How much does your car cost per month?
Discussion
I bought my city runabout (VW Polo) new about 10 years ago for £7,500. I reckon it has about 5 years remaining life, at which point it will be replaced and sold / scrapped. Depreciating down to zero over 15 years gives a monthly cost of £41.67, which seems pretty reasonable to me.
However, in retrospect I wish I had spec-ed the electric windows and central locking, which would have added about £2.50 per month. That seems like good value and I will do so when I buy my next one in 5 years' time.
However, in retrospect I wish I had spec-ed the electric windows and central locking, which would have added about £2.50 per month. That seems like good value and I will do so when I buy my next one in 5 years' time.
jagnet said:
ashleyman said:
doesn't seem like we can get anything but a banger which I don't want to risk therefore asking what other people are paying on their cars might help me get an idea of what's cheaper than a Golf but isn't a banger!
It sounds as though you need to reconsider what is, in your terms, a "banger" and realise that if you want to save for your deposit then you're really going to have to get used to the idea that you'll not be driving a new car for a while. These days a 10 year car on >100k miles is a perfectly reasonable, reliable proposition unless you buy badly. This isn't the '70s anymore.
My Saab is now over 15 years old. In the last 4 years and 40k miles the only things that needed replacing due to failure have been the thermostat (£10), battery (£50) and radiator (£100).
Servicing is inexpensive, parts are cheap (even genuine Saab parts), premium tyres are under £100 each, depreciation is around £200 per year.
39mpg on a run is achievable, 28mpg on average - pretty reasonable for a big car with approx 300 hp and 310 lb-ft
Insurance is £180 for the year.
Mrs Jagnet still uses her 21 year old, 140k mile Audi every day for work, again averaging around 10k miles per year in it. Annual costs to run that car are minuscule, although I did have to replace a broken rear spring for the MOT this year (£20 - the extravagance!). Fuel expenses from her work cover the car's entire running costs for the year (excluding petrol for personal use).
In fact I had more issues with a brand new leased Skoda Octavia where a sensor went twice on it in the first year of owning it from brand-new, and the tyre pressure monitor kept giving false readings, so I used to ignore those... Older, simpler cars can actually be far more reliable than new ones...
A banger is a car which just about goes and you never know whether it will work - there are thousands of cars out there which will have zero depreciation and will absolutely fine... Autotrader has just 380+ cars costing up to £500 with under 80,000 miles on the clock - e.g: https://www.autotrader.co.uk/classified/advert/201... 2.0 litre focus which will probably do another 80,000 miles quite simply...
If however, what you mean is that you still want to drive a new(ish) car - then you are presumably not actually serious about saving for a house...
Get may be an IS200, or something with a PD 1.9tdi for the milage you do?
Not all bangers are alike, if you do some research on older cars you can generally find known issues and therefore ones to avoid and ones to chase.
Get something with few known issues, a reputation for longevity (like the IS200) and buy one with the best visual consumables (tyres/brakes) and with luck it might not cost you a penny other than fuel/insurance etc. The is200 is no good for the young, isn't frugal (could be an issue for you?) isn't exciting, there isn't much going for it hence they are cheap and plentiful but it's generally bullet proof, has creature comforts and doesn't look too ancient?
Not all bangers are alike, if you do some research on older cars you can generally find known issues and therefore ones to avoid and ones to chase.
Get something with few known issues, a reputation for longevity (like the IS200) and buy one with the best visual consumables (tyres/brakes) and with luck it might not cost you a penny other than fuel/insurance etc. The is200 is no good for the young, isn't frugal (could be an issue for you?) isn't exciting, there isn't much going for it hence they are cheap and plentiful but it's generally bullet proof, has creature comforts and doesn't look too ancient?
Just get this https://www.cargurus.co.uk/Cars/l-Used-Kia-Picanto...
soon be in a house.
When I was saving for a house, having a car paid for, that fortunately didn't got wrong really helped (59 plate 1.6 petrol A3). It was around the time of the cheap golf r lease deals as well, they were very hard to ignore!
soon be in a house.
When I was saving for a house, having a car paid for, that fortunately didn't got wrong really helped (59 plate 1.6 petrol A3). It was around the time of the cheap golf r lease deals as well, they were very hard to ignore!
Jefferson Steelflex said:
My Golf R Lease:
Monthly Payment £235
Tax £0
Insurance £35
Fuel £120 (average 600 miles per month)
Total payment £390 per month
This was one of the cheap leases, and there was a £800 up-front payment. My issue is trying to find something remotely similar, ideally at a lower cost
Wow that's a cheap lease for a golf R, how many miles do you get on that?Monthly Payment £235
Tax £0
Insurance £35
Fuel £120 (average 600 miles per month)
Total payment £390 per month
This was one of the cheap leases, and there was a £800 up-front payment. My issue is trying to find something remotely similar, ideally at a lower cost
Defcon5 said:
I don’t think you should be assuming a zero monthly cost for something bought outright - you had to have the cash in the first place, so to replenish that amount requires an ongoing deduction from your income.
