How much do you pay per month for your car?

How much do you pay per month for your car?

Author
Discussion

NerveAgent

3,314 posts

220 months

Thursday 5th March 2015
quotequote all
dave_s13 said:
Is it fook.

It's what the car industry is built upon.

Our new electric car on pcp is costing only £30/month more than the ten year old liability it replaced (owned outright) . Why wouldn't you?


Edited by dave_s13 on Thursday 5th March 20:18


Edited by dave_s13 on Thursday 5th March 20:19
I'm glad you feel so strongly about supporting the car industry. Its wonderful for me thumbup

Welshbeef

49,633 posts

198 months

Thursday 5th March 2015
quotequote all
One key thing for those who paid cash - unless you are totally debt (incl mortgage) free then you are financing the car just simply ignoring this minor fact.

pboyall

176 posts

121 months

Thursday 5th March 2015
quotequote all
Yeah, but some of us are debt-free :-)

Mind you, changed that when I bought the Leaf. PCP monthly payment is less than I was paying for petrol. So I figured it's not a debt just keeping a bloke in Sunderland employed instead of a guy in Kuwait ...

SidewaysSi

10,742 posts

234 months

Thursday 5th March 2015
quotequote all
Who gives a st what others spend on their cars? Is it just to make those people feel good about themselves?

Me - F10 M5. £229 a month.

Welshbeef

49,633 posts

198 months

Thursday 5th March 2015
quotequote all
SidewaysSi said:
Who gives a st what others spend on their cars? Is it just to make those people feel good about themselves?

Me - F10 M5. £229 a month.
All in cost to purchase £229pcm. Just how is that possible- assuming the deposit is excluded here

lukefreeman

1,494 posts

175 months

Thursday 5th March 2015
quotequote all
Nothing :-)

lukefreeman

1,494 posts

175 months

Thursday 5th March 2015
quotequote all
Welshbeef said:
One key thing for those who paid cash - unless you are totally debt (incl mortgage) free then you are financing the car just simply ignoring this minor fact.
What?

Welshbeef

49,633 posts

198 months

Thursday 5th March 2015
quotequote all
lukefreeman said:
Welshbeef said:
One key thing for those who paid cash - unless you are totally debt (incl mortgage) free then you are financing the car just simply ignoring this minor fact.
What?
Paying for a car with cash when you have debts isn't debt free and in effect the car is being financed.

chibbard

1,554 posts

260 months

Thursday 5th March 2015
quotequote all
£0 per month for me and I own a Ford Kuga, TVR Cerbera, 1 series Convertible and an HP4 BMW motorbike.

lukefreeman

1,494 posts

175 months

Thursday 5th March 2015
quotequote all
Welshbeef said:
lukefreeman said:
Welshbeef said:
One key thing for those who paid cash - unless you are totally debt (incl mortgage) free then you are financing the car just simply ignoring this minor fact.
What?
Paying for a car with cash when you have debts isn't debt free and in effect the car is being financed.
Right, understood now.


Still, don't think i'd get a loan for 1.5% though, so it is cheaper than paying in cash.

Welshbeef

49,633 posts

198 months

Thursday 5th March 2015
quotequote all
lukefreeman said:
Right, understood now.


Still, don't think i'd get a loan for 1.5% though, so it is cheaper than paying in cash.
Oh absolutely - I'd keep my mortgage open for the life of the mortgage even with a trivial balance but could take on quick borrowing at low rates at any point if the need arose.

MrBarry123

6,027 posts

121 months

Thursday 5th March 2015
quotequote all
£383

SuperPav

1,091 posts

125 months

Thursday 5th March 2015
quotequote all
Jimboka said:
GreatGranny said:
Can I ask where that deal from from?

Cheers
I predict you won't get a straight answer...
Not sure how convoluted an answer you're expecting, but the lease was part of the social trials for. My Electric Avenue:

http://myelectricavenue.info/social-trials


Means I need to fill out a 5 minute online survey every quarter, but gives me a 10,000 miles p.a. lease with little deposit and for only 18 months for little more than it saves me in petrol (I charge at work).

Not sure you can sign up for it still, but might be worth emailing Vicky Reed at fleet drive as she organised the lease.

http://www.fleetdrive.co.uk/reduce-emissions/vicky...


HTH


Welshbeef

49,633 posts

198 months

Thursday 5th March 2015
quotequote all
For me in general pretty much every car I've owned - doing similar miles each year - it seems to cost about £400 for the main car and half that for the 2nd car.


These are all in costs/total ownership costs.

As always the key to low total cost is either buy a cheap but reliable car OR buy a newer car and run it for a long time. Too often the grass is greener and you fancy a change doing that you take the hit hard in the pocket.

anonymous-user

54 months

Thursday 5th March 2015
quotequote all
Prius, £199 a month

Welshbeef

49,633 posts

198 months

Thursday 5th March 2015
quotequote all
Jimboka said:
Prius, £199 a month
Is that all in total cost or just to own it/have it in possession for a set time period

Efbe

9,251 posts

166 months

Thursday 5th March 2015
quotequote all
technodup said:
Someone paid me £10/m for two years to drive mine. Bought at £1500, written off two weeks ago, insurance paid £2133 less £400 excess. Leaving a £233 profit over two years.

Given it was due a service, MOT and a tank of fuel I couldn't have picked a better time to smash it into the back of a white van.
how does that work on insurance and stuff. any complcations when it came to claiming?

simoid

19,772 posts

158 months

Thursday 5th March 2015
quotequote all
PH reckons my motor costs me £300 per month, all in. I own it outright (but yes Welshy, I've got a mortgage hehe)

ETA for my 1200 miles-ish per month.

Edited by simoid on Thursday 5th March 22:30

chrispmartha

15,472 posts

129 months

Thursday 5th March 2015
quotequote all
chibbard said:
£0 per month for me and I own a Ford Kuga, TVR Cerbera, 1 series Convertible and an HP4 BMW motorbike.
So all of those cost you nothing? I bet they do

DoubleByte

1,254 posts

266 months

Thursday 5th March 2015
quotequote all
R8VXF said:
chrispmartha said:
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?
But to get that 30k cash you have to spread the payments back in time to before you buy the car aka saving
I think the point is - over the length of the lease could you invest that 30k in some thing that makes money and therefore end up better off than buying a car with it which depreciates.

But then some people just prefer to own their car.

smile