How much does your car cost per month?

[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