How much does your car cost per month?
Discussion
gizlaroc said:
Yeah me too.
I just signed up to the knitting forum. They were asking how much they all spend on wool each month.
I smugly said "I spend nothing, leaves me to spend more on other things."
Sorry couldn't resist.
The fact is, for many, running a car on a shoe string only only works if, you don't rely on your car, you only do 250 odd miles a month or even less. Never really go much further than local or if you do it is just for pleasure.
Once you start doing 20, 30, 40 thousand miles a year or you need your car for work there is very little in it driving a 7-10 year old car vs something new or nearly new.
I would disagree with your last paragraph. I just signed up to the knitting forum. They were asking how much they all spend on wool each month.
I smugly said "I spend nothing, leaves me to spend more on other things."
Sorry couldn't resist.
The fact is, for many, running a car on a shoe string only only works if, you don't rely on your car, you only do 250 odd miles a month or even less. Never really go much further than local or if you do it is just for pleasure.
Once you start doing 20, 30, 40 thousand miles a year or you need your car for work there is very little in it driving a 7-10 year old car vs something new or nearly new.
I purchased a £500 2003 saab aero petrol ran it for 2.5 years and 50k miles, most of that mileage was in 2 years before COVID. All in before I got rid of it cost me just under £10k. PCP at £350 a month would be £10k before adding petrol plus other things.
Edited by Aiminghigh123 on Tuesday 20th October 19:34
SidewaysSi said:
Depends on usage and what you want from a car really. Personally whilst I do trackdays I find them quite dull and have other cars for that.
This is a fun road car and something I can enjoy at low speeds and low limits. I want maximum interaction and something I can park anywhere without worrying.
If total cost is approx £10k, that works for me...The £4k will be on a LSD, engine work and a short final drive.
For me, it's a load more fun (though way slower) than a new M2...
Exactly, more useable at a lower speed, fairly depreciation proof and without the awful steering and sThis is a fun road car and something I can enjoy at low speeds and low limits. I want maximum interaction and something I can park anywhere without worrying.
If total cost is approx £10k, that works for me...The £4k will be on a LSD, engine work and a short final drive.
For me, it's a load more fun (though way slower) than a new M2...
te suspension of all modern M cars. Family Bus (Ford Kuga)
£415 per month loan (bought outright)
£40 a month on servicing/repairs etc on average
£70 fuel
£13 a month VED
£48 a month insurance
£586 per month
Old Shed (Octavia)
£0 per month (cost me £400)
£40 per month on servicing
£30 on fuel
£13 a month on VED
£41.00 insurance
£124.00 per month
£415 per month loan (bought outright)
£40 a month on servicing/repairs etc on average
£70 fuel
£13 a month VED
£48 a month insurance
£586 per month
Old Shed (Octavia)
£0 per month (cost me £400)
£40 per month on servicing
£30 on fuel
£13 a month on VED
£41.00 insurance
£124.00 per month
Owned my A6 about 3 years.
15k miles in 3 years. c.£2500 fuel
4 x tyres £800
MOTs £150
Insurance £1200
Brake pads incl fitting £200
Repairs £300
2 DIY oil services £200
Road tax £320 (ish?)
Few odds and sods, cleaning stuff, wiper blades, roof rack etc £300.
Total £6k/3yrs
So around £2k a year/ 166/mo
Depreciation has probably been around £2k a year. Paid £17k for it, probably worth 11k now.
So now at £330 a month incl depreciation.
15k miles in 3 years. c.£2500 fuel
4 x tyres £800
MOTs £150
Insurance £1200
Brake pads incl fitting £200
Repairs £300
2 DIY oil services £200
Road tax £320 (ish?)
Few odds and sods, cleaning stuff, wiper blades, roof rack etc £300.
Total £6k/3yrs
So around £2k a year/ 166/mo
Depreciation has probably been around £2k a year. Paid £17k for it, probably worth 11k now.
So now at £330 a month incl depreciation.
Three years ago PomBstard said:
I reckon the cost to run the current fleet - Liberty GT, Golf GTI, 928S4 - works out around AU$1000/mth including all Insurance, fuel, maintenance, depreciation, consumables.
The Golf has been replaced by an i30N-Line but I reckon three years later the monthly cost is about the same, perhaps a little higher as the value of the 928 has probably plateaued so depreciation of the other two is no longer offset. Lets go with AU$1,250 a month total, so AU$15,000 a year for three fun, albeit quite different, carsEdited by PomBstard on Tuesday 20th October 23:14
alec.e said:
Mercedes CL500 BiTurbo- daily
Cost: paid in full
Insurance: £41
Fuel: £160
VED: £49
Servicing: £40
Total per month: £290
BMW M6- weekend car
Cost: paid in full
Insurance: £33
Fuel: £20
VED: £27
Servicing: £20
Total per month: £100
I love the man maths of completely forgetting about depreciation!Cost: paid in full
Insurance: £41
Fuel: £160
VED: £49
Servicing: £40
Total per month: £290
BMW M6- weekend car
Cost: paid in full
Insurance: £33
Fuel: £20
VED: £27
Servicing: £20
Total per month: £100
ddom said:
SidewaysSi said:
Depends on usage and what you want from a car really. Personally whilst I do trackdays I find them quite dull and have other cars for that.
