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Does Your Micra Cost the Same to Run as a Porsche?
October 16, 2015, 11:39 am
When you start to add everything together you may be surprised by just how much you’re car is costing you.
To give you a comparative idea of running costs, let’s compare the costs of running an old Nissan Micra to a new Porsche Panamera.
Running Costs
Due to the small 998cc engine, a Micra (even a 15 year old one) will deliver a pretty good 40mpg. This means that you’re getting a pretty good return on fuel, however despite the small engine it still produces 152 g/km which means you’ll end up paying £180 road tax.
With its E-Hybrid technology, the Panamera is capable of matching the much smaller engine’s 40mpg – meaning you’d pay the same amount for fuel with a Porsche and a Micra. In addition to this, you can save yourself a further £180 a year as there is £0 tax to pay on this vehicle.
Servicing
Micras require a service every year or every 10,000 miles, in addition to this they will require a major service every 20,000. If the average cost of a minor service is £150 and a major service costs £300, then this can be a very expensive cost. That’s without adding in the price of parts that need replacing and changing – this can quickly turn a minor service into a major overhaul.
The Porsche Panamera only requires a minor service every 20,000 miles or two years – saving you a large chunk of cash every year. In addition to this, due to being a newer and more reliable vehicle, you’re a lot less likely to get slapped with extra costs from parts that are worn out or broken.
Repairs
While Micra may not be the most unreliable car on the road, the average repair cost of this vehicle is £300 – on a car of this age, which could be up to 90% of the price of the vehicle! This is a huge amount to be paying if the vehicle is already old and worn out – especially as the older and more used the vehicle is, the more you’re likely to have to pay for repairs.
Porsche Panamera models’ are too new to determine reliability, but if it is anything like the German manufacturer’s other vehicles then you can expect it to have good reliability. Surprisingly, the average repair cost for Porsche is around £500, which is just 1% of the price of the car – a cost that is much easier to justify paying.
Depreciation
A 15 year old Micra that’s done 10,000 miles a year will not have held onto its value well. If you paid £12,000 – £15,000 for a brand new Micra then you’ll have lost over 90% of the value of the car in this time. Most 2000 Nissan Micras sell for under £200 – and that’s with a full service history and immaculate paint work!
Porsche, on the other hand, holds their value much better although the monetary value is greater initially. For example, a brand new Porsche Panamera will cost around £90,000 but after 5 years and 60,000 miles they will still retain more than 70% of the initial value, selling at £65,000.
Overall
While it may not strictly be true that you can own a Micra for the same price as a Porsche, there are a lot of similarities within the costs. The truth here is that old cars are much, much more expensive to run than you may think – you’re better off selling your banger and buying something new and much more affordable.
Find out how much we’ll pay by entering in your reg number at Cashpoint4Cars today.
