My 'shed' has cost me *how much?*

[JuanGandini]

So I've been thinking about changing my car for over a year now but due to impending costs on my house and future wedding etc I've not been able to take the plunge for anything newer.

I thought I'd finally look into the costs of running my current 13 year old motor (the largely maligned Golf Mk4 2.0 GTi). So I popped over to this clever calculator tool to see what my 15k mileage and resulting running costs looked like. http://www.thisismoney.co.uk/money/cars/article-16...

£365 a month! Even though this includes fuel, that's a pretty hefty outlay.

So what would you do? Upgrade to some sort of generic Euro box on a lease? Are there any interesting options to have a nicer/more refined/quicker/newer car for smaller running costs?

Any pointers would be hugely appreciated!

[james_gt3rs]

MX5

[S0 What]

Hmm you aint shedding right, mine comes out at £57.13 a month
TBH i dont really count a 13 year old 2.0 GTi as a shed in any way shape or form but then one mans shed is another mans house i guess.

[kambites]

That's twice what my Elise costs me to run (albeit for a much lower mileage).

[Lanby]

hmm, looking at that website whatever you do don't buy a petrol Range Rover Sport

[RSoovy4]

You can lease a new Golf for that!!

[BMW3s6]

dont forget account for the scrap value when it goes kaput! otherwise its not true shedding!

[cirian75]

james_gt3rs said:

MX5

on top of the purchase price excluding running costs, mine cost in 6 months

£1500

sills done both sides, and 2 new rear calipers.

and at 25mpg it had to go

[kambites]

CYMR0 said:

What part of it is petrol?

Clearly if you're driving 30k miles a year, it's cheap motoring.

He says 15k miles.

[Snowboy]

That calculator is just helping you lie to you self about your finances.

It's mixed up overheads, running cost and depreciation and everything else.

Before looking for the best £300pcm PCP deal, do some real maths about what your car costs and what a PCP would cost and compare the two.
Do it for two years and four, or more.

[Ug_lee]

kambites said:

CYMR0 said:

What part of it is petrol?

Clearly if you're driving 30k miles a year, it's cheap motoring.

He says 15k miles.

I still don't think it's that bad.

He might be able to do it slightly cheaper in a new leased vehicle, but the choices won't exactly be inspiring.

[mrmr96]

JuanGandini said:

So what would you do? Upgrade to some sort of generic Euro box on a lease?

What's interesting is if you revisit your calculation and put your cost of fuel in as Zero per litre. The resulting cost per month will be equivalent to your budget to spend on leasing a car, assuming that includes maintenance, tax, insurance etc. (I think, tell me if I've missed something.)

[kambites]

mrmr96 said:

JuanGandini said:

So what would you do? Upgrade to some sort of generic Euro box on a lease?

What's interesting is if you revisit your calculation and put your cost of fuel in as Zero per litre. The resulting cost per month will be equivalent to your budget to spend on leasing a car, assuming that includes maintenance, tax, insurance etc. (I think, tell me if I've missed something.)

Only if the car he leases has the same fuel economy as his current one.

[JuanGandini]

mrmr96 said:

JuanGandini said:

So what would you do? Upgrade to some sort of generic Euro box on a lease?

What's interesting is if you revisit your calculation and put your cost of fuel in as Zero per litre. The resulting cost per month will be equivalent to your budget to spend on leasing a car, assuming that includes maintenance, tax, insurance etc. (I think, tell me if I've missed something.)

Yep that was the way I was thinking about it. Excluding fuel, the costs are more like £157 a month so the lease approach would have to be a maximum of this unless the fuel efficiency of the new car would be that much better.

[confused_buyer]

15k a year @ 30mpg = 500 gallons.

500 gallons is 2270 litres @ £1.30 = £2951. That's £246 a month.

Add in insurance and the vast majority of the OP's costs is fuel and insurance.

You still need to fuel, insure and (after the 1st year anyway) tax a lease car.

OK, so a more economical lower tax car will help but it won't be free. 15k pa in a 45mpg diesel costs £175 a month.

[james_gt3rs]

cirian75 said:

on top of the purchase price excluding running costs, mine cost in 6 months

£1500

sills done both sides, and 2 new rear calipers.

and at 25mpg it had to go

25mpg is bloody awful! I think the newer 911s can average that, that's with about 3 times as much power as the MX5!

[JuanGandini]

confused_buyer said:

15k a year @ 30mpg = 500 gallons.

500 gallons is 2270 litres @ £1.30 = £2951. That's £246 a month.

Add in insurance and the vast majority of the OP's costs is fuel and insurance.

You still need to fuel, insure and (after the 1st year anyway) tax a lease car.

OK, so a more economical lower tax car will help but it won't be free. 15k pa in a 45mpg diesel costs £175 a month.

Yep that's modern day motoring in a nutshell right there. So looks like leasing is a non starter really. Suppose I'd just have to save a lump sum for something slightly newer and more efficient to ensure my monthly outlay is reduced.

[kambites]

If you want to change for something newer, it will either have to be a LOT more economical or be unlikely to depreciate for some reason.

[Snowboy]

Mpg is down to the driver as much as the car in most cases.
On the same journey in my Audi I can get 40mpg or 20mpg depending on how I drive.

If your getting poor mpg on the current car, you'll probably get poor mpg in the new one - unless you change your driving style.

[George7]

My MG ZT 190 shed, according to this calculator, is £109 a year without fuel, £273 with fuel, 10k mileage.