Some nerdy running cost facts for a VR6

[Bog Standard VR6 0]

Okay, so as I’ve just sold my VR6 after 9 great years of ownership, and being a bit of a numbers nerd, I’ve worked out some average running costs. They relate to one of the last VR6’s – registered April ’96 and as I got her on her third birthday more or less, these numbers relate to the 9 years from 3 years old to just over 12 years old, during which I did almost 83K miles (9k per year) and averaged 27mpg.

 

I didn’t customise anything on her – just regular servicing and replacing anything that broke or wore out.

 

..............Depreciation..Insurance....Tax/MOT.....Petrol.......Serv/Maint.....Total

Total........£10,000........£7,625.......£1,685........£11,112....£5,336...........£35,759

Per year....£1,097..........£836.........£185...........£1,219.....£585.............£3,922

Per mile....£0.12...........£0.09........£0.02..........£0.13.......£0.06............£0.43

%............28%..............21%..........5%.............31%..........15%..............100%

 

(Sorry, I couldn't find an easy way to insert a table)

 

Obviously a lot of these costs varied through the 9 years. Depreciation would have been less each year (although probably dropped more so in the last year given current petrol prices etc. – I sold for £2,500). Insurance strangely started at 700, peaked at 1,200 and ended up at 300 (maybe that’s just me getting old ....). Petrol obviously just doubled from 800p.a. to 1,600p.a. Surprisingly, the service and maintenance costs stayed pretty steady each year (just depending upon one-off mis-haps or failures).

 

Overall, £36K seems an awful lot of money, but then again 4K p.a. for a performance car isn’t bad going.

 

I’ll get my coat ..........

[Leonard 0]

I would say that isn't too bad considering :)

[Bog Standard VR6 0]

Yeh, I was pretty happy overall. I think I was lucky to have nothing major go wrong and push up the maintenance costs.

 

At 12 years old it was still on its original clutch and exhaust, with no sign/sound of the chain tensioners needing attention. Maybe I was just lucky (or drove it too gently .....)

[vornwend 0]

I thinks thats pretty darn good.

 

Be interesting to see what the costs would have been in the next 9 years. Petrol would be higher (you only paid 80p/litre average) and servicing/maintenance costs would probably have gone up but insurance and depreciation would be way, way lower.

 

If the VED rises go ahead as planned then we are going to gain in comparison with others.

 

Being a bit of a nerd with numbers myself :eek: I calculate that your depreciation averaged 16.4% each successive year which if extrapolated would mean it being worth £500 after 18 years - so a massive £8,000 less depreciation in years to 10 to 18.

 

To show the true cost of ownership however you should also add in the cost of the capital used to purchase the car in the first place - eg £12,500 could have earned you £x of interest (compounded) each year (assuming you had the cash in hand and didn't have to borrow it). Eg - £12500 @ 4% interest would have earned you £5300 of interest over the 9 years.

[Bog Standard VR6 0]

I agree, if you were to look for the full cost of ownership, you should include the cost of capital - but you should probably apply that to all the outgoings i.e. the full £36K outlay over 9 years i.e. about £15K interest could have been earned if it had been invested rather than spent on buying insuring, feeding the car.

 

This becomes really expensive when you think about buying a new car (which I have just done - a new MkII TT). Quite apart from the depreciation on a new car - when you add in the cost of capital (e.g. investing £25K rather than buying a depreciating car) - it would put you off ever buying a new car!

 

The big advantage of running a "classic" car like a Corrado is the minimal depreciation and capital tied up in it. I almost regret selling it now .......

[vornwend 0]

Owning a Corrado is cheap as chips really :wink: Funny how it feels just the opposite :roll:

[Kevin Bacon 5]

Working out what you've already spent on a car is a pointless, futile effort. It's far better to map out what you're going to spend on the car instead :D

 

And besides, running costs of a car pale into insignificance next to house and family maintenance and running costs.

 

Not that I have a family, but I nearly fainted when I saw how much a tin of Dulux emulsion was the other day..... and 10 feet of guttering.

[Walesy 0]

Try having a baby then, mine isn't even born yet and he's already cost me more than driving Corrados for 5 years did :lol:

[Leonard 0]

Not that I have a family, but I nearly fainted when I saw how much a tin of Dulux emulsion was the other day..... and 10 feet of guttering.

 

LOL

[yorkshireone 0]

They certainly don't make guttering like they used to!! :)

[Wendy 0]

To include fuel in that equation makes it very cheap motoring.

 

My servicing costs for sure are more than £585 per annum and my car is a good one.

 

Interestingly, the rate per mile on your example was 43p.

Not good for those of us that are only able to claim 40p per mile travel expenses.

Hence under pressure the Government is looking into this as it has remained unchanged for years and years.

[Bog Standard VR6 0]

Yes, just imagine dropping 50p in a box for every mile as you drive along .......

 

On the other hand, imagine your favourite mile of twisty road and 60 seconds (or less ;) ) of that lovely VR6 soundtrack - all for just 50p - a bargain!!!

[JumboJimboG60 0]

so how much does it cost to fill up the tank? the only reason i ask is because im pickin one up in 2 weeks and i know how they love to drink the petrol lol

[Donjon 0]

To brim the tank from near empty it costs me about £85 at £1.30 a litre! Just keep it topped up to half way to avoid that kick in the nuts!

[corozin 0]

Of course there is another story to be told. Check the running costs & blog on my sig. And weep.

[Bullfinch 0]

Of course there is another story to be told. Check the running costs & blog on my sig. And weep.

£35k - are you serious?

[vornwend 0]

Of course there is another story to be told. Check the running costs & blog on my sig. And weep.

 

But to put that in perspective John you'd need to seperate the track day costs - probably doubles or trebles most categories of spend? Driving these cars still offers good value for money if you ask me especially if you play in how much more you'd be paying in depreciation for a more modern car. Anyway its not all about money is it;-)

[KipVR 1]

Seems very cheap to me, especially when you think a new performace car can easily cost £30k, with servicing costs over 1k each year...

[dukest 0]

I think including petrol, insurance and tax/mot is misleading in these analyses as they apply more or less to any comparable car. What people are generally trying to illustrate with these things in my view is whether it was a good choice of car financially in terms of what it cost to maintain and what its worth at the end of your ownership. That gives £15.5k or £1.7k/yr which as said is easily comparable to anything else in the £30k+ bracket these days, if not probably better.