Why my car is a money-eating monster?Created: 13/11/2017
Uncover the exact costs and expenses of your car; discover how to reduce them by linking your vehicle on Rent a car club.
Cars are very expensive to maintain. If you have your own vehicle you co-exist with a monster. Some expenses are variable and others are fixed in that they are incurred without even using the car.
Ensure you check the cost of your car yearly and learn how to offset these expenses. The fixed costs include insurance, tax, depreciation, reviews and maintenance. The variable costs include fuel, parking, cleaning and tolls.
Parking fees in Thailand can range from 150 to 250 baht per day. Insurance costs vary depending on the car class, from 250 baht to 18,000 baht.
Taxes are calculated by the cc of your vehicle as follows:
- First 600 cc: 0.5 baht per CC
- 601-1800 cc: 1.5 baht per CC
- 1801+: 4 baht per CC
If one’s car is older than 5 years the deduction is calculated as follows:
- Year 6: 10%
- Year 7: 20%
- Year 8: 30%
- Year 9: 40%
- Year 10+: 50%
On average your total maintenance costs of a car in Thailand will cost between 10 to 20 k baht. All these costs are incurred by the car not leaving out the depreciation rate which is on average at 60%.
How can this monster in my garage work for me?
The worst part of the expenses incurred is that your car never reverts back any revenue unless you use it wisely. Your car is still incurring costs and expenses even as it is parked. In order to offset the expenses, one has to find work for their vehicle. Be smart and employ your car to work for you to cover part of the costs incurred.
Instead of having your car in the parking lot, digging into your pockets, put the car to work for you by having it as a car rental. Car owners can now put their cars to work to offset the expenses incurred. How can this be done? This can be done by renting out your car to other people when you don’t need to use it. This rate varies however by the rate, quality, price and running costs. The car rental will ensure you offset the expenses incurred.
How can one benefit from renting their car on Rent a Car Club?
Did you know that if you rent your car for 1000 baht a day for 30 days you can get 360,000 baht in a year. This will go a long way in offsetting your annual expenses of your car. High end and classic cars have a higher daily rate. You can rent out your car at an average of 100,000 baht yearly if your car falls into the latter category. You can get up to 3000 baht per day and over 400,000 baht in a year from your car rental.