This is a fun road car and something I can enjoy at low speeds and low limits. I want maximum interaction and something I can park anywhere without worrying.
If total cost is approx £10k, that works for me...The £4k will be on a LSD, engine work and a short final drive.
For me, it's a load more fun (though way slower) than a new M2...
Exactly, more useable at a lower speed, fairly depreciation proof and without the awful steering and sThis is a fun road car and something I can enjoy at low speeds and low limits. I want maximum interaction and something I can park anywhere without worrying.
If total cost is approx £10k, that works for me...The £4k will be on a LSD, engine work and a short final drive.
For me, it's a load more fun (though way slower) than a new M2...
te suspension of all modern M cars. damn right! The M2 is one of the very few new cars I would consider buying but it gets its pants pulled down by my old crock when driven back to back.SidewaysSi said:
alec.e said:
Mercedes CL500 BiTurbo- daily
Cost: paid in full
Insurance: £41
Fuel: £160
VED: £49
Servicing: £40
Total per month: £290
BMW M6- weekend car
Cost: paid in full
Insurance: £33
Fuel: £20
VED: £27
Servicing: £20
Total per month: £100
I love the man maths of completely forgetting about depreciation!Cost: paid in full
Insurance: £41
Fuel: £160
VED: £49
Servicing: £40
Total per month: £290
BMW M6- weekend car
Cost: paid in full
Insurance: £33
Fuel: £20
VED: £27
Servicing: £20
Total per month: £100
Aiminghigh123 said:
gizlaroc said:
Yeah me too.
I just signed up to the knitting forum. They were asking how much they all spend on wool each month.
I smugly said "I spend nothing, leaves me to spend more on other things."
Sorry couldn't resist.
The fact is, for many, running a car on a shoe string only only works if, you don't rely on your car, you only do 250 odd miles a month or even less. Never really go much further than local or if you do it is just for pleasure.
Once you start doing 20, 30, 40 thousand miles a year or you need your car for work there is very little in it driving a 7-10 year old car vs something new or nearly new.
I would disagree with your last paragraph. I just signed up to the knitting forum. They were asking how much they all spend on wool each month.
I smugly said "I spend nothing, leaves me to spend more on other things."
Sorry couldn't resist.
The fact is, for many, running a car on a shoe string only only works if, you don't rely on your car, you only do 250 odd miles a month or even less. Never really go much further than local or if you do it is just for pleasure.
Once you start doing 20, 30, 40 thousand miles a year or you need your car for work there is very little in it driving a 7-10 year old car vs something new or nearly new.
I purchased a £500 2003 saab aero petrol ran it for 2.5 years and 50k miles, most of that mileage was in 2 years before COVID. All in before I got rid of it cost me just under £10k. PCP at £350 a month would be £10k before adding petrol plus other things.
Cars cost money for the majority of people, be that depreciation/payments, fuel or whatever.
If you don't do the miles the insurance, tax, servicing and depreciation can seem a lot for so few miles, if you do big miles the fuel costs on an older car and upkeep can make you wonder why you're not in a new, less needy, more economical newer car.
I did it a few years back, went from an E350 petrol estate to an older 530d touring to 3 year old super efficient 520d touring and they all pretty much came in at roughly the same cost each month.
I bought a 320d Effcient Dynamic touring, F31, for £4200 at the stat of lockdown. Now, that was a car that would do 700 miles to £50 of fuel, was extremely reliable and even with 130k miles on it felt new tight still. That would be a good car to do 4 years and 100k miles in. If it had been auto I would have done too. So yeah it can be done, but then I can do all spanner work, for many, a 7 year old car with 130000 miles on it already would scare them silly to the point they would be constantly worried about something going wrong and not enjoy it. For many paying £50 a week to be in something reliable with warranty is something worth paying.
BTW. what mileage and MPG were you getting from the £500 Saab?
gizlaroc said:
Aiminghigh123 said:
gizlaroc said:
Yeah me too.
I just signed up to the knitting forum. They were asking how much they all spend on wool each month.
I smugly said "I spend nothing, leaves me to spend more on other things."
Sorry couldn't resist.
The fact is, for many, running a car on a shoe string only only works if, you don't rely on your car, you only do 250 odd miles a month or even less. Never really go much further than local or if you do it is just for pleasure.
