How much should I pay for adding mileage?

cas20

I'm going on holiday with a friend and we will be using her car. We'll split the petrol costs 50:50 and I pay for myself to be added to her insurance but i've been thinking that I should give her some money to allow for the fact that we'll be bumping the mileage up on her car and thus affecting the value. My question is what is a fair amount? - i've been Googling a few things but not come up with anything to help me calculate how much to give her. Any ideas???

vaio

the revenue say that 35p per mile is a reasonable cost for running a car, maybe give her half that or say 20p per mile which would cover everything

motorguy

cas20 wrote: »

I'm going on holiday with a friend and we will be using her car. We'll split the petrol costs 50:50 and I pay for myself to be added to her insurance but i've been thinking that I should give her some money to allow for the fact that we'll be bumping the mileage up on her car and thus affecting the value. My question is what is a fair amount? - i've been Googling a few things but not come up with anything to help me calculate how much to give her. Any ideas???

How much overall miles do you intend to do?

Shimrod

It could be quite a variable figure - are you thinking of covering depreciation or just allowing for additiona wear and tear on consumables such as brakes? A newer car will depreciate much faster than an older one, as will (generally) a large car over a smaller one.

How many miles do you think you will be covering? Maybe you could offer a proportion of the next service cost e.g. If the service interval is 10,000miles and the service costs £200. If you do 2,000 miles, that's 20% of the distance to the next service - you could either offer £40 (the full 20%) or £20 - your half of the extra cost.

Shimrod

vaio wrote: »

the revenue say that 35p per mile is a reasonable cost for running a car, maybe give her half that or say 20p per mile which would cover everything

I was going to suggest that, but it could work out very expensive if they are travelling a reasonable distance!

cas20

Thanks everyone, all useful suggestions. I reckon it'll be in the region of 700 to 800 miles in total so doing 20p a mile would be quite a lot! But having said that I don't want to short change her.
I like the idea about a proportional cost of her next service, seems a fair way to do it.

vikingaero

At least you're considerate enough to think about these things cas.

50/50 on fuel and maybe £50 on top for insurance, wear & tear, servicing, depreciation and driving. Or maybe just take her out for a nice meal one evening to say thanks.

KillerWatt

vaio wrote: »

the revenue say that 35p per mile is a reasonable cost for running a car, maybe give her half that or say 20p per mile which would cover everything

At 20p per mile, the vehicle would have to consistently return 27mpg just to break even on the fuel consumption.

As fuel consumption varies from what the manufacturer claims due to things like driving style, type of roads used, etc - whatever car is used is going to have to be supposedly capable of a combined MPG figure around the mid 30's for 20p per mile to be even anywhere near covering the cost.

A much easier solution would be to go halves with the friend "at the pump"....ie, if it costs £80 to fill the car up then both chip in with £40 there & then.

vaio

KillerWatt wrote: »

....A much easier solution would be to go halves with the friend "at the pump"....ie, if it costs £80 to fill the car up then both chip in with £40 there & then.

yep but that doesn't include any of the other costs of running a car which was what the OP was asking

taffy056

The revenue allows 40p a mile, so as its the two of you, so half it to get a ballpark figure, personally I would pay for the extra insurance and just give half the petrol money, and buy the food there and back if its a long journey.

KillerWatt

vaio wrote: »

yep but that doesn't include any of the other costs of running a car which was what the OP was asking

I doubt 800 miles is going to impact the car in the slightest (unless it's a shed), it's just a case of getting the beers in where contributing to "wear & tear" is concerned on such a small journey IMO.