How much do you pay per month for your car?
Discussion
gangzoom said:
'15 plate Lexus IS300H, and '08 plate BMW 335i. Total payment per month = £0 
We are old fashioned and try to buy everything outright, should be able to clear the mortgage in 2 years time, so will be totally debt free soon
Unless you are gifted your cars (or you steal them), then it can't be zero.We are old fashioned and try to buy everything outright, should be able to clear the mortgage in 2 years time, so will be totally debt free soon
The depreciation is a cost over time, which can be measured monthly.
I bought my car for cash too, doesn't mean I can assume it's costing me nothing per month. For a start, how will the next car be paid for?
Welshbeef said:
J4CKO said:
I don't owe anything on our 3
Insurance is about £100 a month for all 3, expensive as eldest is on the insurance for the C1, otherwise would be about £70 a month.
Tax comes to about seventy quid.
An MOT £35 * 3 times in a year
Oil changes I do myself once a year, about £90 covers all three, 3 * filters = £15, oil about seventy quid plus some sump washers.
Brakes, tyres, exhausts, filters, plugs as and when needed, not very often as don't do many miles, buy off the internet and fit myself.
Polish and cleaning stuff, £3 a month maybe ?
Depreciation is quite low, 350Z still worth what I paid for it, citroen maybe £50 a month, galaxy about £75
I reckon about £350 a month on car expenses, including depreciation to run all three
Would a 350z vert be worth the same 18 odd months after purchasing it? Really?Insurance is about £100 a month for all 3, expensive as eldest is on the insurance for the C1, otherwise would be about £70 a month.
Tax comes to about seventy quid.
An MOT £35 * 3 times in a year
Oil changes I do myself once a year, about £90 covers all three, 3 * filters = £15, oil about seventy quid plus some sump washers.
Brakes, tyres, exhausts, filters, plugs as and when needed, not very often as don't do many miles, buy off the internet and fit myself.
Polish and cleaning stuff, £3 a month maybe ?
Depreciation is quite low, 350Z still worth what I paid for it, citroen maybe £50 a month, galaxy about £75
I reckon about £350 a month on car expenses, including depreciation to run all three
My mate sent me a link to one in a dealers with another 10k, but it was the 313 and it was three and a half grand more than mine, even allowing for it having the later engine and being in a dealers, it doesn't explain away that much difference so I think I would get back what I paid.
I did get a bargain really, one owner, full Nissan SH, 33k, still cant find any of the same age/spec for what I paid.
Not sure what they actually change hands for but I dotn think I have lost anything.
Oh, I had to put an exhaust on which was £400, but didnt need to spend that much, could have welded the break and shoved it back on.
Welshbeef said:
Hol said:
The comparison was againts a 2year lease 2 years ownership and not a 4year lease.
I used 48 months as way of reducing the ongoing cost of the loan but allow him to sell the car halfway through, but youre right he could get a £10k car, not 6k as I did 290 x 24..
The reality is he would be paying the same amount for two years in both scenarios:
but in one he has a used car he needs to sell to pay off the loan after two years, in the other he has a newer car for two years.
Ok let's say he buy a £2-3k really good example of a Renault Sport 172. Within a year easily he would have bought it outright. Heck you can pick them up for £1.5k perfectly usable versions so 5 months. I used 48 months as way of reducing the ongoing cost of the loan but allow him to sell the car halfway through, but youre right he could get a £10k car, not 6k as I did 290 x 24..
The reality is he would be paying the same amount for two years in both scenarios:
but in one he has a used car he needs to sell to pay off the loan after two years, in the other he has a newer car for two years.
He could/anyone could then use it for 2 years and the money he'd save c£5k he could buy a few more of them with that saving even if his original example failed and was scrapped
When I asked what he would spend the save money on, if he said -I dunno, hookers and coke (probably)
chrispmartha said:
TurboHatchback said:
I have nothing constructive to add other than I'm gobsmacked at how much money people seem willing to spend on mundane cars. My big, modern, 350hp V8 luxobarge is probably losing ~£100pcm in depreciation, £300pcm would buy my car outright in less than two years! I fully encourage everyone to continue buying/leasing/financing lots of new cars though, then they'll be all the cheaper for me in 10yrs time.
How much does your V8 luxobarge cost to service and how much is VED and what happens if something goes pop?These are all considerations for a lot of people. I lease my car because I own my wn business and can practically claim the cost of the lease back. Everyones situation is different.
I just don't get the reverse snobbery (not particularly accusing you of this) that some have on here, almost bragging that they own there own car outright when it turns out they're driving round in an old shed, well thats great and Ive done it myself but it's not for everyone.
Jim909 said:
I probably spend too much per month on the 2 cars and a van we have, I have also probably spent a rediculous amount of money on cars over the years because i really like and enjoy having them in my life.
I am also now thinking of spending even more per month on a new car very soon...
But I really like cars, they are expensive, thats just how it is.
If i could have every penny I had ever spent on cars in my hand right now, i would simply go out and spend it all on cars in a heartbeat.