Once you start doing 20, 30, 40 thousand miles a year or you need your car for work there is very little in it driving a 7-10 year old car vs something new or nearly new.
I would disagree with your last paragraph. I just signed up to the knitting forum. They were asking how much they all spend on wool each month.
I smugly said "I spend nothing, leaves me to spend more on other things."
Sorry couldn't resist.
The fact is, for many, running a car on a shoe string only only works if, you don't rely on your car, you only do 250 odd miles a month or even less. Never really go much further than local or if you do it is just for pleasure.
Once you start doing 20, 30, 40 thousand miles a year or you need your car for work there is very little in it driving a 7-10 year old car vs something new or nearly new.
I purchased a £500 2003 saab aero petrol ran it for 2.5 years and 50k miles, most of that mileage was in 2 years before COVID. All in before I got rid of it cost me just under £10k. PCP at £350 a month would be £10k before adding petrol plus other things.
Cars cost money for the majority of people, be that depreciation/payments, fuel or whatever.
If you don't do the miles the insurance, tax, servicing and depreciation can seem a lot for so few miles, if you do big miles the fuel costs on an older car and upkeep can make you wonder why you're not in a new, less needy, more economical newer car.
I did it a few years back, went from an E350 petrol estate to an older 530d touring to 3 year old super efficient 520d touring and they all pretty much came in at roughly the same cost each month.
I bought a 320d Effcient Dynamic touring, F31, for £4200 at the stat of lockdown. Now, that was a car that would do 700 miles to £50 of fuel, was extremely reliable and even with 130k miles on it felt new tight still. That would be a good car to do 4 years and 100k miles in. If it had been auto I would have done too. So yeah it can be done, but then I can do all spanner work, for many, a 7 year old car with 130000 miles on it already would scare them silly to the point they would be constantly worried about something going wrong and not enjoy it. For many paying £50 a week to be in something reliable with warranty is something worth paying.
BTW. what mileage and MPG were you getting from the £500 Saab?
My commute was 99% motorway at odd hours very rarely traffic. Cruise set at 60-65 pod cast on and relax. Would do 38-42mpg sat at 60mph depending on temperature. Most tanks I would say I averaged 35-38mpg mainly because I would forget about saving fuel and just wanted to get home.
Repairs cost £2300 in 50k miles 2 years. Fuel eats up the costs. Cost me just under 20p per mile of which 16-17p was fuel alone. In the end scrapped it for £300.
If I have to do a big commute again plan would be s60 D5 or 1.9 vag under £1k. Hopefully it would last a year any big bills chuck it away and start again.
alec.e said:
SidewaysSi said:
alec.e said:
Mercedes CL500 BiTurbo- daily
Cost: paid in full
Insurance: £41
Fuel: £160
VED: £49
Servicing: £40
Total per month: £290
BMW M6- weekend car
Cost: paid in full
Insurance: £33
Fuel: £20
VED: £27
Servicing: £20
Total per month: £100
I love the man maths of completely forgetting about depreciation!Cost: paid in full
Insurance: £41
Fuel: £160
VED: £49
Servicing: £40
Total per month: £290
BMW M6- weekend car
Cost: paid in full
Insurance: £33
Fuel: £20
VED: £27
Servicing: £20
Total per month: £100
As part of our ongoing family finances audit, I recently did the maths on this. Cars where we live (Austria) are insanely expensive for anything other than a 1.2l max 70bhp and I’m sick of paying so much tax. Reducing car engine capacity is a good way of doing this.
We had two cars both 2.0tdi (snore), which when buying it made sense as I was doing 40k km a year across Europe and my wife was doing 25k commuting or so. I was also expensing most of this mileage and actually turning a nice profit.
During Covid, I have since realised that customers are perfectly happy to deal exclusively online and my company revenue has actually increased this year so I got rid of one car (unfortunately the cheaper one because my wife's one has some hangar rash), and bought a cheap runaround to replace it. I bought a 2012 Polo Cross, full option, mint condition from a doctor, boring as hell, 1.2 70bhp.
Motorbikes are much cheaper to insure and tax here so have decided that until I can afford to walk into the Porsche garage and buy a 911, that I’m going to save more each month and occasionally treat myself to new bicycles and motorbikes instead of cars which are just a tax burden.
I worked out that two cars were €1000-1200/month in depreciation, tax, insurance, servicing, etc. A ridiculous amount for the zero fun they bring/brought.
Polo Cross:
Insurance and tax €33/month
Servicing €15/month
Depreciation €30? No idea - the car cost basically nothing so not much to lose.
Fuel €70/month for ~1200km of ferrying kids about
Tyres €10/month (at a guess)
€168/month or €5/day everything included. Drops to €3 if you don’t use it. Lol.
