How much do you pay per month for your car?

How much do you pay per month for your car?

Author
Discussion

R2T2

4,076 posts

121 months

Thursday 5th March 2015
quotequote all
£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 gladsmile

Herman Toothrot

6,702 posts

197 months

Thursday 5th March 2015
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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.

jimmyVX

687 posts

206 months

Thursday 5th March 2015
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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.

Vocal Minority

8,582 posts

151 months

Thursday 5th March 2015
quotequote all
£0

because its an 04 plate Celica frown

jimi

521 posts

262 months

Thursday 5th March 2015
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2014 Mercedes ML250 - Per month £0.


Matttracker

630 posts

146 months

Thursday 5th March 2015
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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

simoid

19,772 posts

157 months

Thursday 5th March 2015
quotequote all
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'?
jimi said:
2014 Mercedes ML250 - Per month £0.
You have a loan, HP or lease for £0 per month? Where do I sign?

SimesJH

768 posts

150 months

Thursday 5th March 2015
quotequote all
£285-ish / month for my Mustang as a personal loan.

I could have paid for it outright but that would have incurred an unwelcome tax penalty, so the loan worked out the better deal.

The other cars we own were bought without any finance.


swanny71

2,849 posts

208 months

Thursday 5th March 2015
quotequote all
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?
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.

neilf

822 posts

110 months

Thursday 5th March 2015
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£305 for the M135i bought new May 2013 (3yr deal - can't remember the deposit)
£570 for the Boxster bought new April 2014 (4yr deal - £3500 deposit)

Nearly changed my mind last minute on the Boxster as the Merc dealer next door were doing C63's for £375pm!

sjg

7,444 posts

264 months

Thursday 5th March 2015
quotequote all
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.

Edited by sjg on Thursday 5th March 14:55

croyde

22,701 posts

229 months

Thursday 5th March 2015
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One payment back in 1998 of £18,995 for my E36 323i BMW.

Have put a deposit on something new but undecided how to pay for it. Might try PCP if reasonable but I'll keep the Beemer as it's done me proud.

GetCarter

29,358 posts

278 months

Thursday 5th March 2015
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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.
Did you answer NET or GROSS though?
Bah, does that matter, he just wants to tell everybody how rich he is... bla bla bla 2% of my income per month bla....

Edited by Rick1.8t on Thursday 5th March 14:21
No, I don't feel the need to do that. If I had, I would have told you how much I spend.

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 smile


Edited by GetCarter on Thursday 5th March 15:14

chrispmartha

15,360 posts

128 months

Thursday 5th March 2015
quotequote all
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.

chrispmartha

15,360 posts

128 months

Thursday 5th March 2015
quotequote all
jimi said:
2014 Mercedes ML250 - Per month £0.
I would say unless someone has bought you the car and pain the VED thats impossible.

daveinhampshire

527 posts

125 months

Thursday 5th March 2015
quotequote all
07 Audi A8L - £0

I had one new car on finance, hated monthly payments so now I only buy what I have the cash for.

chrispmartha

15,360 posts

128 months

Thursday 5th March 2015
quotequote all
daveinhampshire said:
07 Audi A8L - £0

I had one new car on finance, hated monthly payments so now I only buy what I have the cash for.
No depreciation or VED, MOT, service??

Ari

19,328 posts

214 months

Thursday 5th March 2015
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Deadlysub said:
If you want a new car finance is a sensible approach as wouldn't put £30k + cash into a car.
WTF!? laugh

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

chrispmartha

15,360 posts

128 months

Thursday 5th March 2015
quotequote all
Ari said:
WTF!? laugh

Who's paying for the car then if it isn't you? The Fairy Finance-mother? biggrin
You really don't see the difference in putting £30K cash into a car rather than spreading the payments?

daveinhampshire

527 posts

125 months

Thursday 5th March 2015
quotequote all
chrispmartha said:
No depreciation or VED, MOT, service??
Nope, I don't bother with any of those.