Absolutely this. I spend around £1000pm on our 2 cars and don't begrudge a penny. If I could afford to spend more then I probably would. I am also now thinking of spending even more per month on a new car very soon...
But I really like cars, they are expensive, thats just how it is.
If i could have every penny I had ever spent on cars in my hand right now, i would simply go out and spend it all on cars in a heartbeat.
My car is bought and paid for.
Probably spend on average £200 per month on fuel, tax and general maintenance.
I had a couple of big bills last year (polybushed front end + New flywheel and updated clutch)
This month will be slightly more expensive than average when I pay for my adjustable rear tie bars + polybushes.
Leasing isn't for me as I like to tinker around with my cars but that's not to say it isn't for other people.
Each to their own.
Probably spend on average £200 per month on fuel, tax and general maintenance.
I had a couple of big bills last year (polybushed front end + New flywheel and updated clutch)
This month will be slightly more expensive than average when I pay for my adjustable rear tie bars + polybushes.
Leasing isn't for me as I like to tinker around with my cars
but that's not to say it isn't for other people.Each to their own.
anarki said:
My car is bought and paid for.
Probably spend on average £200 per month on fuel, tax and general maintenance.
I had a couple of big bills last year (polybushed front end + New flywheel and updated clutch)
This month will be slightly more expensive than average when I pay for my adjustable rear tie bars + polybushes.
Leasing isn't for me as I like to tinker around with my cars but that's not to say it isn't for other people.
Each to their own.
Povvo spec hooning round a car park by the sounds of it. Probably spend on average £200 per month on fuel, tax and general maintenance.
I had a couple of big bills last year (polybushed front end + New flywheel and updated clutch)
This month will be slightly more expensive than average when I pay for my adjustable rear tie bars + polybushes.
Leasing isn't for me as I like to tinker around with my cars
but that's not to say it isn't for other people.Each to their own.
jimi said:
berlintaxi said:
Benefit in kind, so it does actually cost you, you just don't see it.
No it isn't. It doesn't cost me. Its a car industry benefit VW guys etc. all have something similar.The only way it can be completely free is if it's for business use only (and probably kept at work).
There are also some loopholes for prototypes but as you're in the UK I doubt that's the case.
I know people on pretty much all of the 'car industry' schemes. They're certainly cheap but they're NOT free, and can't be for tax reasons.
blank said:
Sorry but that just isn't true. You're either paying a (cheap) lease or benefit in kind tax (check your tax code).
The only way it can be completely free is if it's for business use only (and probably kept at work).
There are also some loopholes for prototypes but as you're in the UK I doubt that's the case.
I know people on pretty much all of the 'car industry' schemes. They're certainly cheap but they're NOT free, and can't be for tax reasons.
The only loophole like this at the moment is pool cars but I thought they were getting pretty heavy on those now.The only way it can be completely free is if it's for business use only (and probably kept at work).
There are also some loopholes for prototypes but as you're in the UK I doubt that's the case.
I know people on pretty much all of the 'car industry' schemes. They're certainly cheap but they're NOT free, and can't be for tax reasons.
Zoobeef said:
I'll expand on mine.
Noble, £0pm
£260 tax, £320 insurance and £2-500 for the service per year.
Audi, £0pm
£180 tax, £240 insurance and £300 servicing and tyres per year.
VX220, £0pm
No tax or insurance. Tyres brakes and trackdays as required.
No depreciation on any? Really. I doubt Glasses guide would mirror that assumption - though looking at these cars in guessing the Noble is a keeper for good so depreciation is utterly irrelevant, possibly the VX too but the Audi... Its a run of he mill car which is losing money all the time like pretty much every car on the road. Noble, £0pm
£260 tax, £320 insurance and £2-500 for the service per year.
Audi, £0pm
£180 tax, £240 insurance and £300 servicing and tyres per year.
VX220, £0pm
No tax or insurance. Tyres brakes and trackdays as required.
Welshbeef said:
No depreciation on any? Really. I doubt Glasses guide would mirror that assumption - though looking at these cars in guessing the Noble is a keeper for good so depreciation is utterly irrelevant, possibly the VX too but the Audi... Its a run of he mill car which is losing money all the time like pretty much every car on the road.
The Noble has gone up by about £7.5k since I got it and the VX has gone up by about £2k.The Audi is an 02 plate 1.9 130 bhp diesel. I paid £2k 18 months ago and it's probably gone down by a few hundred.
Zoobeef said:
The Noble has gone up by about £7.5k since I got it and the VX has gone up by about £2k.
The Audi is an 02 plate 1.9 130 bhp diesel. I paid £2k 18 months ago and it's probably gone down by a few hundred.
Its a really good mix - sensible a-b commuter bought low price pile on the miles park anywhere run till it breaks, Noble - dream car I guess plenty fast enough and rare,VX (is it the Turbo?) very cheap to run and to service and faster than the Elise. The Audi is an 02 plate 1.9 130 bhp diesel. I paid £2k 18 months ago and it's probably gone down by a few hundred.
king penny mate'
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