The traditional formula of owning a car has been losing followers in recent years. Spain has historically had a very powerful ownership culture, both when it comes to cars and housing. Having your own car was, a couple of decades ago, one of the greatest aspirations, but this trend is changing to the benefit of other modes of use.
The question is, is owning a car the best alternative from an economic point of view? Obviously, a purchased vehicle, once paid for, allows you to enjoy it without having to make monthly contributions for its enjoyment, but the truth is that there are other associated expenses.
Every ownership experience is different. It is influenced by a multitude of factors such as the cost of the vehicle, fuel consumption, the price of tires, insurance policies, MOT inspections, etc. But let's give a practical and documented example based on personal experience. In my case, I am the owner of a Mini Paceman SD Cooper registered at the end of 2013 and acquired, on the used market, in 2018.
The used market, currently with prices through the roof, a few years ago allowed access to cars in good condition with very competitive sales rates. In the case of this Mini Paceman, the price paid was 13,000 euros. Its general condition was satisfactory, although it had already accumulated a figure very close to 100,000 km.
The first months of ownership were very calm. The vehicle had been delivered in good condition by the seller and its operation was perfect. In addition, its previous owner had contracted a maintenance program that was still in effect. In this way, the first necessary operations - focused on the brake equipment - were covered.
The first significant outlay came with tires. It was time to go to the ITV and the covers it had had covered its job, its degree of wear was high. This model is equipped with wheels with dimensions 225/45R18, with a speed index of 95. The approximate price of each tire, if a “prestigious” brand is installed, can range approximately between 160 and 180 euros, already installed on the vehicle. That is, the installation of four new tires costs between 640 and 720 euros.
Sooner or later, to a greater or lesser extent, breakdowns and incidents occur in any car. It is true that reliability indices vary among the multitude of brands and models on the market, but none of them are immune. Our Paceman survived very well and aged without problems until 2022, when it was necessary to replace parts related to the clutch, a minor breakdown, but which involved an outlay of close to 500 euros.
Maintenance operations are basic for the correct functioning of the vehicle and, of course, to avoid unwanted breakdowns. In this case, the usual changes of oil, air filters, fuel filter, etc., have an approximate cost of between 250 and 300 euros and must be carried out every 15,000 km. In total, the revisions have cost 1,800 euros.
The list of expenses does not end here. Taking out a mandatory insurance policy represents another important outlay. A third-party policy with a deductible of 200 euros, for example, costs about 400 euros per year. It is also necessary to pay the Mechanical Traction Vehicle Tax annually to the town hall where you reside. In this case, the Mini Paceman SD requires an annual payment of over 100 euros.
It is a car of a certain age, it is necessary to pass the Technical Vehicle Inspection, popularly known as the ITV, annually, with a fee of 60 euros. Finally, other minor incidents arise, but they also require an economic outlay. For example, replacing lamps: as it is equipped with xenon technology, each one costs 100 euros.
Adding all the specified costs to enjoy car ownership, the average monthly payment would be 280 euros. It is not only about assessing how much it costs, it is necessary to measure the cost of maintenance and possible breakdowns generated by its wear. Is it necessary to take these risks? The answer is no, currently there are other formulas that allow you to enjoy the vehicle with greater peace of mind.
Renting, leasing or car subscription are alternatives to enjoy a car without having to buy it and saving many of the worries caused by car ownership. The first two usually offer long-term products, a four-year contract with the possibility, at the end of it, of returning the vehicle or paying a final installment to keep it permanently.
The advantages of these modalities are multiple, since the contracted fee may include maintenance operations, tire changes or the cost of mandatory insurance. However, many users consider the fact of not being owners and always being renters to be negative. On the negative side, the penalty that usually exists for exceeding the established kilometers traveled or the possible one that exists in case of canceling the contract is also taken into account.
The subscription car is a pure rental, with shorter contract periods. This maximum flexibility allows you to change the vehicle frequently, without having to pay a deposit and with everything included. Another formula that has been introduced in recent years is carsharing, using and paying for cars by time, even by minutes and hours.
