Cost of running a car?

missile

Take care, your insurance will exclude driving for hire or reward.

caprikid1

AdrianC wrote: »

Depreciation has two elements - time and mileage.

A three-year old 30k mile car will have lost a LOT more value than a one-year-old 30k identical car, but a bit less than a three-year-old 50k car.

If you're going to be accurate about calculating the marginal depreciation cost of the extra mileage, it's the difference between 3yo-30k and 3yo-50k that you need to figure, not the difference between new and 3yo-30k.

I fully appreciate that but just pointing out it's often the largest cost and ignored.

AdrianC

caprikid1 wrote: »

I fully appreciate that but just pointing out it's often the largest cost and ignored.

Sure, but the per-mile element of the depreciation is a relatively small component of that depreciation.

Especially if we're talking about a journey the OP would be doing anyway...

onomatopoeia99

missile wrote: »

Take care, your insurance will exclude driving for hire or reward.

But usually car sharing is not excluded.

I would just ask for a contribution to fuel costs in the scenario outlined.

Edwood_Woodwood

missile wrote: »

Take care, your insurance will exclude driving for hire or reward.

Running costs are not hire and reward, driving for a profit is.

takman

boliston wrote: »

i'd say 45p per mile average cost so would split the cost at about 22p per mile each if lift sharing

45p per mile is a crazy amount if your not taking into account of depreciation!.

My last car which I owned for 72,900 miles of driving cost me 14p per mile over the life of the car not including fixed costs such as Insurance and Tax. If I include the depreciation in that figure it goes up to 16p per mile. That includes every cost repair, service or modification I did to the car.

To the OP I would recommend the App FuelLog it allows you to record your MPG and all money spent on the vehicle and gives you average values and changes over time.

Andy_L

The AA have some numbers here (links to petrol/diesel under related info on the RHS):
http://www.theaa.com/motoring_advice/running_costs/advice_rcosts_guide.html

dannyrst

Incredible.

Just ask for a fair amount to cover your fuel or don't give them a lift.