Annual running costs

Newcarneeded

I've been thinking of changing the car so I was looking at how much i'd make in a private sale and how much i'd need to trade in. I reckon i've lost about €3k in the year i've had my car.

It's a 02 1.8 petrol Accord. I drove 10,000 miles in the year i've owned it.

Then I looked at how much owning the car cost me in the year and I reckon the total costs for the mileage are:

Depreciation: circa €3k.
Tax: €511.
Insurance €1,000
Servicing: €200
1 new Tyre: €100
NCT €50.
Fuel: €1,600 (calculated as 32mpg for 10k miles at €1.20 a mile)

For a total cost of €6,461 or 65cent per mile.

What does your motor cost you?

I suppose higher mileage drivers will have a lower cost per mile as I wouldn't expect depreciation to double if you did 20k as oppose to 10k. I'd say 10-12k is a fairly average mileage though.

unkel

Similar total costs for a '96 BMW 735i V8 petrol:

Tax: 1350
Insurance: 700
Petrol: 1600 (calculated as 21MPG over 7k miles)
Depreciation: 1500 (over the last 4 years, but in reality it doesn't really depreciate more than a few hundred a year now)
Tyres: 300
Maintenance: 500

Total: 5950

kluivert

I like this trend

99 Opel Astra with 114k miles.

Tax: 393
Insurance: 460
Petrol: 2080 (Average 17.5k miles a year)
Depreciation: 200
Tyres: 150
Maintenance: 700 (timing belt done)

Total 3983

I actually didnt think it was that much.

I wonder would I bet better off with a diesel. No loan repayments in the above. No finance on the car.

TheBazman

06 520d with 35k miles

Tax: 540 ish
Insurance: 450
Petrol: 3100 (Average 25k miles a year at approx 40mpg)
Depreciation: 10,000 (at a guess)
Tyres: 700 (bloody runflats)
Servicing: 500

Total 15290

Dermo123

TheBazman wrote: »

06 520d with 35k miles

Tax: 540 ish
Insurance: 450
Petrol: 3100 (Average 25k miles a year at approx 40mpg)
Depreciation: 10,000 (at a guess)
Tyres: 700 (bloody runflats)
Servicing: 500

Total 15290

What about bloody depreciation:eek:??
Tyres expensive and all as they are, are the least of worries here

peasant

The last car, Suzuki Jimny (over four years)

annual depreciation: 750 €
fuel for 10000 km : ~ 1000 €
tax: 279 €
insurance 340 €
average repair/maintenance: 350 €
1/4 set of tyres 80 €

Total 2170 € p.a. or 22 cent per kilometer


Still a lot of money for someting I thought was "cheap to run"

TheBazman

Dermo123 wrote: »

What about bloody depreciation:eek:??
Tyres expensive and all as they are, are the least of worries here

I know, what a bummer. It's definitely a better option to buy a motor thats a couple of years old and get the heaviest of the depreciation out of the way

cantdecide

Dermo123 wrote: »

What about bloody depreciation:eek:??
Tyres expensive and all as they are, are the least of worries here

It's all just shuffling deckchairs on the titanic IMO

I keep hearing from people who are worried about things like fuel consumption between a 1.3 and a 1.6, which adds up to only one small facet of motoring.

In my obsevation, budget and usage are the MOST important factors when choosing a car, not worrying about saving petrol consumption when you've paid a 20% premium up front for a diesel. (things will soon change, i know)

I generally find running costs are much the same. For example, the most conservative small car could cost €2000- €2500ish+ depreciation and an equivalent 'guzzler' at the same purchase price could cost €3000ish annually+ depreciation. If you can't afford the additional cost over a whole year, in order to get a superior car it's probably fair to say the celtic tiger has probably passed you by.

In other words, the subject of running a car cheaply is full of withcraft and wizardry and is usually based on old cliches and outmoded ideas.

You are always one unexpected repair away from having your smart little runabout turn into a white elephant.

unkel

cantdecide wrote: »

I keep hearing from people who are worried about things like fuel consumption between a 1.3 and a 1.6, which adds up to only one small facet of motoring

Indeed. Let this thread encourage people to do their sums. I'd wager some will be shocked to find that their brand new low end car has a higher total cost of ownership than a top of the range second hand car

Victor

Don't forget parking and tolls.

Also see: http://www.aaireland.ie/infodesk/cost_of_motoring.asp

Sandwich

As well as the depreciation you need to factor in the cost of the money tied up in your car for that year - less if you have funded it from reserves - more if you have had to borrow :
eg. a 25k car that has depreciated to 20k has also cost you approx 4% of 25k = E960, or E1500 if you have borrowed it. Depending on the interest rate, terms etc of your banking arrangements.
While the depreciaition 'loss' of some more expensive cars can seem advantageous compared with cheaper alternatives you need to look at the sum of the two for a better comparison : depreciation+capital funding cost.

patrickc

i drive a 01 volvo s40 1.9td


annual depreciation: 2000
fuel on 30000 miles average 3300
tax: 511 soon to be 10% more
insurance 1150
average repair/maintenance: 700
4/4 tyres 400

total 8061:mad: