Comments on: Understanding The Cost of Car Ownership http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership Your guide to getting yourself out of debt and out of the rat race Tue, 07 Sep 2010 08:19:01 +0000 http://wordpress.org/?v=2.5.1 By: cornish dragon http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-979 cornish dragon Tue, 29 Jul 2008 17:42:38 +0000 http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-979 What is this about cars being worth less than you bought them for ?....... Surely this can't be right ? No one would bother to buy them ! What is this about road fund tax ? Who pays that ? CU CD What is this about cars being worth less
than you bought them for ?…….
Surely this can’t be right ?
No one would bother to buy them !
What is this about road fund tax ?
Who pays that ?

CU
CD

]]> By: Jon http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-558 Jon Thu, 12 Jun 2008 18:56:02 +0000 http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-558 Also, if you bought your car with a loan, you should factor in the interest on that loan Also, if you bought your car with a loan, you should factor in the interest on that loan

]]> By: Tristan http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-520 Tristan Mon, 02 Jun 2008 13:30:38 +0000 http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-520 I filled up my car with regular unleaded petrol yesterday... It cost £55.60!!! ...and it's only a 1.6 Ford Focus! I regularly get 350 miles from a full tank, so on that basis it costs me an average of 14p to drive 1 mile - makes you think :-( I filled up my car with regular unleaded petrol yesterday…

It cost £55.60!!!

…and it’s only a 1.6 Ford Focus!

I regularly get 350 miles from a full tank, so on that basis it costs me an average of 14p to drive 1 mile - makes you think :-(

]]> By: John http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-513 John Fri, 30 May 2008 22:41:37 +0000 http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-513 The trouble is as the (China and India) buy more cars they need more oil and the price of oil will rise even further, even faster. The trouble is as the (China and India) buy more cars they need more oil and the price of oil will rise even further, even faster.

]]> By: Curt http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-512 Curt Fri, 30 May 2008 19:02:04 +0000 http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-512 Interesting discussion. I agree, cars are just as expensive (or more) to run as they are to buy. Car companies are reducing production because nobody is buying. They are going to have a give the cars away, just to make them affordable - but the increase in commondity prices is likely to increase car prices, which will cause many families to reduce their car purchases. On the other side of the world, were the currencies are increasing against the dollar, like China and India. They are going to be buying more cars. Interesting discussion. I agree, cars are just as expensive (or more) to run as they are to buy. Car companies are reducing production because nobody is buying. They are going to have a give the cars away, just to make them affordable - but the increase in commondity prices is likely to increase car prices, which will cause many families to reduce their car purchases.

On the other side of the world, were the currencies are increasing against the dollar, like China and India. They are going to be buying more cars.

]]> By: John http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-507 John Fri, 30 May 2008 12:41:10 +0000 http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-507 Good point, then again in Wiltshire most of our local car parts (small towns) are either FREE or very cheap. I've got to go as far as Bath to pay that much. Good point, then again in Wiltshire most of our local car parts (small towns) are either FREE or very cheap.

I’ve got to go as far as Bath to pay that much.

]]> By: Mark http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-506 Mark Fri, 30 May 2008 12:37:49 +0000 http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-506 John, Thanks for making out those points. There is another one we both missed: the cost of parking! With major cities now charging for on street parking - I think 2 hours cost me about 5 GBP last time I parked in the centre of Birmingham - I think this cost definitely need factoring in. - Mark. John,

Thanks for making out those points. There is another one we both missed: the cost of parking! With major cities now charging for on street parking - I think 2 hours cost me about 5 GBP last time I parked in the centre of Birmingham - I think this cost definitely need factoring in.

- Mark.

]]> By: Mark http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-505 Mark Fri, 30 May 2008 12:20:34 +0000 http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-505 Rob, Thanks for your comment. When you've worked out your numbers do you want to keep them private, or would you mind posting them either here or on MoneyWatch? Regards, Mark. Rob,

Thanks for your comment. When you’ve worked out your numbers do you want to keep them private, or would you mind posting them either here or on MoneyWatch?

Regards,
Mark.

]]> By: John http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-504 John Fri, 30 May 2008 09:32:51 +0000 http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-504 Mark, I think there's two points you've missed: 1) There's the opportunity cost of the initial investment in the car, i.e. the £6,000 invested in the car could have earned £955 at 3% and £1,657 at 5% interest over the 5 years - or been invested in the stock market or even used to start a business. 2) The car will have some residual value i.e. what you can sell it for, or it may cost you to dispose of it. It would also be interesting to see that as a cost per mile which would then be comparable with public transport. Mark,

I think there’s two points you’ve missed:

1) There’s the opportunity cost of the initial investment in the car, i.e. the £6,000 invested in the car could have earned £955 at 3% and £1,657 at 5% interest over the 5 years - or been invested in the stock market or even used to start a business.

2) The car will have some residual value i.e. what you can sell it for, or it may cost you to dispose of it.

It would also be interesting to see that as a cost per mile which would then be comparable with public transport.

]]> By: Rob Lewis http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-503 Rob Lewis Fri, 30 May 2008 09:31:56 +0000 http://www.findfinancialfreedom.com/20/understanding-the-cost-of-car-ownership#comment-503 It's definitely an interesting topic and something I've been meaning to do for a while. I'm currently trying to work out how much each trip to work etc costs in order to motivate me to walk more - just started to record my MPG so that I can work it out. I think I'll do some sums tonight and see how much my car is costing me too. It’s definitely an interesting topic and something I’ve been meaning to do for a while. I’m currently trying to work out how much each trip to work etc costs in order to motivate me to walk more - just started to record my MPG so that I can work it out.

I think I’ll do some sums tonight and see how much my car is costing me too.

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