Last Years Cost

[br0ke]

I keep a track of my motoring costs from April to April - mainly to facilitate my OCD. Anyway, here they are

Miles Travelled 13468
Total Fuel Cost £2236.25
Litres (Gal) Used 1794.36 (395.22)
Actual MPG 34.08
Computer MPG 40.30 (It lies, and got even worse when I started using only BP)
Total Cost of parts / servicing / insurance / tax etc £1863.25

Which gives the following totals
Pence per mile 30p
With 15% year on year depreciation 45p
With 15% finance on the depreciation 50p

But best of all
451 hours and 10 minutes of wafting around
(and no speeding tickets this year)

all the details are in an excel spreadsheet so if there are rounding errors, blame Bill

 

[DuFFmAn]

30p a mile is alot...

I got 16.6p per mile from your calculation

 

[DuFFmAn]

ooo... never mind... didn't realise you were including insurance etc.

 

[Dieselman]

^^ That's not too bad at all really at 50p/mile all in, though is 15% depreciation enough?

Mine is 43.8p/mile over many years, but I have depreciated the car to zero.

My percentage costs are

Depn = 43.1%
Fuel = 27.9%
Service = 14.9%
Insurance = 9.6%
Others = 4.5%

Now, if I could reduce the fuel and service to 1/5th, I'd be happy..with £16k extra in my pocket.

 

[DITTRICH]

insurance £350
road tax £205
servicing £1,500
fuel 10,000 miles 1,500 litres £1,875
Total £3,930 or 40p per mile
Very rough figures for the c230k saloon owned for 10 years.

 

[biturbo]

Miles Travelled 15k
Total Fuel Cost £Dont want to know
Litres (Gal) Used Dont want to know
Actual MPG 19mpg
Total Cost of parts / servicing / insurance / tax etc £9k

Prob about 14k over 15k miles.
about £1 a mile.

 

[del320]

View attachment 22890

Pick a figure - 36p, 45p, 54p, 62p per mile over ten years.

Whatever way you cut it, comes to over £20k hard cash.

 

[finisterre]

this thread is inspiring me

I might check out my receipts.

 

[Shude]

I've only owned my car 4 months and the cost so far is 61p/mile, but that includes a brand new set of winter tyres a B service and a replacement windscreen so I'm expecting it to slide down a little over time.

 

[Smiley]

View attachment 22890

Pick a figure - 36p, 45p, 54p, 62p per mile over ten years.

Whatever way you cut it, comes to over £20k hard cash.

Del, you have included £8k depreciation PLUS all of the refurb costs. What value does this imply that the car has now? If the depreciation figure is what you paid for the car then surely you need to add back the current value to get the cost per mile of the 45k miles to date?
it is not as bad as you think

 

[del320]

Del, you have included £8k depreciation PLUS all of the refurb costs. What value does this imply that the car has now? If the depreciation figure is what you paid for the car then surely you need to add back the current value to get the cost per mile of the 45k miles to date?
it is not as bad as you think

I know what you mean, but I take a rather more pragmatic view. I undertook the refurb fully aware that there would be limited added value.

 

[Dieselman]

View attachment 22890

Pick a figure - 36p, 45p, 54p, 62p per mile over ten years.

Whatever way you cut it, comes to over £20k hard cash.

Don't you mean £28,600 cash.

Your figures seem quite high, partially due to the fuel consumption. My bus has munched it's way through £47.5k in total so far.

Keep on truckin'..

I know what you mean, but I take a rather more pragmatic view. I undertook the refurb fully aware that there would be limited added value.

Likewise, I depreciate the car to zero as quickly as I reasonably can.

 

[Dieselman]

I've only owned my car 4 months and the cost so far is 61p/mile, but that includes a brand new set of winter tyres a B service and a replacement windscreen so I'm expecting it to slide down a little over time.

Does your figure include depreciation, which is always the greatest item unless a very old, classic car?

 

[del320]

Don't you mean £28,600 cash.

Keep on truckin'...

Depreciation is notional and will only come out of my pocket if I sell.

 

[Dieselman]

Depreciation is notional and will only come out of my pocket if I sell.

It's a reality none the less. I don't see how you can ignore the single largest cost.
I would love my car to have cost me 25p per mile, but it hasn't.

 

[br0ke]

I bought the car in Sep'08 for £17500 and have depreciated it every April by 15%, so by my reckoning the car is worth about £9k now - given that I have just depreciated it again and put 32k miles on it.
Whether that is what I would get for it is academic and the 15% is a figure that someone else on another thread used a few years ago and seemed reasonable to me.

I paid cash for the car, want to keep it until it is worth about £500 and don't have any finance on it but I still do the figures in comparison to what a company car would be.

Still, and all, the best point is 451hrs driving, which is nearly 19 full days - and I mostly get paid twice for doing this. Once with my salary and then again at 40p (now 45p) for the 1st 10k miles.

Result...

 

[Dieselman]

Do you actually get 45p or are you using the tax free allowance as your benchmark figure?

I do exactly the same as you, the only difference is I spent a bit more up front, but also have run the car until it has little value.

Initially I put £3,000 p.a. for depreciation. It wasn't enough the first couple of years, but other costs meant that's all there was left.
Once the car got down to about £9k value I wrote the value off completely.

 

[Smiley]

I know what you mean, but I take a rather more pragmatic view. I undertook the refurb fully aware that there would be limited added value.

But what about the £8k as well - is that depreciating the car to zero value now? Surely it is worth £8 - 10k now ish?

 

[Shude]

Does your figure include depreciation, which is always the greatest item unless a very old, classic car?

Yes I assumed my car has depreciated £500 in 4 months.

 

[del320]

But what about the £8k as well - is that depreciating the car to zero value now? Surely it is worth £8 - 10k now ish?

Sold to that man!

Guesstimating depreciation on a S/H car which has been part of trade-in processes going back years has to be an inaccurate science, unlike a new car purchase whose future value can be reasonably predicted.

Ten years ago, the coupe was advertised at £15k at which point she was five years old, one owner, with 60k on the clock. I parted with £9k and my '89 300CE-24 - and reckon I got the best trade-in deal ever.

Whether she could fetch £7k now is very much a moot point, but the fact that it had supposedly dropped from c£45k to £15k in five years sure illustrates the true cost of depreciation - straight line of around 20% pa. Keep that trajectory up and she'd be now be worth around £1600.