What a car really costs per month
The purchase price is only the beginning. Fuel, insurance, repairs, tyres and depreciation — how to work out the real cost of a car and decide whether you can afford it. · 5 min read
The costs people forget
When people estimate what a car costs, they usually think only of fuel. The full list is longer:
- Fuel — depends on mileage and consumption.
- Mandatory RCA insurance and, if you have it, optional comprehensive (CASCO) cover.
- Technical inspection, scheduled servicing, oil and filters.
- Repairs — even a reliable car needs something fixed every year.
- Two sets of tyres and seasonal changes.
- Parking, car washes, fines.
- Depreciation: the car loses value every year, and that is your cost too.
Work out your own number
Add up the yearly costs for every item and divide by 12. The result is often one and a half to two times more than “fuel per month”. If the car is bought on credit, add the monthly payment.
Compare the total with the alternatives: taxis, public transport, renting a car for trips. For people who drive little, a car often turns out to be an expensive pleasure.
Keep the costs under control
Create a “Car” category with subcategories: fuel, servicing, insurance. After six months of tracking you will know the exact monthly cost. Record insurance and inspection dates as recurring payments — you will get a reminder in advance. Fuel station loyalty cards can live in the Cards section and be shown straight from your phone.