How much does your car cost per month?
Discussion
ashleyman said:
Basically man maths caught up with me and I finally worked out how much it costs to keep my Golf R on the road. It's not good and I need to spend less and save more if I want to have a deposit for a property anytime soon. Thought process behind the Golf was we didn't want to buy something older that could be a money pit so ended up on the PCP bandwagon which is still a money pit. Looking at other cars it doesn't look like there's much saving to be had unless we stop the finance and buy something older for cash.
I just wondered if we were being realistic with what it costs the average person to run a car. Doesn't matter what it is.
If anyone could put down the make and model of car and what it costs it would really help me to understand if we were about average or had unrealistic expectations about actual costs of car ownership.
Monthly Payment - unless bought outright
Insurance - if you pay per year, divide premium by 12 or put in monthly Direct Debit
Tax / VED
Fuel
Mine looks like this:
Monthly Payment: £342.43
Insurance: £100.87
Tax / VED: £15.41
Fuel - £195 (We use on average about 3 tanks a month @ £65 a tank)
Total: £653.70
All of £7800 a year.
Any replies would help and I probably deserve the roasting I'm going to get but looking at PCP numbers on lesser cars it seems like there's not much more than £100 a month to be saved, I know that's £1200 a year but still not enough to make any dent in saving up the £30k I need in less than 6 years!
Any suggestions for a cheap reliable automatic? ha
You pay £1200 a year for insurance?? I just wondered if we were being realistic with what it costs the average person to run a car. Doesn't matter what it is.
If anyone could put down the make and model of car and what it costs it would really help me to understand if we were about average or had unrealistic expectations about actual costs of car ownership.
Monthly Payment - unless bought outright
Insurance - if you pay per year, divide premium by 12 or put in monthly Direct Debit
Tax / VED
Fuel
Mine looks like this:
Monthly Payment: £342.43
Insurance: £100.87
Tax / VED: £15.41
Fuel - £195 (We use on average about 3 tanks a month @ £65 a tank)
Total: £653.70
All of £7800 a year.
Any replies would help and I probably deserve the roasting I'm going to get but looking at PCP numbers on lesser cars it seems like there's not much more than £100 a month to be saved, I know that's £1200 a year but still not enough to make any dent in saving up the £30k I need in less than 6 years!
Any suggestions for a cheap reliable automatic? ha
treeroy said:
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
I'll never be able to replace it at that price. Just trying to enjoy the final few months
ashleyman said:
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.
Even with your insurance my panda would cost half that to run. Its very easy to run a car for £300 a month.It is possible.
I bought a E39 540i Sport in 2013 for £2900 and sold it this summer.
Over the 46 months I owned it the costs were:
Year 1 Insurance - £600
Year 2 Insurance - £450
Year 3 insurance - £400
Year 4 Insurance - £650 (after £50 refund)
Total - £2100
Tax - average of £285 pa.
Total - £1100
Tyres - 4x tyres @ £120 each = £480
Repairs:
Battery - £70
Alternator - £600
Autobox rebuild - £1800
PAS pump - £60
Service - £200
Total: £2,730
Petrol @ 20mpg - £4250 for 17k miles
All in it cost me £10,660 = £231pm
However I sold the car for £5500 (well it was written off) - this took my total cost of ownership to £8,060 - £175pm
But again, I bought back the salvage for £550, spent £900 repairing it and sold it again for £2500 - £7,010 for 46 months = £152pm
Not bad for a 4.4 V8 all costs in.
I bought a E39 540i Sport in 2013 for £2900 and sold it this summer.
Over the 46 months I owned it the costs were:
Year 1 Insurance - £600
Year 2 Insurance - £450
Year 3 insurance - £400
Year 4 Insurance - £650 (after £50 refund)
Total - £2100
Tax - average of £285 pa.
Total - £1100
Tyres - 4x tyres @ £120 each = £480
Repairs:
Battery - £70
Alternator - £600
Autobox rebuild - £1800
PAS pump - £60
Service - £200
Total: £2,730
Petrol @ 20mpg - £4250 for 17k miles
All in it cost me £10,660 = £231pm
However I sold the car for £5500 (well it was written off) - this took my total cost of ownership to £8,060 - £175pm
But again, I bought back the salvage for £550, spent £900 repairing it and sold it again for £2500 - £7,010 for 46 months = £152pm
Not bad for a 4.4 V8 all costs in.
brickwall said:
keith333 said:
2012 BMW X5
Depreciation: £30
Interest costs (£20k @ 3%): £50
Servicing (inc breakdown cover): £43
Insurance: £37
Fuel (12,000 miles per annum): £150
Road Tax: £23
Tyres: £30
Total: £363 monthly, £4,350 per annum
I purchased mine outright, so I've added cost of interest so that my costs equate to a leased car. Three percent simply because that's what my mortgage costs me.
£360 a year depreciation on a car bought for £20k seems implausible? Own it 10 years and you reckon it'll be worth £16,500 at the end? Depreciation: £30
Interest costs (£20k @ 3%): £50
Servicing (inc breakdown cover): £43
Insurance: £37
Fuel (12,000 miles per annum): £150
Road Tax: £23
Tyres: £30
Total: £363 monthly, £4,350 per annum
I purchased mine outright, so I've added cost of interest so that my costs equate to a leased car. Three percent simply because that's what my mortgage costs me.
That would make it £683 monthly and £8,196 per annum.
XKR:
Monthly Payment - bought outright
Insurance - premium 560/12=£47pm
Tax / VED £48pm
Fuel - If i drove it daily, it would likely be a tank a week at £70.
Tyres £1000 per set. £300+ service annually.
so £380pm not counting cost of tyres, servicing etc not bad.
Mondeo ST TDCI:
Monthly Payment - bought outright
Insurance - premium 400/12=£33pm
Tax / VED £18pm
Fuel - 2 tanks per month, about £30pw.
£250 for a set of tyres, £50 per (DIY!) service (6 monthly)
so £171
Monthly Payment - bought outright
Insurance - premium 560/12=£47pm
Tax / VED £48pm
Fuel - If i drove it daily, it would likely be a tank a week at £70.
Tyres £1000 per set. £300+ service annually.
so £380pm not counting cost of tyres, servicing etc not bad.
Mondeo ST TDCI:
Monthly Payment - bought outright
Insurance - premium 400/12=£33pm
Tax / VED £18pm
Fuel - 2 tanks per month, about £30pw.
£250 for a set of tyres, £50 per (DIY!) service (6 monthly)
so £171
V8V
Insurance £750 / £65pm roughly
Tax £535 / £45 pm
Depreciation appx £200 pm (?) not selling anyway.
Fuel @15mpg £100 pm
Service in the last 12m = £1300 odd
Repair £200 (squeaky brakes)
About 2000 Miles
Maybe £3K p.a.
C Class
€480 pm
Tax €20 pm
Insurance included in the €480
Fuel €200 pm
Repairs etc €0 all covered
(20000 km)
About €8k p.a.
Spitfire
12m ownership cost me about €1200, didn’t break down once. Maybe 2000km.
About €1200 p.a.
Insurance £750 / £65pm roughly
Tax £535 / £45 pm
Depreciation appx £200 pm (?) not selling anyway.
Fuel @15mpg £100 pm
Service in the last 12m = £1300 odd
Repair £200 (squeaky brakes)
About 2000 Miles
Maybe £3K p.a.
C Class
€480 pm
Tax €20 pm
Insurance included in the €480
Fuel €200 pm
Repairs etc €0 all covered
(20000 km)
About €8k p.a.
Spitfire
12m ownership cost me about €1200, didn’t break down once. Maybe 2000km.
About €1200 p.a.
2011 Golf 2.0TDi 140 bought recently for £7000 with 50k miles, including a 2year 40k mile wear and tear warranty.
Monthly payment - £0 but for the sake of this lets assume £100 depreciation/month
Insurance - £40/month
Tax - £20/yr so £1.67/month
Fuel - assume half your Golf R so £97.50/month
MoT - £4/month
Annual service £180 at local indy - so £15/month
so £258/month or £3096/year.
Monthly payment - £0 but for the sake of this lets assume £100 depreciation/month
Insurance - £40/month
Tax - £20/yr so £1.67/month
Fuel - assume half your Golf R so £97.50/month
MoT - £4/month
Annual service £180 at local indy - so £15/month
so £258/month or £3096/year.
Just got the M6, so some costs are forecast, not actual.
