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WHAT IS THE REAL COST OF CAR OWNERSHIP?
 Apart from the initial purchase, the biggest cost with a new car is depreciation - the amount of value your car loses as it ages. Heaviest depreciation occurs in the first year and differs widely according to the car. Generally, though, prestige, specialist and sought-after cars depreciate more slowly than mass-produced cars from volume manufacturers.
As a rule of thumb, first year deprecation is halved for the second and third years. So if a car loses 30 per cent of its value in year one, it will lose 15 per cent in year two and 15 per cent in year three. After a car's third birthday, depreciation levels out and value is determined by condition, mileage, colour, specification and so on. Trade guides will tell you the typical depreciation for your chosen car.
Fuel costs are likely to be the next biggest expense. Divide your annual mileage by your estimated miles per gallon (mpg). Multiply the figure you get by the price of a gallon and the answer is your annual fuel bill.
You will be able to find out servicing, repair and, if your car is older than three years, MoT test costs from your chosen garage or dealership.
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BACK TO BUYING A CAR HOMEPAGE
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