- How much does your car cost to run?
That’s just silly molgrips unless you plan to eventually replace it with a cheaper model, you have to save what it’s depreciating to buy a replacement. That’s the true cost whether you like to admit or account for it or not
It is a cost of course, but it’s not a RUNNING cost. The purchase cost and the running cost are separate in my view. I don’t consider it a depreciating asset, I consider it something I own that I have bought, like my trousers or my computer.
Oh and to the chap up there who was doing 6k a year and replacing tyres every two years – you can get far more out of tyres. 28k out of the last set of Michelins on the Prius, and the energy savers are looking like beating 50k. Energy savers cost somewhat more when new but the same thing that makes them fuel efficient makes them last twice as long as normal tyres.Posted 7 years agocoffeekingMember
Two tyres – 720
WTF do you drive?!
Oh and to the chap up there who was doing 6k a year and replacing tyres every two years – you can get far more out of tyres
Depends on the car and how you drive it. never seen more than 12K out of my celicas front tyres, it’s a nose-heavy 4wd driven hard. I suspect, from his figures, he’s got a RWD fast car IIRCPosted 7 years ago
I said you CAN get more out of tyres. He was asking how to reduce his running costs – driving smoothly and sensibly is a good way 🙂
I do not class it as a running cost. If I die in three years’ time having not replaced it, then the depreciation was not a factor. Running costs are what it costs me to drive the car about and keep it on the road. How much it cost when new and how much I might make when selling it are NOT related to the monthly cost of fuel, insurance and whatnot. It makes no sense to me to include it in monthly running costs – if you are about to change the car then change your mind and keep it another two years, do you go back in time and give yourself another £20 each month you are driving it? Of course not. I am paid monthly, my budget works on a monthly cycle, my car purchases are every 5-10 years.Posted 7 years agoDibbsMember
My Smart CDi has done just over 25k miles since I bought it in Sept 09, it’s had two services (£300ish total) insurance around £175 a year (£350 total) Tax £0, I put half a litre of oil in it once, and fuel is currently working out at 10p per mile (it was 7p when I bought the car)and I’ve not had to buy a tyre yet. If I put the depreciation at £3000 a year I make it under 15p a mile to run all in. 😉
But I do have to drive around in a Smart and put up with all the p**s taking.Posted 7 years agoTheArtistFormerlyKnownAsSTRSubscriber
Insurance – just gone up to £1600
Tax? – around £200
Tyres – one set a year £360 (mates rates)
Servicing x3 – £350
Fuel – approx £7000
MOT – £30
Cam-belt & brakes done at last service – £450
Total – £9990, or £832 pcm.
However, 90% is business use, so £83 pcmPosted 7 years ago
Is the fact you only look at running costs due to you knowing that taking the depreciation of your ‘appliance’ into account – you could actually afford to run a proper car?
I don’t drive a Prius because I can’t afford anything else 🙂
I don’t only look at running costs. I look at running costs independently of purchase price. I can’t see why this is so complicated. It is a cost, just not a monthly running cost. When I finally do sell it I could go back and re-calculate what it actually cost me per month, but what’s the point of that? Wouldn’t retrospectively make any difference to my monthly spending power back then.Posted 7 years agoSaccadesMember
an old oil burning stove aka Focus estate
On that website my running cost is 5p per mile… Which is nice.
Purchase Costs Amount
1 Cost of car £1
2 I could sell my car for £2,000
3 I have owned my car for 12
4 I borrowed * £0
5 Length of loan * 0
6 Monthly repayment * £0
7 Total loan cost including interest £0
8 Total interest paid £0
9 Interest paid each month £0
a. I bought my car without borrowing any money
10 Each month my car is worth less -£167
11 My annual purchase costs -£1,999
But I have also lost interest on the money I spent on the car
b. I am still making loan repayments
12 Each month my car is worth less £0
13 My monthly interest is £0
14 My annual purchase costs £0
c. I bought my car with a loan which is now repaid
15 Each month my car is worth less £0
16 My annual purchase costs £0
Annual Fixed Costs
I pay these every year no matter how little I drive:
17 Car tax: depends on fuel used & carbon emissions £500
18 Car insurance £500
19 Breakdown membership * £0
20 MOT test fee (excluding repairs needed to pass) * £21 (I pay 42 euro every 2 years)
21 Garage costs (e.g. rent/council tax) * £0
22 Parking permit costs (home and/or work) * £0
23 Total fixed costs £1,021
Every time I drive I spend more:
24 Miles per year the car is driven 10000
25 Miles per gallon of fuel on average 49
26 Miles per litre of fuel on average 10.8
27 Litres of fuel purchased per year 927.8
28 Price you pay for fuel 146
29 Total cost of fuel £1,355
30 Estimate of 12 month’s parts, servicing costs, repairs and oil * £150 (i service myself on the drive)
31 Estimate of 12 month’s parking, tolls and car washes * £0
32 Driving fines (parking, speeding etc) * £0
33 Total variable running costs (pa) £1,505
Total Annual Costs
34 Total purchase costs (pa) -£1,999
35 Total fixed costs (pa) £1,021
36 Total ownership costs (pa) -£978
37 Total running costs (pa) £1,505
38 Total annual cost of car £527
39 Total monthly cost of car £44 40 Total weekly cost of car £10
41 Total car costs per mile driven £0.05
It’s thrown out a lot as I was given the car, but then I pay much higher tax and insurance here, allowing for buying the car it’s about 21c per mile.Posted 7 years ago
Molgrips – of course it is a cost
Yes it’s a cost.
No it is not a running cost.
A running cost is actual cash that comes out of my monthly budget. Depreciation does not come out of my monthly budget. There is no direct debit on my bank statement that says ‘car depreciation’. When doing a monthly budget I do not need to factor it in.
A running cost is a regular cash outlay.
Asset depreciation is a reduction in value of something you own.Posted 7 years agomk1fanMember
Mine worked out at 40p a mile (excluding depreciation)
I only do 6,000 miles a year as I try to avoid using it as much as possible. Most of my journies are over 30-miles and include trips to the alps and Wales.
If I increase the mileage the cost per mile goes down. If I stick in 12,000 miles it’s 28p a mile!
Not bad for a 12-year old VW Bora with the very very old 2.0l 8v lump in it.Posted 7 years agosteviegilMember
Tax – £260
Insurance – £300
Service – £170
MOT – £60
Tires – £400 for a set of non ditchfinders!
15k @ 30 Mpg – not working it out cause i will cry as its all private miles!
Owned the same car for the last 5 years and its depreciated like a lead balloon, possibly 2k per year – but its a vauxhall so to be expected..!Posted 7 years agoGJPMember
Audi A3 Sportback 2.0TFSI Quattro. Owned from new, now 5 and 1/2 years old.
Road Tax £225
BreakDown Cover £100
Total = £3155, for about 7500 miles = 42p per mile
Taking into account depreciation to date estimated @ £3300 per annum = Total £6455
Giving an overall cost per mile of 86pPosted 7 years ago
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