The other one we kept still costs around €5-600 a month (for everything - standing costs of are €450) but gets used for everything else. It sucks but that’s what it costs.
One of the biggest issues here is the motor tax which on a 2.0l tdi is something absurd like €130/month. The tax is the same whether it’s an old car or a new car, so there’s no “just buy an older car and it’s cheaper to run” as the tax issue soon gets in the way - especially if you get a big bill. The only way to get round it is to run smaller cars.
We had two cars both 2.0tdi (snore), which when buying it made sense as I was doing 40k km a year across Europe and my wife was doing 25k commuting or so. I was also expensing most of this mileage and actually turning a nice profit.
During Covid, I have since realised that customers are perfectly happy to deal exclusively online and my company revenue has actually increased this year so I got rid of one car (unfortunately the cheaper one because my wife's one has some hangar rash), and bought a cheap runaround to replace it. I bought a 2012 Polo Cross, full option, mint condition from a doctor, boring as hell, 1.2 70bhp.
Motorbikes are much cheaper to insure and tax here so have decided that until I can afford to walk into the Porsche garage and buy a 911, that I’m going to save more each month and occasionally treat myself to new bicycles and motorbikes instead of cars which are just a tax burden.
I worked out that two cars were €1000-1200/month in depreciation, tax, insurance, servicing, etc. A ridiculous amount for the zero fun they bring/brought.
Polo Cross:
Insurance and tax €33/month
Servicing €15/month
Depreciation €30? No idea - the car cost basically nothing so not much to lose.
Fuel €70/month for ~1200km of ferrying kids about
Tyres €10/month (at a guess)
€168/month or €5/day everything included. Drops to €3 if you don’t use it. Lol.
The other one we kept still costs around €5-600 a month (for everything - standing costs of are €450) but gets used for everything else. It sucks but that’s what it costs.
One of the biggest issues here is the motor tax which on a 2.0l tdi is something absurd like €130/month. The tax is the same whether it’s an old car or a new car, so there’s no “just buy an older car and it’s cheaper to run” as the tax issue soon gets in the way - especially if you get a big bill. The only way to get round it is to run smaller cars.
Gad-Westy said:
How are service costs so low? Seems incredible or have you just managed to avoid big bills so far?
After 200bhp, you don't use so much brakes and tyres. And the more you drive it, the more it appreciate in value 
This topic makes much more sense after you sold the car, or if you run a shed
Magnum 475 said:
We run three cars:
Wife's BMW 220 - paid for, so costs tax, insurance and occasional servicing. Easily <£750 / year
My E220D - bought for cash new in 2012. Costs tax, insurance and servicing. c£1,000 / year
My 987S - also bought for cash s/h in 2008. Costs tax, insurance and service. c£1,000 / year
The E220 is now at the point where at 8 years & 150000 miles it's going to need some big expenditure. WBAC will be having it soon and I'll replace it with something newer. Probably an M240i or M2. Again, I'll pay cash as I don't like monthly outgoings. My car fund has been growing happily ever since I bought the E class, so paying cash is no problem.
As great as it is to list all 3 cars as under £1k a year, I think to make your costs in line with others in this thread you are missing a few things. Wife's BMW 220 - paid for, so costs tax, insurance and occasional servicing. Easily <£750 / year
My E220D - bought for cash new in 2012. Costs tax, insurance and servicing. c£1,000 / year
My 987S - also bought for cash s/h in 2008. Costs tax, insurance and service. c£1,000 / year
The E220 is now at the point where at 8 years & 150000 miles it's going to need some big expenditure. WBAC will be having it soon and I'll replace it with something newer. Probably an M240i or M2. Again, I'll pay cash as I don't like monthly outgoings. My car fund has been growing happily ever since I bought the E class, so paying cash is no problem.
1. Fuel (avg monthly spend)
2. Depreciation.
You may not be paying monthly for the car but you bought it for a price so on day 1, it cost you £xxxx so that cost divided over ownership period is your current cost per month.
Then when you sell it, you can minus the sale price and only cost the depreciation.
Obviously the longer you own a car the lower the monthly impact.
My Lexus CT200h, sold few months ago (so real value of devaluation - maintenance done myself - insurance for road parking in London)
2019 is 12 months. 2020 is only 9 months, less mileage as Covid
2019 is 12 months. 2020 is only 9 months, less mileage as Covid
Edited by cedrichn on Wednesday 21st October 09:12
Edited by cedrichn on Wednesday 21st October 09:13
nickfrog said:
Debaser said:
A lot of people are in denial about how much their cars cost to run. Some of the monthly figures are nonsense.
I didn't notice anything untoward. Any examples? Gassing Station | General Gassing | Top of Page | What's New | My Stuff