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It's difficult when actually owning a car to work out the running costs - per year, per mile or whatever - as so much depends on current value. Bought a used car 12 years ago and have just sold it for £80 as spares / repairs (failed MOT) and so can report that - within reasonable factors of error -- P 663 HKD cost me around 43p / mile for ownership.
Not sure if that's reasonable or not - servicing was a bit pricey on reflection (just couldn't manage that solo), insurance wasn't too bad, fuel - ok for its age really..
thoughts?
You need to get out more.....
Well HMRC uses 45p/mile so that's a reasonable ballpark guide, I think the AA pretty much agree. But a cheap car comes in at about half that if you are doing a reasonable mileage and aren't too fussy about driving a rusty shed. IME.
I'd never be able to work it out. Do you keep all your receipts including tyres and oil and things?
I'm impressed but I'd really have no idea. 😉 I just accept owning a car is going to be expensive.
I just accept owning a car is going to be expensive.
I do too.
But it doesn't mean I like it.
Chuck them into home accounts program. Can then produce report based on category and sub-category.
Bit um focussed possibly, but latterly - when producing accounts for self-employment - it's actually been very useful so try to keep at it. Also helps reconcile the bank account and credit card every month - again, a bit detailed maybe but checks there's no extraneous items, and we also do my mum's shopping and stuff like that so again helps to settle the accounts each month..
but yes, if HMRC is 45p/mile then I guess my actual costs aren't too far away.
Have you costed in the time taken to work out the running costs!
My 1.6 petrol C-max has cost me..........
Cost £5k
Current value £2.5k (if i paid chips away to remove all the bike leaning against it scratches, probably nearer 2.5p)
Miles since purcase 40,000 in 3 years
Insurance £350
Tax £195
MOT £30
Average 39mpg
DIY service ~£70 per 10,000
Tyres (averageing 25,000 per set at about £350)
So over 3 years:
Depreciation £2.5k
Fuel £6050
Insurance £1050
Tax £585
MOT £90
Service £280
Tyres £560 (which isn't strictly fair as it had new tyres when I bought it)
=£11115
Or 27.7per mile.
On the one hand I paid well over the book price for it, on the other hand it's not broken down and is a doddle to service.
Cambelt service tomorow, which is probably going to add another 1p/mile to the total.
[edit] add another 1p/mile to cover stuff like the towbar and upgradeing the stereo, although as I intend to run it untill it dies and there's enough fords in the family the stereo will probably come with me and the towbar get passed allong.
I have no idea... I need a car... it needs to carry motorbikes, bicycles and people...
The rest doesn't even come into the discussion.
I think what car do a pence per mile figure for a lot of newer cars
Not as useful for the more mature motors though!
fag packet maths says it costs £2.60 a day just to have it sitting on the drive - where it sits most days - taxed tested and all repairs that have been done to it in my ownership.
based on 5 years of it being there - assuming i scrap it when finished and write off the value as total loss - if i get any thing back for it - it would sell for about 1500 today - so about £1.70 a day if i sold up for 1500 quid today.
based on my milage it works out at 30p a mile once you factor in fuel at 40MPG
i think thats good - so i bought another one exactly the same...hope its as good.
My 30 second fag packet maths bring in mine at 33p a mile, which isn't bad considering my comparatively high insurance costs. I originally baulked when I saw the total over the last 2 years came in at around £12k though!
****ing hell peter you must do a heap of miles ?
mines over 5 years. was 9700 inc fuel/tax/insurance and full purchase price !
but then my car is shit and not a mercedes 😀
for my previous car over the 20000miles/2 years I owned it the cost works out at 97p per mile.
****ing hell peter you must do a heap of miles ?mines over 5 years. was 9700 inc fuel/tax/insurance and full purchase price !
but then my car is shit and not a mercedes
I've managed to clock up about 36,000 in the last two years. About 10k is commuting and most of the other 25k is heading up north at the weekend
I bought fairly wisely...in theory at least...a nice car nearing the bottom of the depreciation line, so will have lost about £1.5k over 35,000 miles. But, a few bills along the way as you'd expect. Mrs pf works for a dealer though so I get parts for trade and labour for cheap.
averages 33mpg though 🙁
New car is coming soon. Worked out that it will come in at around 40-45p per mile, so not much difference! I've had some work done to my car before shifting it on (new pads, discs etc) and to be honest I'm reluctant to let it go. i've only had it two years, but it's my first car and I've bonded with it! 🙂
20p per mile (406hdi yr 2000) made up of:
Depreciation 9000 euros
Service 4200 e
fuel 7200 e (50 mpg)
ins 4000 e
tax 700 e
owned 10 years & done 94k miles
Total cost = 18k gbp so 20p per mile
If I had bought it new at 25ke the running cost would be c double, I see the actual marginal cost of fuel & tyres is about 10 p per mile, the fixed costs you incur whether you drive it or not.
29p for me so far, only had the car 18 months but done 40k in it.
Depreciation, towbar etc- £6000 (which is quite a large over estimate)
Fuel- £4000
Insurance- £1250 for 18 months
Tyres- £200
Tax- £20
Servicing has been free so far as the car was 6 months old when I got it.
With mine unplanned expenses always screw things up, my cars have been economic to tax, fuel, and maintain but not necessarily to fix 😳
last time I checked, it was under 20p/mile but that was when I was doing 32k miles/yr.
Doing about 25k miles/year now so it will have gone up a bit...
Just worked it out over the last year and reckon it's about 23.5p/mile for the last year.
Mini Cooper S Clubman:
Paid £7900 in 2012, sold for £8650 in 2014 - £750 profit
14000 miles @40mpg = £2100 in fuel,
Insurance = £362 for 2 years
Tax = £86
Servicing = £90
Tyres = £0
Spares = £81.30
= 7.11ppm.
Not done the maths but my '03 Audi RS 6 estate costs around 45p per mile just in Fuel.
Cam-belt change service every 4 years is around £2.5k.
Tyres don't seem to last long either and are around £250 each.
Oh well, bike for commuting and fun-car for weekend mtb trips!
Just cleared up all the receipts for our car as we are selling..
05 Touran tdi, owned since 08, 20k per year.
So, we averaged £1465 in maintenance (not including tyres which I did not keep receipts for) a year or 7p per mile. 😯
Fuel cost iiro £16500 for the 6 years, or £2750 or 13p per mile. 😯
Depreciation of £6000, so 3p per mile. 😯
Insurance, average of £200 per year, so a penny a mile.
Tax 180 per year or 0.003p per mile.
Overall costs (not including a fair few bits) of £32490 or 27p per mile 😯
doesn't sound too bad TBH.
I ran a Golf VI for about 4 months. Inc Fuel, a service, depreciation it cost no more than 27pence per mile over 7000 miles. Happy with that.
I'm paying way more than that with two older cars but I wanted to release the value of the car at the time and my mileage has dropped significantly.
Fancy getting a 335i touring next. Won't think too hard about running costs there....!!