Obviously only the depreciation is an actual loss, but given when you sell the car to get a percentage of your initial payment back you will need to purchase another car using that money anyway, so it’s not as if you suddenly get a lump of cash to spend as you wish
I don't think anyone is are they? Personally I just listed what the OP asked for. Obviously only the depreciation is an actual loss, but given when you sell the car to get a percentage of your initial payment back you will need to purchase another car using that money anyway, so it’s not as if you suddenly get a lump of cash to spend as you wish
I account for depreciation with a monthly standing order to a savings account.
Got 07 Seat Leon donated to me by a family member as it wasn't worth the hassle of selling , hardly use it much, but here are costs:
Loan/purchase costs: 0
Insurance: £28 - could get cheaper but wanted legal cover/key cover and to pay monthly
Tax: £20 (estimate as never check)
MOT/Yearly servicing: £15, although I didnt service it this year and it passed mot fine, no other repairs
Tyres: £17 (needed 3 this year)
Petrol: £80 ish, usually a tank and a bit more
Bulbs: £1 a month (bought two headlight bulbs this year!!!)
Only intended to keep the car for a few months, but 3 years later still using it!! Need a 7 seater but after years of no bills or hassles ive grown used to it!
Loan/purchase costs: 0
Insurance: £28 - could get cheaper but wanted legal cover/key cover and to pay monthly
Tax: £20 (estimate as never check)
MOT/Yearly servicing: £15, although I didnt service it this year and it passed mot fine, no other repairs
Tyres: £17 (needed 3 this year)
Petrol: £80 ish, usually a tank and a bit more
Bulbs: £1 a month (bought two headlight bulbs this year!!!)
Only intended to keep the car for a few months, but 3 years later still using it!! Need a 7 seater but after years of no bills or hassles ive grown used to it!
Monthly Payment: it’s lost 6 grand in 63 months. So £95.23
Insurance: £414 PA £34.50 a month.
Tax / VED: £25.97 DD to dvla
Fuel - £190-300 1 tank is about £95-100 depending on if I go regular or Ultimate.*
Servicing - £180 a year, £15 a month. ( due belts and pumps changing next year so will be more )
Brakes - £300 every couple of years. £12.50 a month. Did lots of town driving which took its toll. Change of job and commute has it easier.
Tyres. £25 a month. £118 each for Goodyear Duratracs. Last roughly 35k before getting to 4mm and changed. So every 2 years.
Maintenance. £101.98 a month since bought if I even it out. Usually try and sort things in big lumps. Brake and suspension refresh in mostly 1 hit. This year the auto box needed replacing at 161k and I had to put new injectors in it.
To cover bills and such. £310 a month.
- I can claim back fuel expenses and depending on the amount, I can pay as little as £50 of my own money for diesel a month.
So I’m going to keep running it for another 5 years or so.
Dacia Sandero AmbianceTCe-90 'shopping/commuting car'. In Zanussi White. 90 Horsepowers at 11 million rpm.
Bought new, cash, in May 2017: £8000
VED: £20
Insurance £200
Fuel: About £50 a month at 55 mpg.
2 years servicing deal, £250 up front.
Current value: £6104, according to WBAC :-)
Over 2 years: Fuel: £1200+£400 ins+£40 VED=£1640, less depreciation, tyre wear, beige cardigan, pipe, slippers, subscription to Saga Mag, blue rinse, and bulk supply of Senna Kot.
Free three years of RAC cover, and three year warranty.
I'm not sure if I can bear to remain thrifty but un-excited for three years. But there's £500 a month going into the Porsche Fund.
'Do the math', as they say. They are about £90 a month on PCP.
Bought new, cash, in May 2017: £8000
VED: £20
Insurance £200
Fuel: About £50 a month at 55 mpg.
2 years servicing deal, £250 up front.
Current value: £6104, according to WBAC :-)
Over 2 years: Fuel: £1200+£400 ins+£40 VED=£1640, less depreciation, tyre wear, beige cardigan, pipe, slippers, subscription to Saga Mag, blue rinse, and bulk supply of Senna Kot.
Free three years of RAC cover, and three year warranty.
I'm not sure if I can bear to remain thrifty but un-excited for three years. But there's £500 a month going into the Porsche Fund.
'Do the math', as they say. They are about £90 a month on PCP.
Skoda Octavia, intending to run from nearly new (five years ago) to scrap (another five years time hopefully)
Car cost £13k, so that's about £110 per month in depreciation down to nothing over 10 years.
I do about 15k miles a year which is 3 tanks of fuel per month (total of about £170 a month at the moment)
Tyres last about 2 years and cost £300 a set to replace (£12.50 per month)
Servicing ( at local indy VW specialist) is about £400 per year (£33 per month) including the more major items such as brake discs, pads etc.
Insurance is £250 per year (£20 per month) and tax £10 per month or thereabouts.
All in that's about £350 per month for a fairly average car run right across its life. As fuel is nearly half of that, could get that done to perhaps £300 per month with an equivalent diesel (until I had to spend £1000 on a replacement DPF when that fails).
Car cost £13k, so that's about £110 per month in depreciation down to nothing over 10 years.
I do about 15k miles a year which is 3 tanks of fuel per month (total of about £170 a month at the moment)
Tyres last about 2 years and cost £300 a set to replace (£12.50 per month)
Servicing ( at local indy VW specialist) is about £400 per year (£33 per month) including the more major items such as brake discs, pads etc.
Insurance is £250 per year (£20 per month) and tax £10 per month or thereabouts.
All in that's about £350 per month for a fairly average car run right across its life. As fuel is nearly half of that, could get that done to perhaps £300 per month with an equivalent diesel (until I had to spend £1000 on a replacement DPF when that fails).
ashleyman said:
...looking at replacements it doesn't seem like we can get anything but a banger which I don't want to risk therefore asking what other people are paying on their cars might help me get an idea of what's cheaper than a Golf but isn't a banger! I do not want to sell the Golf, buy a shed and then be faced with £1500 bill for repairs, unlikely but possible.
I think you could reduce that significantly. Example below is a 2016 Insignia SRI which I picked up in Dec 16 with 6k on the clock.Edited by ashleyman on Thursday 9th November 10:49
That's about all I want to spend per month. My 1st experience with a "new" car. Another 3 years to go on PCP and will decide what to do then. GFV is £4,400-00
Monthly Payment: £175-00
Insurance: £28-00
Tax: £9-50
Fuel - £120 (I use on average 2 tanks a month @ £60 a tank which gives 550 mile range)
Total: £332-00
When I say Banger, I’m talking about a proper banger car that’s probably not worth much to buy but could potentially cause lots of issues and spend on repairs. I know there are decent new cars out there on cheap lease deals or 1 or 3 year old cars we could potentially jump into but I wondered if it was even possible to make a big dent in our current spend or if we were being unrealistic at what it should cost to run a car.
A few people have said I’m not serious. I’m deadly serious but I wanted to find out if it was possible to run a car all in for say £300 a month so I could pocket the extra £300 and stick it in savings.
Our insurance isn’t changing much regardless of what car I put in the comparison websites which is depressing. The cheapest I’ve seen is £950 for a 1.0 ecoboost Fiesta.
I understand that we need to get a deposit together asap because prices will continue to increase. Our saving potential per month was £400 but with a few adjustments I've already made this morning it's now at £600 a month. If I managed to change the car and get the monthly running costs to £300, that’s still an extra £340 I could save bringing our total monthly save to £940 or £11,280 a year.
I fully understand that we won’t be driving a new car similar to the Golf R for a while but I am serious about this and needing to make a change, the wife is picky with her car choice so although I’d be happy to run around in an old manual clio, she wouldn’t do it. BUT she also needs to face facts and might have to start walking to work instead of driving the car. It’s only 2 miles away and the walk will do her good!
She's already gonna be super annoyed that I cancelled the £7 a month she pays to have her favourite Tesco Delivery slot guaranteed no matter when she orders online.
A few people have said I’m not serious. I’m deadly serious but I wanted to find out if it was possible to run a car all in for say £300 a month so I could pocket the extra £300 and stick it in savings.
Our insurance isn’t changing much regardless of what car I put in the comparison websites which is depressing. The cheapest I’ve seen is £950 for a 1.0 ecoboost Fiesta.
I understand that we need to get a deposit together asap because prices will continue to increase. Our saving potential per month was £400 but with a few adjustments I've already made this morning it's now at £600 a month. If I managed to change the car and get the monthly running costs to £300, that’s still an extra £340 I could save bringing our total monthly save to £940 or £11,280 a year.
I fully understand that we won’t be driving a new car similar to the Golf R for a while but I am serious about this and needing to make a change, the wife is picky with her car choice so although I’d be happy to run around in an old manual clio, she wouldn’t do it. BUT she also needs to face facts and might have to start walking to work instead of driving the car. It’s only 2 miles away and the walk will do her good!
She's already gonna be super annoyed that I cancelled the £7 a month she pays to have her favourite Tesco Delivery slot guaranteed no matter when she orders online.
RobM77 said:
M
Formula Renault
Owned outright
Insurance: £30 a month
VED: n/a
Fuel: This varies wildly, but I put about £350 a year in it.
Running costs: Tyres secondhand at £20 a set and I go through about 6 sets a year. Other bits vary hugely - this year will be expensive as I need a full engine rebuild!
Servicing: I do this myself, so just parts, which are standard cost for oil and filter. Other parts I either make myself or buy secondhand, so it varies wildly.
There's obviously no road risk, so is this just insurance against fire and theft, or does it cover you on track too?Formula Renault
Owned outright
Insurance: £30 a month
VED: n/a
Fuel: This varies wildly, but I put about £350 a year in it.
Running costs: Tyres secondhand at £20 a set and I go through about 6 sets a year. Other bits vary hugely - this year will be expensive as I need a full engine rebuild!
Servicing: I do this myself, so just parts, which are standard cost for oil and filter. Other parts I either make myself or buy secondhand, so it varies wildly.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff