The cost of ownership.

Now that my FFRR has gone I thought I would share what the car has cost me to own in the 30 months I owned it.
I thought it would be interesting for prospective buyers and those thinking of selling. And the curious!

I bought the car from a dealer, a 2005 55 plate vogue SE, on it's 5th birthday, to the day.
I paid £22500. I think I got it for a very good price. That would be the equivalent of an April 2008 car today, age wise.

I sold it 2.5 years later, 30 months to the day, which makes the maths easy!
I got £14500 for it. Which again I believe was good for a private sale.

The day I bought it it clocked 50,000 on the test drive. I sold it with 63,208.
13,208 miles in my ownership.

So.... Figures.

£8000 depreciation on purchase = £266.66 per month or £3200 per year.
That is 60p a mile just on depreciation.

That's not all..
I also paid for the following..

600 servicing x2
250 digital tv
100 side vents
500 tyres
300 discs and pads x4
60 Bluetooth upgrade
110 battery
120 various suspension comps.
100 wheel nuts and locks
100 sundries (probably a lot more)

That adds up to another £2240, so the car actually cost £10,240 over the 30 months.
That is £341.33 per month or £4096 per year or 78p a mile.

There was no point adding in insurance or fuel, as I would have spent that anyway whatever I was driving.

So there we go, that has been my financial experience of ownership. I would also add that it was the best car I have ever owned and I am looking forward to my next one!
I would conclude, and this is obvious i know, that the best way to minimise depreciation is to keep the car for as long as possible and to use it as often as possible.
Yours,
Range roverless for now,
Archie.


Ps. Don't feel sad for me, I am looooooooving my Porsche ! Previously..
Vogue SE TD6
Defender 90 2.4
Defender 110 TD5
Vogue 3.5 EFI

And for bringing us that wonderful piece of info ……GIUY …..

I think anyone who owns a full fat without expecting similar kind of figures is deluding themselves. They are expensive to own and run.

Glad you're now economising buy buying a....er....Porsche.

The only way to reduce those figures is to buy a 2002-2004 model as cheap as you can under £8k and then sell it a year later and keep them under 150k.

I've lost about £1k a year nearly in depreciation so far which isn't too bad really! Next one will be a TDV8 under £15k i reckon  FFRR MY06 facelift With TDV8 Alloys Zeros/ATR's
Mantec Sump Guard, Rigid Load liner, MY10 BT upgrade.

My 2003 V8 HSE (now gone) was bought for £20k (30000 miles) and traded for £10k (83000 miles) after four and a half years having covered about 50000 mies. 20p per mile ish. The only real expenses beyond routine servicing were an LPG kit (paid for easily by the fuel savings and covering a lot of the depreciation), new battery and a new radiator. The front diff was free.

The current car was bought for £30k last year with 26000 miles so we'll see when that goes. It's had a new tail light and a set of new locking wheel nuts so far.

Maybe I've been lucky. 2012 4.4 TDV8 Westminster
2007 3.6 TDV8 Vogue - gone!
2003 V8 HSE (LPG) - gone!
2018 F-Pace 25t Portfolio
1974 LR Series III Lightweight FFR
2014 BMW 640i Gran Coupe

I never intended to sell it so soon, it was bought as a 5 year car. But as it was not being used as it should, my fault really for being a bit OCD with the way my wife used it, then it had to go. The Honda cr-v that she has now is much more suited to her needs, easy to park, nippy, no worries about it being dented, dinged or scratched.
I am not complaining about the depreciation really, I knew the score when I bought it, I have had them before.
That is just the cost of short term ownership...

Something to finish on....
The woman that had it before me lost around £50k on depreciation before I bought it !! Previously..
Vogue SE TD6
Defender 90 2.4
Defender 110 TD5
Vogue 3.5 EFI

Contraband wrote:

The woman that had it before me lost around £50k on depreciation before I bought it !!

IMO anything less than £500 a month is good going for running a car like this.

Your high cost per mile is simply because you never drove it



Cheers

Jerry

^+1 Low Mileage costs big time in depreciation per mile.....

Not on other depreciation based tests though

Thanks for taking the time to write that, very interesting, it does seem the FFRR are more reliable than the RRS from what I have read.

not sure I like this depreciation stuff though, im used to my cars appreciating in value  TVR SAGARIS

It's still a lot cheaper than a mistress, even though you'd get inside the latter more regularly. Si. <This is my name.

I eat rat poison.

A man ain't truly been insulted until he stands buck naked in front of a woman and she didn't even notice. Or care.

kingpleb wrote:

The only way to reduce those figures is to buy a 2002-2004 model as cheap as you can under £8k and then sell it a year later and keep them under 150k.

I've lost about £1k a year nearly in depreciation so far which isn't too bad really! Next one will be a TDV8 under £15k i reckon

They will struggle to depreciate faster than my old TVR Tuscan  2011 Stornaway Grey 5.0SC Autobiography

jonlewis wrote:

They will struggle to depreciate faster than my old TVR Tuscan

you should have bought a Griffith 500 or Sagaris  TVR SAGARIS

SAGARIS wrote:

kingpleb wrote:

The only way to reduce those figures is to buy a 2002-2004 model as cheap as you can under £8k and then sell it a year later and keep them under 150k.

I've lost about £1k a year nearly in depreciation so far which isn't too bad really! Next one will be a TDV8 under £15k i reckon

Was chatting to a dealer the other day and his thoughts were when the higher road tax cars start selling for under £15,000 no one will be buying them, the sort of buyers who only have 10/15k to spend are not going to be willing to pay the high road tax so he can see the arse falling right out the market,

What do members here think?