How much do you pay per month for your car?
Discussion
MattHall91 said:
Pretty difficult to have one without the other.
Not if you don't run your car, its not. The point is, I was interested in finding out how much we spent on a month to month basis 'buying' (or renting) our cars mainly because it occurred to me that my impression of what was a reasonable sum (@£250) must be outdated.MattHall91 said:
I'm very interested to know how so many of you are managing to run your cars off free air.
'Doesn't cost me a f
king penny mate'
Ok then.
I'd say "generally" £0.45ppm is a good all in cost given 15k a year miles. 'Doesn't cost me a f
king penny mate'Ok then.
However M5's are probably £1.50/mile + while other end of the scale £200 car which isn't ever serviced somehow scraped MOT and literally legal rubber could be £0.25/mile.
Haggleburyfinius said:
I pay 500pcm for the x6 and 400pcm for the OHs Golf.
Can't be arsed with used cars.
Will upgrade them both in the next 12 months and spend considerably more I suspect.
I like leasing...I'm lazy.
So this is pure lease costs £900pcm which let's be frank you are going to be 40% if not 45% tax payer so that's £1.5k PCM gross income or £18 of the household income per year just to have them sat on the drive uninsured and not serviced. Can't be arsed with used cars.
Will upgrade them both in the next 12 months and spend considerably more I suspect.
I like leasing...I'm lazy.
To anyone £18k is a big pay cut - I guess how much cheaper could you go? £10k for 2 cars saving £8k a year or more...
forzaminardi said:
Not if you don't run your car, its not. The point is, I was interested in finding out how much we spent on a month to month basis 'buying' (or renting) our cars mainly because it occurred to me that my impression of what was a reasonable sum (@£250) must be outdated.
That seems reasonable to me as well. Up to £150 (including a share of the deposit) gives you basic motoring but in a new car, £250 gives you something that is sufficient for most needs, £400 gives you adequate performance and luxury, and anything over that is an indulgenceWhat you spend on a car, whether it is financed or an outright purchase, is only relevant to 'your' situation.
I know that some will find paying, say, £15k or £20k on finance obscene or 'stupid'. But it depends on your disposable income.
I also know that some find it hard to understand how it is possible to use your capital to make considerably more out of it than you would pay to finance a car. If you are risk averse it is hard to comprehend, but you can make WAY more than 10% on your money with a bit of risk (calculated).
How each individual achieves this (legal) return on their money varies immensely and is not for this thread.
The point I am trying to put across is that financing a car is not a sign of a lack of 'cash' in every case, which is what some posters seem to be inferring.
I know that some will find paying, say, £15k or £20k on finance obscene or 'stupid'. But it depends on your disposable income.
I also know that some find it hard to understand how it is possible to use your capital to make considerably more out of it than you would pay to finance a car. If you are risk averse it is hard to comprehend, but you can make WAY more than 10% on your money with a bit of risk (calculated).
How each individual achieves this (legal) return on their money varies immensely and is not for this thread.
The point I am trying to put across is that financing a car is not a sign of a lack of 'cash' in every case, which is what some posters seem to be inferring.
£900pm for a 2012 XFR and 2007 Range Rover Sport. We live outside a city where a 4-bed detached house on a nice street has cost £225k. Mortgage is a lot lower than friends or colleagues so I choose to spend extra on the cars. RRS may get changed for a new Evoque with a higher pm figure, but much lower running costs and the "joy" of new car ownership.
Just sold my 6 year old VW Tiguan which I thought was a good solid brand
I have the sums in front of me and it cost me as much in depreciation and running costs as a lease on an identical vehicle for two years
Why would I spend my money to finance a new car and then end up with another old car which is a liability. Short term view but why get involved with MOT's and extra warranties
It makes me smile the people that say they save money as they buy their car outright and can save. So what does the money they save go to pay for, their next car !
As to the mortgage that is getting a nice chunk taken off it this morning now I have my money back
I have the sums in front of me and it cost me as much in depreciation and running costs as a lease on an identical vehicle for two years
Why would I spend my money to finance a new car and then end up with another old car which is a liability. Short term view but why get involved with MOT's and extra warranties
It makes me smile the people that say they save money as they buy their car outright and can save. So what does the money they save go to pay for, their next car !
As to the mortgage that is getting a nice chunk taken off it this morning now I have my money back
Edited by Park on Saturday 7th March 08:35
Edited by Park on Saturday 7th March 08:35
Car allowance from work = 500pcm.
Net ~300pcm
Mercedes c class estate 220 sport £324 pcm on lease (3 +23), 15k per annum
No hassle motoring, no ownership to think about, probably one service to cover. As far as I am concerned the car goes with the job so as long as I still have the job I have the car. Job goes, car goes. End of chat. 'Costs' me £1000 ( the 3 upfront payments on the lease) for easy life motoring for two years
No brainer for me. Yes I could use the £300 net amount for something else, but frankly, it would probably all go on an older cars running cost/loan, so don't see the point.
Net ~300pcm
Mercedes c class estate 220 sport £324 pcm on lease (3 +23), 15k per annum
No hassle motoring, no ownership to think about, probably one service to cover. As far as I am concerned the car goes with the job so as long as I still have the job I have the car. Job goes, car goes. End of chat. 'Costs' me £1000 ( the 3 upfront payments on the lease) for easy life motoring for two years
No brainer for me. Yes I could use the £300 net amount for something else, but frankly, it would probably all go on an older cars running cost/loan, so don't see the point.
I lease a fiat 500 shopping trolley for the missus (tried her on bangernomics but 'mechanical sympathy' isn't in her vocabulary). Cost £160pcm.
Changing that in June for a bigger trolley as kid on the way so about £200 on a fiesta.
My current is a company 520d so about £700 a month, including tax and deductions, its high because I filled it with toys instead of spending a bigger engine as it lives on the motorway. I also didn't have a mortgage, wife or baby when I ordered it 4 years ago
Swapping it for an Outlander PHEV that will cost me about £350 a month net.
Trying to convince her to let me have an oldnxjr on the side as a hobby
Changing that in June for a bigger trolley as kid on the way so about £200 on a fiesta.
My current is a company 520d so about £700 a month, including tax and deductions, its high because I filled it with toys instead of spending a bigger engine as it lives on the motorway. I also didn't have a mortgage, wife or baby when I ordered it 4 years ago
Swapping it for an Outlander PHEV that will cost me about £350 a month net.
Trying to convince her to let me have an oldnxjr on the side as a hobby
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