M6:
Cost: £0
Ins: £34 - it’s just short of £800 for both for the year, so 50:50)
Tax: £44.58 -the top band as 1 payment/12
Fuel: £150
Mondial Warranty: £114
(343)
760:
Cost: £0
Ins: £34
Tax: £25.41 - the top band pre 06 as 1 payment/12
Fuel: £150
(210)
Running total = 553.
However, while both are owned outright, there’s the servicing cost to add back in, and MOT, which isn’t covered above.
Tyres last 2 years @ 1000/set = 1000/year rough maths based on summer & winter on the 7, summer only on the 6, but less long lasting! (84)
MOT x 2 (7)
1x service/oil change/misc year each @ 1000/ea = (168) - this is probably under-estimated.
That’s 812/month. (Being safe, call it 900).
Not that bad IMO.
M6:
Cost: £0
Ins: £34 - it’s just short of £800 for both for the year, so 50:50)
Tax: £44.58 -the top band as 1 payment/12
Fuel: £150
Mondial Warranty: £114
(343)
760:
Cost: £0
Ins: £34
Tax: £25.41 - the top band pre 06 as 1 payment/12
Fuel: £150
(210)
Running total = 553.
However, while both are owned outright, there’s the servicing cost to add back in, and MOT, which isn’t covered above.
Tyres last 2 years @ 1000/set = 1000/year rough maths based on summer & winter on the 7, summer only on the 6, but less long lasting! (84)
MOT x 2 (7)
1x service/oil change/misc year each @ 1000/ea = (168) - this is probably under-estimated.
That’s 812/month. (Being safe, call it 900).
Not that bad IMO.
Jefferson Steelflex said:
10,000 pa
I'll never be able to replace it at that price. Just trying to enjoy the final few months
May I ask how it was so cheap? I looked at the golfs when I got my Fiesta ST and the GTI was 270 at the absolute cheapest on 10K. I've looked at golf R deals for a colleague who wants one and they're all like 330+. Either way very impressed and a little bit jealous!I'll never be able to replace it at that price. Just trying to enjoy the final few months
ashleyman said:
.......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....
Get a different wife?!Joking aside, she needs to make adjustments too if your partnership is going to work.
Prinny said:
Just got the M6, so some costs are forecast, not actual.
M6:
Cost: £0
Ins: £34 - it’s just short of £800 for both for the year, so 50:50)
Tax: £44.58 -the top band as 1 payment/12
Fuel: £150
Mondial Warranty: £114
(343)
760:
Cost: £0
Ins: £34
Tax: £25.41 - the top band pre 06 as 1 payment/12
Fuel: £150
(210)
Running total = 553.
However, while both are owned outright, there’s the servicing cost to add back in, and MOT, which isn’t covered above.
Tyres last 2 years @ 1000/set = 1000/year rough maths based on summer & winter on the 7, summer only on the 6, but less long lasting! (84)
MOT x 2 (7)
1x service/oil change/misc year each @ 1000/ea = (168) - this is probably under-estimated.
That’s 812/month. (Being safe, call it 900).
Not that bad IMO.
If both owned outright how can cost be £0 ?M6:
Cost: £0
Ins: £34 - it’s just short of £800 for both for the year, so 50:50)
Tax: £44.58 -the top band as 1 payment/12
Fuel: £150
Mondial Warranty: £114
(343)
760:
Cost: £0
Ins: £34
Tax: £25.41 - the top band pre 06 as 1 payment/12
Fuel: £150
(210)
Running total = 553.
However, while both are owned outright, there’s the servicing cost to add back in, and MOT, which isn’t covered above.
Tyres last 2 years @ 1000/set = 1000/year rough maths based on summer & winter on the 7, summer only on the 6, but less long lasting! (84)
MOT x 2 (7)
1x service/oil change/misc year each @ 1000/ea = (168) - this is probably under-estimated.
That’s 812/month. (Being safe, call it 900).
Not that bad IMO.
L0gan5 said:
Prinny said:
Just got the M6, so some costs are forecast, not actual.
M6:
Cost: £0
Ins: £34 - it’s just short of £800 for both for the year, so 50:50)
Tax: £44.58 -the top band as 1 payment/12
Fuel: £150
Mondial Warranty: £114
(343)
760:
Cost: £0
Ins: £34
Tax: £25.41 - the top band pre 06 as 1 payment/12
Fuel: £150
(210)
Running total = 553.
