How much does your car cost per month?

[Monkeylegend]

NooBish AbbZ said:

Monkeylegend said:

Sorry

Ignorance is bliss as they say I don't regret it to be fair But is easy to see why my next long-term car is going to be far far cheaper

Most people have experienced the same, I know I have on many occasions, but do I regret buying any of the cars I've had?

No, and I would do it again if only it was possible.

[PomBstard]

I reckon taking into account servicing, major items, insurances, depreciation over a two-year period and the noted distance...

2013 Liberty GT, 26,000kms = $750/m
2011 Golf GTI, 32,000kms = $750/m
1987 928 S4, 5,000kms = $0/m

AU$18,000 / GBP10,000 pa all in for 3 cars providing some reasonable fun.

[Cloudy147]

Cayenne 2005. Bought outright.

Total running costs including maintainance over three years - between £128 and £170 a month (depending on actual resale value)

Tax and insurance roughly £50 a month over that term.

30,000 miles at approx 22mpg at say 115p per litre -
6,000 litres = £191pm

Total - £369 - £411 per month all in. That value is based on best and worst case depreciation.

[brickwall]

NooBish AbbZ said:

So, i sold my 340i week before last, and cost was a large part of the reason behind selling.
Monthly

Loan - £453
Tax - £16
Insurance - £150
Fuel - £250 (wow, didn't realise it was that much. I use the bike for work, car did runs between manchester/S'oton every week and a half or so.)
Depreciation- £500

Total - £1119 without fuel, £1369 with...

Edited: £500 depreciation monthly from purchase price and sale price.

Fortunately it motivated me to take my first two trips to the Nurburgring, and I had a hell of a lot of fun, plus still saved a good £15k over ownership so, all is well!

Conversely, I'm now buying a car that will serve as a run around for 4/5 months before i go to the Middle East for 6 months with work. My limit is £1500, insurance will be around £400 a year.

Fiesta Mk7/8 when I return in February

Edited by NooBish AbbZ on Tuesday 5th March 18:03

Does the loan figure include paying down some of the value of the loan, or was it just interest? (I can't believe it was that much in interest alone)

If you were paying it down, then the amount you paid it down by should come off against the depreciation figure.

[Tannedbaldhead]

I've taken fuel and insurance out of the equation to compare my last three cars as directly as possible.

Current Peugeot 208GTI (bought new on PCP) and service plan (inc initial payment divided by 36 month duration on contract).

£283.88 per month

Previous MINI Clubman Cooper S purchased at 4 years old and kept for 3.5 years. Depreciation , interest on loan, service and repairs.

£251.00 per month.

If that seems high bear in mind the R55 Cooper S with the PSA THP engine was an unreliable little fecker.


MG TF purchased at 10 years old and, so far kept for 6 years. Depreciation, service and repairs based on an estimated current value.

£52.77 per month.


I also worked out that total monthly costs for my Peugeot and MG combined amounts to £537 a month.

Tried to work out how much I'd save punting the MG. Calculations are complicated by the fact my Pug costs would increase with the additional mileage it would end up doing. Assuming the depreciation has levelled out and then the savings from insurance and running costs would amount to £63 a month.

[CrippsCorner]

Had to do this for my mortgage application the other day... came out at £105 p/m all in. Not bad, and why I could never justify a lease!

[Ares]

CrippsCorner said:

Had to do this for my mortgage application the other day... came out at £105 p/m all in. Not bad, and why I could never justify a lease!

Leasing only works if you want a brand new car.

[culpz]

Mr Tidy said:

Nothing, apart from a year's road tax at £315 for my BMW E91.

Because I bought both of them!

Oh we get it, you're not one of those pesky car leasers/PCP'ers who have the nerve to choose to live way beyond their means. Don't worry, your true alpha male dominance has been well and truly acknowledged

As someone else kindly pointed out, the whole point here is to amortise all the associated costs of owning and running the car(s) into a monthly cost. Come on now, you can do it. Let that guard down and do a bit of basic maths

[Ares]

culpz said:

Mr Tidy said:

Nothing, apart from a year's road tax at £315 for my BMW E91.

Because I bought both of them!

Oh we get it, you're not one of those pesky car leasers/PCP'ers who have the nerve to choose to live way beyond their means. Don't worry, your true alpha male dominance has been well and truly acknowledged

As someone else kindly pointed out, the whole point here is to amortise all the associated costs of owning and running the car(s) into a monthly cost. Come on now, you can do it. Let that guard down and do a bit of basic maths

Maybe it did cost him nothing. Zero depreciation. Zero running costs. No Servicing. Maybe he's running around without an MOT. Or Insurance. Maybe he has magic tyres that never need replacing. Maybe he steals the fuel to put in it......

Maybe he has superpowers....for he is........ "Cash Purchase Man"

[Ares]

meanwhile.... men costs me roughly:

£600/mth lease
£27/mth insurance
£200/mth fuel
c£150/mth tyres
c£50/mth servicing


So just over £1,000 per month.

But then I get to do 12-15,000 per year in a 500bhp Italian car rather than a 15yr old, 200bhp diesel st box

[rgw2012]

Ares said:

meanwhile.... men costs me roughly:

£600/mth lease
£27/mth insurance
£200/mth fuel
c£150/mth tyres
c£50/mth servicing


So just over £1,000 per month.

But then I get to do 12-15,000 per year in a 500bhp Italian car rather than a 15yr old, 200bhp diesel st box

Not sure you have your fuel figure in the right ball park for the sort of mileage and car you describe - maybe it's too painful to actually write it down!

