How much does it cost to own a car?

You've not really explained much about yourself, but I think you've got to be looking at 150-400 for this part.

Say 200 for this

and at least 105 for the car tax

That's so that's 450 to 705 by my reckoning

You've not included any savings from not having to use the alternative forms of transport if there are any.

Jim.

Also missed depreciation, and lost opportunity cost of the money.

For example, say your car costs 5,000. After 5 years lets says its worth nothing (might not be realistic, but that makes the maths easy :-) Add an extra 1,000 / year you have just lost. If you invested that 5,000 at say

5% thats an extra 250/year you are losing, so thats now 1,250 per year you need to add to your 300 per year costs :-)

You also missed out an annual service. (that is not the same as repairs), maybe 100, Tyres,Maybe 50/year?

So you are probably approaching 2,000/year...do your own maths for your cost of the car and depreciation.

Now deduct the cost of the public transport you wont take from that.

Hmm, assuming the OP has no no-claims discount (he's considering buying a car, which means he probably hasn't insured one in his name recently) and also assuming he wants comprehensive insurance (3rd party on a 2 yr old car....nah!!) then insurance is likely to be nearer the 1k mark, I would of thought from looking at quotes recently (depending on his age and location, as you mentioned,) but even a 35 year old without no-claims would be looking at at least twice your estimate, no??

Oh longer ago I used to think of cars as 200quid disposable items less significant than the insurance, I've not escaped that mindset

Hmm, I included that in the repairs/MOT I've certainly never paid that much, of course if you're unlucky...

There's taxis too, and potentially the extra cost of hotels as you're forced to travel on a different day to your meeting as there's no train that'll get you there for 9am.

but I think we all agree his original figures were lowballing it.

Cheers,

Jim.

Guttorm Christensen wrote: > Thinking about buying a car, however I'm trying to work out what it > will actually cost to own one, and whether I can afford to. > > I've identified the following elements; > > - petrol (how much I drive) > - insurance (age, no claims bonus, secure parking, area I live in) > - MOT > - repairs > > I would be looking at a small car (1.1 or similar) that is 2-5 years > old. It will be parked in a secure garage, and I reckon the annual cost > is roughly £300 - £400.

Here's an annual comparison, based on real costs: I drive (much) less than 6000 miles per year (UK average is 10-12k)

Petrol about £350 Insurance (incl. AA/RAC) £250 (5 yrs+ no-claims) Maintenance/MOT etc up to about £200 Road tax about £165

Cost: £965

The road tax could be cheaper for you. You will pay for: breakdown repairs, tyres, exhaust, battery (all included above), and parking. And don't forget speeding tickets etc

expect it to not get any cheaper.

You should get a few online insurance quotes, and look up the road tax for your chosen car. What is your estimated mileage?

3 or 4 years ago at 27, with no no-claims, I was paying 300 on a 200 quid car, that was 3rd party though yeah, so you're probably right, if he cares about cost of onership here he's unlikely willling to risk the 3 or 4k his 2 year old will cost him so yeah you're probably right

Jim.

over 60 miles per gallon, what are you driving?

Jim.

mmmm, I tried to do the maths, but couldn't. It's a 'hot hatch' with fuel-efficient petrol injection. That £ figure is real, and might also include a few cigarettes. I can only think that my mileage is less, but I haven't even looked at my car recently, let alone the odometer. I tell the insurance company 6000 miles to be on the safe side.

you can easily find out an approximate cost for your insurance on-line...

somewhere like

but there are lots of them

If you are living in a big city and don't need to go out of the city for the majority of your time, a car isn't really worth it. But of course that depends what the transport is like where you live.

Andy,

Very wise words. My girlfriend has been doing online car insurance quotes this week for her to have a car here at university. She is 21yrs old with no no-claims. For it to be insured at her house address in the countryside in Lancashire, a little of 1000. Here in Manchester (M14), 3850. An incredible difference, although not surprising given the horrendous crime around here.

A weekly bus pass is 2 with busses running every 30-45 seconds down Oxford Road, reknowned as the busiest bus route in Europe. No car needed really. It'll be interesting to see which mode of transport Queen Liz will bring tomorrow as she opens the new "University of Manchester".....!

Joe

You're joking, right? Surely it's more like £2 a day.

Student pass?

In message , Tumbleweed writes

It's very realistic in my experience

Having owned flash cars for about 10 years, I remember sitting waiting for someone outside a house one day. I got to thinking how much cars had cost me over the years, and it was frightening.

Over a couple of months, I sold my flash car, and bought one for £5,600. I happily told all my friends that I couldnt lose more than £5,600 on this one.

Sure enough, 4 years later, it needed repairs which cost much more than it was worth, so I let it go for £100 , and bought another for £1500.

Cant lose more than £1500 on this one!!

I suppose for someone switching his focus to flash yachts, that's a good move. I hope it's a Diesel. Damp sea air and petrol engines can lead to high blood pressure.

Show off ! My one cost me £1,200

It is good to see that there's now a huge choice of reliable cars for people with up to £3,000 to spend.

Daytona

The AA publish annual costs -

For breakdown cover use AutoAid for £29 (note the end comma in the URL which some newsreaders miss)

To find the cheapest petrol use

Daytona

Youre right... cars are probably the single biggest waste of money you can ever buy!

The more expensive one you get, the more you loose... buy a banger for a few hundred, run it into the ground over a year, then buy another one.. and so on :)

ROFL !!!

"Tom" wrote

What speeding tickets? He shouldn't be speeding!