However, while both are owned outright, there’s the servicing cost to add back in, and MOT, which isn’t covered above.
Tyres last 2 years @ 1000/set = 1000/year rough maths based on summer & winter on the 7, summer only on the 6, but less long lasting! (84)
MOT x 2 (7)
1x service/oil change/misc year each @ 1000/ea = (168) - this is probably under-estimated.
That’s 812/month. (Being safe, call it 900).
Not that bad IMO.
If both owned outright how can cost be £0 ?M6:
Cost: £0
Ins: £34 - it’s just short of £800 for both for the year, so 50:50)
Tax: £44.58 -the top band as 1 payment/12
Fuel: £150
Mondial Warranty: £114
(343)
760:
Cost: £0
Ins: £34
Tax: £25.41 - the top band pre 06 as 1 payment/12
Fuel: £150
(210)
Running total = 553.
However, while both are owned outright, there’s the servicing cost to add back in, and MOT, which isn’t covered above.
Tyres last 2 years @ 1000/set = 1000/year rough maths based on summer & winter on the 7, summer only on the 6, but less long lasting! (84)
MOT x 2 (7)
1x service/oil change/misc year each @ 1000/ea = (168) - this is probably under-estimated.
That’s 812/month. (Being safe, call it 900).
Not that bad IMO.
I’m no financial expert, the money I have paid for the cars is “gone” as far as I’m concerned, and if I get anything back on selling/scrapping, it’s a bonus. So, it doesn’t cost me anything as an ONGOING cost.
If you want to work out a real cost, then you’ll have to wait for me to sell/scrap the cars, which I have no intention of doing at this time. FWIW, both are at the bottom of their depreciation curves IMO, the prices on Autotrader aren’t going down for either over the last year - so I’m sticking with zero.
Prinny said:
I’m no financial expert, the money I have paid for the cars is “gone” as far as I’m concerned, and if I get anything back on selling/scrapping, it’s a bonus. So, it doesn’t cost me anything as an ONGOING cost.
If you want to work out a real cost, then you’ll have to wait for me to sell/scrap the cars, which I have no intention of doing at this time. FWIW, both are at the bottom of their depreciation curves IMO, the prices on Autotrader aren’t going down for either over the last year - so I’m sticking with zero.
Edited by L0gan5 on Thursday 9th November 15:25
This thread has shocked me...my car is costing a ridiculous amount of money...and I don't even like it that much.
2014 X6 3.0D
15000 mpa of mostly city driving.
Monthly lease £500
Insurance £200
Tyres and Servicing etc £150
Fuel £400
Total £1250
If it was a Ferrari costing that much I wouldn't care at all...time to buy a cheaper car outright I think!
2014 X6 3.0D
15000 mpa of mostly city driving.
Monthly lease £500
Insurance £200
Tyres and Servicing etc £150
Fuel £400
Total £1250
If it was a Ferrari costing that much I wouldn't care at all...time to buy a cheaper car outright I think!
L0gan5 said:
Prinny said:
I’m no financial expert, the money I have paid for the cars is “gone” as far as I’m concerned, and if I get anything back on selling/scrapping, it’s a bonus. So, it doesn’t cost me anything as an ONGOING cost.
If you want to work out a real cost, then you’ll have to wait for me to sell/scrap the cars, which I have no intention of doing at this time. FWIW, both are at the bottom of their depreciation curves IMO, the prices on Autotrader aren’t going down for either over the last year - so I’m sticking with zero.
OP: if you are deadly serious about this, then get yourself over to the MrMoneyMustache website. I think there's an especially pertinent blog post under the title of "Jeep suicide" or some such. Be warned that you may have some preconceptions challenged.
One of the tried and tested keys to low cost car ownership is buying something relatively cheap and then keeping it for a long time (others, in the form of very bottom end leasing, have emerged). I'm trying the former approach at the moment, but only time will tell if I have the restraint necessary.
One of the tried and tested keys to low cost car ownership is buying something relatively cheap and then keeping it for a long time (others, in the form of very bottom end leasing, have emerged). I'm trying the former approach at the moment, but only time will tell if I have the restraint necessary.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff