How much does your car cost per month?

[Gad-Westy]

Dave Hedgehog said:

M3P, after 1 year 10k pa

Monthly Payment: £410
Insurance: £35
Servicing: £0
Tax / VED: £0
Fuel - £12 (4.5p / kwh)
Total: £457

We looked at these last year to lease through our business. When you factor in 0% BIK, and offsetting tax and VAT, they end up remarkably cheap. Something like £300 per month in 'equivalent' terms. Unfortunately I'd done all of this maths long before I twigged that they're a saloon and therefore would not have worked at all for us. Oops.

[anonymous-user]

Shed Megane DCI I paid £1200 for 3 years ago.

Monthly costs

Insurance £20
Road Tax £2.50 (£30 a year which I pay annually as I am clearly a powerfully built company director and wish to avoid the £1.50 extra for paying monthly)
Fuel £40 (60MPG and work from home)

£62.50 a month.

In three years and 32K miles I have spent

£208 on four tyres
£21 on glow plugs
£40 on mats
£100 on servicing (eBay filters)
£20 on wiper blades

It has ruined me for owning any other car now as it is so cheap.

[Toaster Pilot]

Dave Hedgehog said:

M3P, after 1 year 10k pa

Monthly Payment: £410
Insurance: £35
Servicing: £0
Tax / VED: £0
Fuel - £12 (4.5p / kwh)
Total: £457

What kind of terms is that on at £410? Are you missing out a hefty initial payment?

[acasserole]

Hotwash BMW



Assuming that's a 135i coupe? How much has that been to run and how much do you think they're worth? Prices of them seem all over the place.

[TREMAiNE]

Welshbeef said:

TREMAiNE said:

2018 Mustang GT

Monthly Payment: bought outright
Insurance: £810 for the year, so ~£67.50 per month.
Servicing: £255 each year, so ~£21.25 per month.
VED: £145 for the year, so ~£12.08 per month.
Fuel: Around £200 per month at 25mpg.

Total monthly payments: £300.83
Actual monthly payments (as I pay most of it outright) is £200 per month on fuel.

Come on you have to add in a depreciation cost as it most certainly is losing £.

Based on the other GTs up for sale in my colour, spec, condition/mileage etc, I could stick mine up for sale at pretty much exactly what I paid for it - granted it may not sell for that. But even if a potential buyer were to knock £1,500 off the price, that is still 'only' £125 a month in depreciation.

EDIT - upon having a look online at values, purely out of curiosity, I'd now strongly argue that depreciation is sitting at £0 currently.
I estimate that if I sell in 3 years' time, depreciation will likely end up being around £130-140 per month worst-case scenario - based on the current price of 5-year-old GTs with a lot more miles than mine will likely have when I do come to sell.

Edited by TREMAiNE on Tuesday 13th October 13:28

[Justin Case]

Petrol £90 per month
Tax £25 per month
Insurance £25 per month
Maintenance, etc £20 per month

Total running costs £160 per month or 26.7p per mile (600 miles per month)

Depreciation to date has been £62 per month or an extra 10.3p per mile, however it has finished depreciating (ie practically worthless) so I can ignore that from now on (man maths !)

[Zippee]

V8RX7 said:

Zippee said:

Merc AMG GTS

Tax - £28
Fuel - £120 (don't do a huge amount of miles)
Servicing - £48 (On a 2 year service plan for £1150)
Insurance - £38

So excluding buying the thing it 'only' costs me at present £234 a month all in. Obviously not including tyres, brakes etc when needed, or depreciation when I come to sell.

So basically it's really cheap until you include all the actual costs...

Man maths at it's finest

It's what it's cost me at the moment. Until I sell I can't state depreciation though it's not lost much from when I purchased. I've not had to replace tyres or brakes so how can I include those? Otherwise my costs are just the same as everyone elses mentioned above!

[RammyMP]

95JO said:

RammyMP said:

This calculation has just cheered me up! Fuel is based on average of owning the car and depreciation is value now against what I paid:

Audi A6:
Depreciation - £400
Insurance - £38
Servicing & maintenance - £67
Fuel - £146.16
VED - £40.68
TOTAL PER MONTH: £691.84

That depreciation is horrific in comparison to your seemingly little usage!

Yes, when my car allowance is £500 before tax as well! I was expecting to do a lot more mileage but, like many others, the cars hardly moved in the last 6 months.

[paddy1970]

Maserati Granturismo 4.2:

I bought my 2008 GT in 2014 for £33k, part exchange it for £24k in 2017 with an additional 35k miles. So not too bad in terms of depreciation (£9K over 3 years: £3K per year).

But it needed 3 rear sets of tyres and 1 front set (£2k including 2 sensors that packed up), a full set of brake pads and discs (£4k), a new air-con pump (£3k including towing and some reverse and front parking sensors that packed up), services (1 main and 1 minor £2K).

Total costs: £20K (£6.7k per year - £550 per month).

If you include insurance and tax (£1000 per year - £3K over 3 years); fuel (£9K - 23mpg - £1.3/l).

Grand total (£32k - £900 per month - £0.91 per mile).

[nickfrog]

95JO said:

I don't even want to know! In all seriousness though, I do plan to do my first track day during my ownership...

The M2 is a surprisingly competent car on track for a heavy daily, it just needs pads if you're sensible and stick to short stints.

[RDMcG]

17 new cars in the last 20 years, mainly German.. I keep detailed service records on each car (for the next buyer mainly)and have no clue what they cost me. Nor do I really want to. Currently have seven.


The good news is that my costs this year are the lowest in decades!

[LosingGrip]

2014 VW Golf

Insurance £33
Tax £2.50
Fuel £100 (slightly more at the moment as I've moved offices for seven weeks)
Loan repayment £256

£391 in total

I've got £8,000 left on my loan and WBAC are offering just under £9,000 so without the loan repayment it's £135.50 a month.

Since April 2019 I've spent the following on it...

£419 on water pump / cam belt change and a service
£32 on wind screen wipers
£150 on tyres
£35 MOT

Works out £35 a month in 18 months (another service and MOT are next month though).

Happy with that. One of the reasons why I don't want to get rid of it.

[RDMcG]

anonymous said:

[redacted]

Absolutely understand that, but right now there is nowhere to go, no track days, no point in buying a car to park it ( I drive a lot normally). Driving around just for the hell of it fades after a while.

There are great numbers of people in many industries who are badly hit...entertainment, restaurants, pubs and so on, and I wish there were some magic that would make this whole nightmare go away. It will be quite a while before we get back to anything resembling normal. So, unfortunately my costs will be very low, like most people.

[AmyRichardson]

2014 330d touring.

- insurance
- tax
- fortnightly fill-up
- annual service (say, £500.00)
- £600pa "garage contingency" (covers replacement brakes, tires or similar)
- depreciation

£430 per month.

Pretty average and hopeful free of self-deceiving man-maths!

The same calcs for my previous car, a 2005 CLS55, came out at a sniff under £700.00; the odd thing is that while an additional £300.00/month isn't immaterial to me, the drip-drip nature of the expenditure means I don't really notice the saving.

[ashenfie]

I have a BMW 320D ED+ 2016 and cost are
Yearly
Depreciation over 2 years 4k so basically 2k a year £2,000
Mot £35
Tax £0
Ins/Breakdown £456
2xTires £200 £100
Fuel £360 (Thanks covid)
Service £250 £125

So that is £256.30 per month

[TyrannosauRoss Lex]

TurboHatchback said:

TyrannosauRoss Lex said:

Lexus LS460

Depreciation £0
Fuel £65 give or take
VED £50
Insurance £35
Maintenance/MOT £30 or so but clearly can vary. Have only had it 11 months....this may rise

So around £180/month or so.

I'm guessing you don't drive very far?

Nope. Cycle to work more than I drive. In fact, I cycle more than I drive, full stop.

[lowdrag]

If classic cars come into the equation then I would seem on paper to have done rather well, although that did not come into the equation nor still does just like most classic owners.

Cost of Lynx D-type 2002 £50,000
Cost of conversion to XKSS £35,000
Insurance £1,000 p.a x18 £18,000
Fuel @15 mpg and 20,000 miles say £ 5,000
Servicing not a lot but say £ 3,000
Tyres (12) £ 3,000
Spax adjustables £ 600
Oil 1 litre per 1,000 £ 100

Grand total £115,700

I can't really think of much else; one Red Top battery in 18 years comes to mind, a new speedo cable, but the car has never needed much in the way of attention. Servicing we do ourselves, but you could of course add the Carcoon if you wish. The car's current value exceeds the total cost so happy days.

[GroundZero]

Whilst saving up for something a bit special my current daily is an Audi B8 S4 (330bhp).
Road tax = £325/year = £27/month
Fuel = £15/week = £60/month (not doing as much commuting as before)
Ins = £330/year = £27.50/month
MOT = £55/year = £4.58/month
Maintenance so far this year = oil change = £50 = £4.16/month

Total = £123.24/month

Car bought 2nd hand with cash for £11,000 (will likely be worth the same if not a little more if I sold it now due to it being low milage, manual and low tax band - sought after model)

Going forward - the same yearly costs as long as nothing breaks.

I guess the advice to reduce your monthly outgoings is to buy 2nd hand cars to keep for a few years and avoid finance rentals like the plague.

If ignoring the 'statutory' costs all cars have (Ins, MOT, TAX) to leave just fuel economy and maintenance then its only £64.58/month. Very affordable for a 330bhp saloon car.

[Uggers]

No depreciation to speak of and it's currently in the garage after spewing its transmission fluid everywhere, so my average may go up.

But £170 a month to keep an RS6 is not too shabby



Putting fuel in it dents the average somewhat

[Rick101]

£350 per month loan and no car

A loan I set up several months back to buy a used 350 Exige. Yes I did set the payment at that, just so it reminded me what a wonderful thing I was buying.
Frustratingly, despite looking since April and being ready to pull or fist whatever, I've still not found a decent car. All of 4 across both AT and PH under 50K
Hopefully get one soon and be able to post some shoestring running costs.

Edited by Rick101 on Wednesday 14th October 17:17