1st year expenses

2012 is coming. I wanted to summarize total expenses for the first year.

Skoda Fabia 1st year expenses chart

Important highlights:
- total 17,642 NIS or 1,470 NIS/month
- half of the budget spent on fuel
- quarter on insurance
If you want to take depreciation loss for this year into account (+16,500):
- total 34,142 NIS or 2,845 NIS/month

Few things to note:
- Loans: from initial 72,000 NIS loan I now have only about 30,000 NIS. It was hard for me to return such a sum but I did it. So probably, if you keep your loan plan as planned with Skoda it's cost should be more expensive.
- Insurance: it can be lower or higher depends on several parameters like age, history, insurance company.

Bottom line - take this chart as start point of overall expenses for your new car for the first year. Also, I didn't show here any money spent on extra oil changes, toys (like Multitronics, dash cam), security things, accessories (luggage nets, wash stuff) and much more. You can add another 8,000 NIS here :-)

If you thinking about to buy a car or take company car. My previous leased company car (regular sedan) cost me 3 000 NIS/month that is 36 000 per year. Of course it includes fuel, insurance, garage cost. But if you driving only 20 000 km/year and you can do related work by yourself (insurances, garage, etc) - you better consider to buy a car. Because after 3 years of paying for leased car - you have nothing, but in case of you own car - you have your 3 years old vehicle that you can sell or change for new one.

My recommendation if you want to buy/lease a car:
- 600-800 km a year - use taxi
- 1,000 - 17,000 km a year - buy a car
- 18,000 - leasing at work

Compare charts from data that I have now.

Skoda Fabia expenses compare

As you know, fuel price changes almost every month, here relevant stats too:

- minimum 6.69 NIS/liter (

- average 7.35 NIS/liter

- maximum 8.80 NIS/liter (because of 98 octan)

By the way - Happy New Year!

Update (2012-02-19): Added depreciation loss and fuel data.