How much does your car cost you overall?

[nlel1975]

That petrol spend is so low you can't be doing more than about 1000 miles a year surely? There must surely be a more cost effective solution for you?

Yeah just over 1000 miles a year, I don’t mind getting it done by the main dealer, cost isn’t an issue.

 

[alexakasloth]

56000 miles
4 years
Purchase cost (inc interest): £9729
Current value: ~£4500
Depreciation: £5229
Fuel - £5760 (£120/month)
Servicing/MOT - £920
Tyres - ~£300 (GT Radial)
Insurance - £1520
VED - £580

Cost per mile if i'm working it out correctly is about 26p/mile.

 

[LuckyBenski]

I take a different spin on this as I grew up without a car so it's an optional luxury. My car was a work car for a few years, then we folded up and the boss let me keep it... Then a few years later asked me for £1000 for it

So assuming I paid £1000 in 2016 say, and it's worth £0 now because it's not worth the hassle of selling...

£200/year depreciation
£300/year insurance
£200/year tax/servicing/MOT/fluids etc
£120/year fuel (~1000 miles max)

I've worked out that living in London and mainly using it if I need to transport something, or my girlfriend... It would be cheaper just to have a pot for cab fares. Literally the costs are about the same, and in cabs I could relax and get stuff done rather than being angry at all the other drivers.

Might change if we move out of London soon but for now, if the car dies I'm not replacing it. And I'm not buying a nice car worth looking after until I have somewhere to keep it off terraced parking.

 

[nlel1975]

Then a few years later asked me for £1000 for it

I sold my late November 2007 Passion spec Smart Fortwo turbo 451 with 19383 miles on it to my niece for £ 1000 back in February 2019. I think she got a fair deal.

 

[dlockers]

I've worked out that living in London and mainly using it if I need to transport something, or my girlfriend... It would be cheaper just to have a pot for cab fares. Literally the costs are about the same, and in cabs I could relax and get stuff done rather than being angry at all the other drivers.

I don't live all that far from you and tried to explain this to my wife before she ***** 9 grand on an Ibiza that has done 235 miles in 2 years. And 200 of those were me using it. Add on top insurance, tax, and the fact its been knocked twice whilst parked outside - and the pot for Ubers which she still uses anyway ) would have been enormous...