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Ten years on

del320

del320

MB Enthusiast
SUPPORTER
Joined
Mar 4, 2005
Messages
2,567
Location
Near Melrose, Scottish Borders
Car
1996 E320 Coupe
Well, after exactly ten years of ownership, I thought I'd do some sums - for anyone who's interested...:rolleyes:

I've now covered 50028 gentle miles - the first owner covered 65618 miles during his five years of ownership.

Tax, Insurance and (discretionary) AA subs - £4529 (25.3%)
Petrol at ever increasing cost - - - - - - - - -£7468 (41.7%) That's 26.9 mpg.
Servicing, maintenance, labour and parts -- -£5910 (33.0%) Exceptional costs have been c£500 for water pump and £160 for wayward immobilisor.

All of which comes to a hideous - - - - - - - £17907 (Just under 36p per mile)

What is not included is depreciation - c£45k new, I paid c£14k. :dk:
And, of course, the entirely discretionary - - -£3695 on the refurbishment two years ago.

All in I'd guesstimate a total of around £30k - about 60p per mile. :eek:

Considering I do no spannering, that's probably "cheap" motoring. :doh:
 
60p per mile is cheaper than any taxi
 
Did you have to search your anorak pockets for the receipts?



:D
 
Mine over the last 115 thousand miles.

Service........ 7220.3............... £0.062............. 14.8%
Insurance.......4546.46....... .....£0.039......... .... 9.3%
Depn............20500......... .......£0.177............... 42.1%
Misc........... 2159................... £0.019.............. 4.4%
Fuel Total......£14,317.40......... £0.124... ........ 29.4%
Total............£48,743.16......... £0.421............ 100.0%
 
My SL to 31 March 2011 had cost me £1.408/mile being over 7.54yrs. and 63950 miles from new.......massive depreciation.
my BMW735 to March had cost me £0.678/mile being over 19.67yrs. and 217461 miles........bought used when 3yrs. old and hence minimal depreciation of only £14k
My Volvo760GLE to March had cost me £0.595/mile being over 17.19yrs. and 137872 miles........bought used when 6yrs. old and hence almost negligible depreciation of £5k.

Clearly £0.60/mile is achievable if depreciation can be kept to an absolute minimum.........but I still have no regrets buying the SL

Mic
 
One lesson here is that if you are an employee, use your car for work and claim 40p a mile you are generally going to be out of pocket.

About time HMRC upped the 40p/mile amount perhaps?
 
They have, it's 45ppm. I doubt this will swing your view though ;)
 
At 5000 miles pa, the OP was doing less than average. I suspect with higher mileage the cost per mile would have been less.
 
renault12ts said:
At 5000 miles pa, the OP was doing less than average. I suspect with higher mileage the cost per mile would have been less.
Click to expand...
Not on the figures given as they don't include depreciation, but if you factor in Depn at £12k and the restoration cost you get a cost per mile of £0.67 per mile.
Looking at my own figures made me think about fuel cost. in another 30,000 miles it will have passed the depreciation cost and be over 50% of total costs.

That makes me think that running a more economical car is important to me, possibly not to others.
 
clk208 said:
One lesson here is that if you are an employee, use your car for work and claim 40p a mile you are generally going to be out of pocket.
Click to expand...

If you chose to drive a Mercedes or other large car. Many cars have a cost below 45ppm.
Also the sums are more complicated due to factoring in company car tax and any other costings.
 
clk208 said:
One lesson here is that if you are an employee, use your car for work and claim 40p a mile you are generally going to be out of pocket.

About time HMRC upped the 40p/mile amount perhaps?
Click to expand...

That is absolutely correct......my wife has been subsidising the Oxfordshire County Council for years. The only way to get close to 40ppm would be to buy an old car to minimise depreciation and then keep it running for very high annual mileages to minimise the fixed costs per mile......not a realistic model for most people.

Mic
 
In 2004 when I was doing 30k per year my running costs (fuel, service, depreciation) were 18ppm in my new Audi A2. The car may not be everyone's choice, but cheap motoring can be done.
 
I've just checked the figures for new C and E class 250 Cdi 125 edition, Auto.

At 48 months and 80,000 miles the cost is 43.12ppm and 44.82ppm respectively, so even a new Mercedes can fit this criteria as long as you chose an economical car.

A B180 Cdi CVT comes in at 36.8ppm
 
This 45ppm bit.

I claim this but also get a monthly allowance from my employer, is that not the norm?
 
lewyboy said:
This 45ppm bit.

I claim this but also get a monthly allowance from my employer, is that not the norm?
Click to expand...

You can claim as much as your employer will let you, but HMRC set a tax free allowance of 45ppm for 10,000 miles, 25ppm thereafter.

If your employer is paying a monthly allowance and 45ppm then they are either:
A: very generous
B: stupid.
 
Employer pays 28ppm and receive the difference via reduced tax deductions on my income.

The allowance is taxable.

It's a horribly complicated system and I could not understand it for a while but have done the calcs and the above looks about right.

Reckon I still lose out on depreciation though, £9k in 2 years on my S class.
 
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