Ahh, yes, depreciation. That's traditionally the biggest expense in motoring.
I did leave that out due to my preferred way of keeping it to a minimum for our daily drivers, which is to buy the cheapest possible new car that will do the job, look after it and keep it for its entire useful life.
Thus, I bought our two main cars, the Pulsar in 2016 and Viva in 2017, for a combined total of £20,000 with both PCP'd at 0% interest. The payments were, as I recall £160 per month for the Nissan and £117 for the Vauxhall. I paid off the baloon payments at the end of the PCP so we now own them outright.
It's my expectation that we'll get around twelve years out of each before we need to change either, so the depreciation would add another £138 per month to the equation for those two cars.
Depreciation on my son's Peugeot isn't so much of an issue as it was only about £1,500 to start with, and so long as it still gets through the MOT it won't drop much below that.
The MG and Mini, however, are a different story, as both are now worth rather more than what I paid for them, which is rather nice.
