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How to save money on diesel?
Comments
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Of course its a cost. Quite possibly the biggest motoring cost most of us face.
If the O/P buys the car for £15K and scraps it 10 years later with 300,000 miles then he's suffered £15,000 in depreciation.
My point was - ensure you run it as long as you possibly can. Changing a car even every 5 years and doing those miles will cost a lot of money.So you run it until it fails, then manage to get as much as you paid for it?
Didn't think so.
You still have depreciation, just the car depreciates 100% of its value rather than you being able to get some money back for it.
LOL
What utter rot.
I buy a car, I run it until it fails and then I replace it. I have had 10+ years use out of it so have not suffered any depreciation because there is no intention to sell it or retain value. That's the whole point - the car is used!
If I buy something and never use it and hope to sell it in the future at a profit and I can't, THAT is depreciation.
If I buy something and use it for the intended purpose and get full use for the expected life of the product then I have got the value for it and not suffered any depreciation because I am not selling it!
This is what the "depreciation is your biggest cost" crowd fail to understand - depreciation is ONLY an issue if you have a desire to sell or trade in the car after a fixed period where obviously it won't be worth anything like what you paid for it. For anyone who buys a car without any intention to sell it on and wants to run it until it's BER then depreciation is irrelevant and is not a cost because you have got the use out of it! It's not really difficult to understand.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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This is what the "depreciation is your biggest cost" crowd fail to understand - depreciation is ONLY an issue if you have a desire to sell or trade in the car after a fixed period where obviously it won't be worth anything like what you paid for it. For anyone who buys a car without any intention to sell it on and wants to run it until it's BER then depreciation is irrelevant and is not a cost because you have got the use out of it! It's not really difficult to understand.
Afraid its under the old statements :
"as soon as you drive it out of the showroom is worth 10-15% less".....yes but who buys a brand new car out of a main dealer and straight to a we buy any car place and sells it?
"renting is dead money".....probably only 70-80% dead money
" I will rent out my house and let someone else pay the mortgage".....not if you are on a BTL or interest only mortgage, and dont forget about paying the HMRC.
All of which are made by people who do not understand what they are saying.0 -
Nasqueron, I don't think the point was that depreciation isn't an expected by-product of owning a car a long time, and getting value for your outlay, but that the reduction of the value of the vehicle is a hidden cost in working out the overall 'cost of motoring'. If you buy a car for £5k and run it for 10 years then scrap it, it has cost you £500 a year on average, which may well be what you are willing to pay, but it's still a cost. Every mile you drive in that car will have a proportion of the outlay within it. I get paid mileage at work, and the rate is derived from all motoring costs including depreciation, which is good for me as my car is worthless, so I'm making money on it now.
OP, other than the suggestions made, I'd definitely look at Nectar card or Tescoclub card. I often get vouchers from both which give money off fuel if I spend money in their shops, plus the points you collect can be used to pay for fuel. As I spend money there anyway, it's not an additional cost. Usually 5p to 10p off a litre, which in my car saves me about £2-£4 on a tank of fuel. If you can work flexible hours at work, definitely worth setting off early in the morning and finishing earlier in the afternoon to beat the traffic. I usually set off at 6:30 am and get to work by 7am. If I set off at 7am it takes me an extra 15 minutes due to traffic.0 -
I buy a car, I run it until it fails and then I replace it. I have had 10+ years use out of it so have not suffered any depreciation because there is no intention to sell it or retain value. That's the whole point - the car is used!
You buy it, for how much?
It fails and you replace it - how much is it worth? £0? £100?
It HAS depreciated, no matter what you actually intend to do with it. I think we all get your point about running a car into the ground, and not having to worry about depreciation, but that's because you're writing the purchase price off immediately. Your car is still worth less at the end, than at the start, therefore it has depreciated.0 -
To be fair it's 50 miles each way. The couple of "eco-boxes" I've driven were not so bad as to make a 50 mile trip all that draining.I think hes currently getting 55mpg+ in the car he has. Changing his car to save money would cost him more money. Driving some tiny manual eco box over big distances could be a false economy in terms of being quite draining.
But realistically, what I gave are the choices. You can either make yourself nearer to your work. Or you can get the cheapest car to run that you can find. As you rightly say, changing cars will cost, but that's going to come anyway at some stage. Long term having an electric car for example could represent a bigger saving than the initial cost.
Driving more economically could make a bit of difference, but with a car that's already doing 55mpg I wonder how far you could stretch it and how much of a PITA it would be to do long term.0 -
Find a job closer to home. I know I would soon get fed up of a 100 mile commute every day.0
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That was my first thought. I've known quite a few people over the years who did that sort of distance as a commute.Deleted_User wrote: »Find a job closer to home. I know I would soon get fed up of a 100 mile commute every day.
None of them liked doing it, apart from anything else it adds considerable time to the working day.0 -
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That's going to cost even more than a newer car. Though at ~55mpg at the moment, I'm not sure what they'd get to beat the economy by enough to justify the saving.
Going for an electric with at least 50 miles range (if you can charge at work) or 100 miles range (charge at home) and that could save a huge amount of fuel costs.
The Hyundai Kona would be ideal - 250ish mile range on electric, and will bring your fuel costs down by about 75% (so you'd be paying about £750/year, and could put the £2250 into payments on the car).
RE: House, yup. When in a similar position i just did the miles rather than move.
Yes, changing to a hybrid would certainly help, but then you've to offset the loss on his current car, and the depreciation on the new one.0 -
LOL
What utter rot.
I buy a car, I run it until it fails and then I replace it. I have had 10+ years use out of it so have not suffered any depreciation because there is no intention to sell it or retain value. That's the whole point - the car is used!
If I buy something and never use it and hope to sell it in the future at a profit and I can't, THAT is depreciation.
If I buy something and use it for the intended purpose and get full use for the expected life of the product then I have got the value for it and not suffered any depreciation because I am not selling it!
This is what the "depreciation is your biggest cost" crowd fail to understand - depreciation is ONLY an issue if you have a desire to sell or trade in the car after a fixed period where obviously it won't be worth anything like what you paid for it. For anyone who buys a car without any intention to sell it on and wants to run it until it's BER then depreciation is irrelevant and is not a cost because you have got the use out of it! It's not really difficult to understand.
:rotfl:
At some point the car will give up, and at that point you'll sell it and at that point you will physically accrue depreciation.
And, by the way, just because you havent sold it doesnt mean its not depreciating.
Buying a new car for £20K and driving it 20 years only suffers zero depreciation if you sell it again for £20K.0 -
This is what the "depreciation is your biggest cost" crowd fail to understand - depreciation is ONLY an issue if you have a desire to sell or trade in the car after a fixed period where obviously it won't be worth anything like what you paid for it. For anyone who buys a car without any intention to sell it on and wants to run it until it's BER then depreciation is irrelevant and is not a cost because you have got the use out of it! It's not really difficult to understand.
Yay!
There we go - at some point the car will cease to operate as a car and you will "desire" to replace it. Try getting your purchase price back at that point. :cool:
You're right, its not difficult to understand, but clearly you dont understand it.0
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