had access to a deal like that on the M135i - I've looked.
re: M135i - was being discussed from about here in the leasing thread: http://www.pistonheads.com/gassing/topic.asp?h=0&a...
edit: also a M135i-specific thread - those lease deals were being discussed from about here: http://www.pistonheads.com/gassing/topic.asp?h=0&a...
But yes, for a while it was very possible for a member of the public to get into a 3-door manual M135i for rather less than £250 a month, with less than £1500 deposit. Mine was only more because it's a 5dr auto with some options.
edit: also a M135i-specific thread - those lease deals were being discussed from about here: http://www.pistonheads.com/gassing/topic.asp?h=0&a...
But yes, for a while it was very possible for a member of the public to get into a 3-door manual M135i for rather less than £250 a month, with less than £1500 deposit. Mine was only more because it's a 5dr auto with some options.
Edited by sjg on Thursday 5th March 14:55
Rick1.8t said:
R8VXF said:
GetCarter said:
NerveAgent said:
Its frightening the amount people spend financing cars.
You say that, but you don't take into consideration how much they/we earn. Which is why I answered the question as I did.Edited by Rick1.8t on Thursday 5th March 14:21
However, to my point - people that spend £500 a month on a car when they are on the national average wage are obviously spending a huge percentage of their income on said car. For others, £500 is not a great sum of money. So the 'How Much' question is somewhat moot.
BTW, I don't spend £500.
HTH
Edited by GetCarter on Thursday 5th March 15:14
NerveAgent said:
the reality is most of the general public see financing a new car as the norm and have no idea its costing the a fking fortune.
Really?Most people plan their finances monthly and a lot of people financing or Leasing cars will be able to afford the monthly payment on it, I'm not sure why people on here are so concerned how people spend their money.
My sister for example has ten year old car, which she is sick of things going wrong with having to pay quite high VED every year plus MOT's etc etc, she has asked me to find a lease deal for 2 years for her with a budget of around £150 - £175 per month - its surprising what good deals are out there for 2 years trouble free motoring, she has no interest in actually owning a car she needs it to get to A to B and a fixed monthly payment (plus fuel of course but modern cars are better on this as well) is very appealing, I would say she is indicative of a large amount of people.
I just don't see why people have an issue with this.
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