[Ares]

rgw2012 said:

Ares said:

meanwhile.... men costs me roughly:

£600/mth lease
£27/mth insurance
£200/mth fuel
c£150/mth tyres
c£50/mth servicing


So just over £1,000 per month.

But then I get to do 12-15,000 per year in a 500bhp Italian car rather than a 15yr old, 200bhp diesel st box

Not sure you have your fuel figure in the right ball park for the sort of mileage and car you describe - maybe it's too painful to actually write it down!

No, thats about right. c£70 per fill, three tanks a month, 300-350 miles average a tank. More on with longer runs (which is where extra miles comes from)...and LOT less if a full tank of hooning it

Might average out at another £25 perhaps.

[Aiminghigh123]

Ares said:

rgw2012 said:

Ares said:

meanwhile.... men costs me roughly:

£600/mth lease
£27/mth insurance
£200/mth fuel
c£150/mth tyres
c£50/mth servicing


So just over £1,000 per month.

But then I get to do 12-15,000 per year in a 500bhp Italian car rather than a 15yr old, 200bhp diesel st box

Not sure you have your fuel figure in the right ball park for the sort of mileage and car you describe - maybe it's too painful to actually write it down!

No, thats about right. c£70 per fill, three tanks a month, 300-350 miles average a tank. More on with longer runs (which is where extra miles comes from)...and LOT less if a full tank of hooning it

Might average out at another £25 perhaps.

So 24mpg?
You’re not driving it properly. I want to hear in the teens.

[jas xjr]

£800 two years ago. No expenditure other than tax and insurance. To my eye it looks respectable.

Only a 520i, but drives well, without issues.

[Ares]

Aiminghigh123 said:

Ares said:

rgw2012 said:

Ares said:

meanwhile.... men costs me roughly:

£600/mth lease
£27/mth insurance
£200/mth fuel
c£150/mth tyres
c£50/mth servicing


So just over £1,000 per month.

But then I get to do 12-15,000 per year in a 500bhp Italian car rather than a 15yr old, 200bhp diesel st box

Not sure you have your fuel figure in the right ball park for the sort of mileage and car you describe - maybe it's too painful to actually write it down!

No, thats about right. c£70 per fill, three tanks a month, 300-350 miles average a tank. More on with longer runs (which is where extra miles comes from)...and LOT less if a full tank of hooning it

Might average out at another £25 perhaps.

So 24mpg?
You’re not driving it properly. I want to hear in the teens.

Single digits often....but it'll give mid-30s on a steady 70/80mph longer run thanks to cylinder de-activation.

On a 3-week/3,000 mile road trip around France, Italy & Switzerland last summer, with family & dog, it averaged around 30mpg.

[kambites]

I'm intreagued by the fact you spend nearly as much on tyres as fuel!

[Ares]

kambites said:

I'm intreagued by the fact you spend nearly as much on tyres as fuel!

That will now go down having swapped to Michelin MP4S....the OEM Corsas lasted less than 9,000 miles. Add in two ruptured side walls due to potholes, and c£300 per tyre, that was over £1500 in the first 9 months, and now another c£1,000 on the PS4S. £2,500 in 17 months....

Bloody worth it though

[Mr Tidy]

Ares said:

culpz said:

Mr Tidy said:

Nothing, apart from a year's road tax at £315 for my BMW E91.

Because I bought both of them!

Oh we get it, you're not one of those pesky car leasers/PCP'ers who have the nerve to choose to live way beyond their means. Don't worry, your true alpha male dominance has been well and truly acknowledged

As someone else kindly pointed out, the whole point here is to amortise all the associated costs of owning and running the car(s) into a monthly cost. Come on now, you can do it. Let that guard down and do a bit of basic maths

Maybe it did cost him nothing. Zero depreciation. Zero running costs. No Servicing. Maybe he's running around without an MOT. Or Insurance. Maybe he has magic tyres that never need replacing. Maybe he steals the fuel to put in it......

Maybe he has superpowers....for he is........ "Cash Purchase Man";)

OK, for the benefit of this thread I've done 6,164 miles in my E91, bought 852 litres of petrol at a cost of £1,059.21.

The "CURRENT" MOT cost £35 and insurance was £304.49 in April 2018.

No need for a service yet as it had a main dealer one in December 2016 and that era of BMW only needs servicing on distance/time parameters, so for my use once in 2 years.

But it did let me down last year when the electric water pump died - £500+ bill.

So £1,431.20 excluding fuel in a year, which works out at less than £120 a month for the benefit of the renters.

Probably some potential depreciation, but it works for me and is way cheaper than sp*nking money on a rental!

After all my Dad always told me if you can't buy it you can't afford it!

Edited by Mr Tidy on Thursday 7th March 02:05

Edited by Mr Tidy on Thursday 7th March 02:34

[Welshbeef]

Monkeylegend said:

NooBish AbbZ said:

Monkeylegend said:

Did you sell for less than you paid?

Fair shout, didn't take depreciation into account. Bought 2 years go at £32k, sold at £20k , so £500 a month.

fk..

Sorry

Given he is accounting for the loan in his original numbers @£453pcm then he only needs to add £47pcm to that to mirror the depreciation ie it isn’t +£500 on those numbers.

[Monkeylegend]

Welshbeef said:

Monkeylegend said:

NooBish AbbZ said:

Monkeylegend said:

Did you sell for less than you paid?

Fair shout, didn't take depreciation into account. Bought 2 years go at £32k, sold at £20k , so £500 a month.

fk..

Sorry

Given he is accounting for the loan in his original numbers @£453pcm then he only needs to add £47pcm to that to mirror the depreciation ie it isn’t +£500 on those numbers.

They are his figures not mine, I haven't got a clue as to how he arranges his finances etc , I just ask the questions

But you may be correct.