How much does your car cost per month?

[malks222]

bmw 520d (F11) 2014

Bought September 2020, owned for 1 month so far.........

Price- £11,300
WBAC Value- £9,000


Depreciation- £2,300

Insurance- £342
Tax- £150
parking permit- £127

new air springs- £155

Total- £3,074

Its been an expensive month! hoping it gets cheaper per month from here on in!

[yajeed]

red_slr said:

Serious question, how do you get it so cheap?

Our iPace costs about £8-10 to charge each time IIRC.

I drive to work and plug it in. I also have it scheduled to only charge at home when it’s a cheap rate (through octopus).

[coolg]

Lamborghini

Bought for £64,000 3 years ago

Servicing done by myself £1000
Coils £1000
Tyres £900
Insurance as part of Multi car about £450 X 3 = £1350
Tax £300 or so X 3 = £900
MOT £35 X 3 = £105

Fuel - i don't keep a record but say £30 a month - it is not an everyday car. £360 X 3 = £1080.

£6335 in costs.

Which is £176 a month or £1.26 per mile.
Looking at it like that it is expensive, although tyres and coils are annual costs.

Appreciation has offset that though

Edited by coolg on Wednesday 21st October 15:07

[GregK2]

2014 Honda CR-Z owned for a little over a year.
Costs are a little high so far but should be a fair bit lower next year if nothing goes wrong.

4x tyres £353
Major Service kit £175
Replacement battery £80
Wipers £20
VED £20
Insurance £204

Monthly:
Petrol £75 7,500 annual mileage
Depreciation £50

Total monthly £196

[anonymous-user]

The Spruce Goose said:

Lord.Vader said:

So how are you paying for the car? Isn’t there interest on the PCP / HP, or whatever?

I paid cash but total about 3k, which in an bank account for be what, 60 quid. Which is why i posted it is for higher purchases to give a fair comparison against pcop.

But then you are paying whatever interest rate the finance is on, so your investment or savings inclusion would only be the delta.

[Condi]

In total I have no idea.

It gets repairs when it needs fixing, it gets fuel to go places, it gets insurance and tax and MOT as required by law. It gets a parking permit because that is cheaper than paying parking fines. Depreciation is only a paper cost once the car is paid for.

After 5 years of ownership and approaching 170,000 miles, it doesn't owe me much.

[Starjet99]

Last 12 months of my shed of a Fiat Grande Punto



23.2p per mile including allowing for depreciation, which is quite pessimistic looking at adverts for similar cars. Or £213.42 per month.

I get 45p per mile for business miles, so based on the fact I did just over 7,000 of them, I'm actually in an over all profit of £616.40. Cash back!

[gizlaroc]

Condi said:

Depreciation is only a paper cost once the car is paid for.

Depreciation is never a paper cost.

[kambites]

gizlaroc said:

Condi said:

Depreciation is only a paper cost once the car is paid for.

Depreciation is never a paper cost.

Surely if one views depreciation as a paper cost (because you haven't actually paid anything for it), one has to view the entire purchase cost as part of the running costs up until this point? You can't discount both and expect to end up with a number which means anything.

[Shrimpvende]

I won't break it down to too much detail, but on average my spreadsheet says around £2400 a month, depending on usage (petrol is the biggest variable).

That includes:

AM Vantage PCP (owned from new)
RRS P400e lease (owned from new)
Clio Trophy - no depreciation, consumables, repairs and track day consumables/mods

Insurance - about £200 a month
Tax - £68 for the AM and Clio (Clio is surprisingly high at £350pa), thankfully it's included in RRS lease
Fuel - probably average of £120 a month for this year as I've not driven as much as normal, especially the AM
Electricity for hybrid RRS - £30-50 a month, charged most nights

Servicing on the Vantage is free for 5 years, the RRS will need 1 minor service during the 3 year lease so these costs are minimal. It's the Clio that's needed track prep, fluids, tyres etc. I might need a set of rears for the AM in the next 12 months or so for £500 which isn't factored in above, I might also get the Clio's big belt service done slightly early which is another £500 or so. Not a cheap hobby!

[Condi]

kambites said:

gizlaroc said:

Condi said:

Depreciation is only a paper cost once the car is paid for.

Depreciation is never a paper cost.

Surely if one views depreciation as a paper cost (because you haven't actually paid anything for it), one has to view the entire purchase cost as part of the running costs up until this point? You can't discount both and expect to end up with a number which means anything.

Of course.

That makes sense because you've paid out that money upfront, without any idea what the car might actually be worth in 1/2/5 years time when you come to sell it.

[Zoon]

MaxFromage said:

kambites said:

I'd assume it's a lease if it's a company car.

That's correct.

Still sounds far too cheap even on a lease.

[kambites]

Zoon said:

MaxFromage said:

kambites said:

I'd assume it's a lease if it's a company car.

That's correct.

Still sounds far too cheap even on a lease.

Sounds plausible for the amount sacrificed from his net salary if he's a 40% tax payer. That would mean the lease itself was around £500 a month.

[gizlaroc]

Condi said:

Of course.

That makes sense because you've paid out that money upfront, without any idea what the car might actually be worth in 1/2/5 years time when you come to sell it.

But you always know what it is worth on the day you are calculating the depreciation so far, give or take.

And you know what it will be after year 1, 2, 3 etc. etc. give or take too.

[cedrichn]

Starjet99 said:

Last 12 months of my shed of a Fiat Grande Punto



23.2p per mile including allowing for depreciation, which is quite pessimistic looking at adverts for similar cars. Or £213.42 per month.

I get 45p per mile for business miles, so based on the fact I did just over 7,000 of them, I'm actually in an over all profit of £616.40. Cash back!

£500 in maintenance ? :P Potential for more saving next year

[cedrichn]

Shrimpvende said:

I won't break it down to too much detail, but on average my spreadsheet says around £2400 a month, depending on usage (petrol is the biggest variable).

That includes:

AM Vantage PCP (owned from new)
RRS P400e lease (owned from new)
Clio Trophy - no depreciation, consumables, repairs and track day consumables/mods

Insurance - about £200 a month
Tax - £68 for the AM and Clio (Clio is surprisingly high at £350pa), thankfully it's included in RRS lease
Fuel - probably average of £120 a month for this year as I've not driven as much as normal, especially the AM
Electricity for hybrid RRS - £30-50 a month, charged most nights

Servicing on the Vantage is free for 5 years, the RRS will need 1 minor service during the 3 year lease so these costs are minimal. It's the Clio that's needed track prep, fluids, tyres etc. I might need a set of rears for the AM in the next 12 months or so for £500 which isn't factored in above, I might also get the Clio's big belt service done slightly early which is another £500 or so. Not a cheap hobby!

Ok, I think we can close the thread now...
Thanks for living our dream :P