How much does it really cost to own an Aston Martin? A buyers guide.
Since I was a little kid, I always loved cars. In particular, Aston Martins.
I’m not sure whether it’s the brand, understated styling, or maybe the Bond connection, but I promised myself one that someday I would buy one.
As it worked out, through a lot of hard work and a little luck, the opportunity came sooner than I thought. So in December 2011, I bought a 2007 Aston Martin V8 Vantage Roadster. Over the next 5 years I did more than 40,000 miles in the car and got to know it pretty much inside out.
Eventually I made the decision to sell the car — changes in my life and other commitments meant it was spending more time in the garage than out, so I decided it was time for someone else to enjoy it.
Reflecting on my time with the car, I thought I would shed light on some of the questions and uncertainties I had before I bought one, so that others might benefit from my experience.
How much does it really cost to own?
This is of course the big question. Here’s how it breaks down:
Depreciation: Buying the car at the right age is key to keeping this under control. To illustrate the point, the previous owner of my car lost more than £60k in the first 4 years and 19,000 miles. I lost £8k in the next 5 years and 40,000 miles (~£1,600/yr).
Servicing: Annual servicing costs are approximately £600 at a specialist, or £900 at a dealer. (~£750/year).
Consumables: Tyres are roughly £200 each and last 10k miles. Brake disks are £260/axle and last approx 20k miles. Brake pads are £260/axle and last 15–20k miles. (~£1060/year assuming ~10k miles/year).
Other Maintenance: Parts for this car are not cheap. During the 5 years, I ended up buying: A clutch (lasts up to ~50k miles) @ £4k. New brake caliper @ £450. A new rear lamp @ £350. Front lamp repair @ £450. Bubbling paint repair, common on these cars @ £780. Boot button @ £150. Thermostat @ £120. (So it averages out at £1260/year assuming ~ 10k miles/year).
VED (Road Tax): It’s the most expensive tax band. £545/year.
The grand total: £5,215 per year.
Obviously there are other costs that come with owning any car, insurance — I found it not to be dissimilar from a mid range BMW (Astons don’t tend to get stolen, or be driven by boy racers) and fuel (expect 17mpg on a good day).
Do I need a warranty?
That all depends on what’s been done already. The V8 is a solid engine and (maintained appropriately) is pretty much bulletproof. However they tend to suffer from a few common issues:
A timing cover oil leak, roof module failure, sticky first gear (manual cars), dodgy door locks, noisy power steering (additive required). All in all I had £8k (albeit priced at extortionate dealer rates) of work done under warranty in the first year I owned the car, making it very much worthwhile. I negotiated a second year of warranty that I didn’t end up needing, and didn’t renew for the final 3 years (only replacing ~£600 of parts the warranty would have covered in that period anyway).
The AM warranty costs £1800/year meaning if you’ve got a well looked after car with the common issues sorted, you might be better of putting that money in your piggy bank and taking your chances.
Is it worth it?
In a word, yes. If you can afford it, it’s not a selfish decision and you’ve always wanted to do it, then do your research, find the right car, then go for it.
Here are some gratuitous pics if you needed any further convincing…
