The True Cost of Using Your Car including Fuel Tax
Have you ever wondered how much it really costs to run your car? Well, look below and discover the hidden costs that those in power would rather you were not aware of.
Let us for example take a family car, a male 35 year old driving for 10 years with a clean record, one Ford Focus 1.6L, bought new for £13,000 using a loan of £10,000 over three years and doing an average of 12,000 miles per year. Based on a salary of £25,000 per annum. You may end up paying 86% tax.
Of course these figures will increase if you are younger, drive a more powerfull car or you have points on your licence, or live in a higher insurance area.
If you would like to work out your own car costs using the calculator developed to provide the above information, click 'Car Calculator'.
It also works out the true cost of commuting by rail and bus to your place of work and flying costs. It is best if you download the spreadsheet to calculate your own costs. You will need either Microsoft Excel or the free Open Office in order to open the spreadsheet. Click on this link to download Open Office.
| VAT | Car Tax |
|
| Total Tax | ||||
| 20.00% | 14.82% | 8.48% | ||||||
| Cost of new car | 13,000.00 | 2199.1667 | 1703.0996 | 1031.8263 | 4934.09 | ||||
| Amount of car loan | 10,000.00 | ||||||||
| Interest rate on loan | 8% p.a. | ||||||||
| Term of loan | 36 months | ||||||||
| Car loan interest | 2,400.00 | ||||||||
| Depreciation on sale | 7,800.00 | ||||||||
| Mileage over 3 years | 36,000 | ||||||||
| Average miles per gal | 40 | ||||||||
| Average miles per service | 10,000 | ||||||||
| Average cost of service | 175.00 | 29.1667 | 22.5875 | 13.6847 | 65.44 | ||||
| Cost of tyres - per tyre | 70.00 each | 11.6667 | 09.0350 | 05.4739 | 26.18 | ||||
| Current cost of fuel | 1.33 per lt | 00.2221 | 0.6579 | 00.1720 | 00.1042 | 01.016 | |||
| Fuel tax % | 16.67% | 49.36% | 12.91% | 7.82% | 86.76% | ||||
| Annual mileage | 12,000 | ||||||||
| Annual car insurance | 350.00 | 45.1751 | 27.3694 | 72.54 | |||||
| Annual car tax | 155.00 | 155.00 | 20.0061 | 12.1207 | 187.13 | ||||
| Annual breakdown cover | 61.00 | 10.1667 | 07.8734 | 04.7701 | 22.81 | ||||
| Car loan interest repayment p.a. | 800.00 | 154.58 | 62.56 | 217.14 | |||||
| COST PER MILE | 0.51 | 00.0717 | 00.0294 | 00.0739 | 00.0422 | 00.22 | |||
| COST PER MILE pence Including Tax & NI already paid on Salary | 0.63 | ||||||||
See Petrol Prices.com for cheapest fuel
True Cost of Using Your Car - Chandlers Ford - Hampshire - Chandlers Ford Community Website
