We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Car with good mpg and Auto transmission under 20k

zen.works
zen.works Posts: 27 Forumite
edited 15 February 2011 at 7:45AM in Motoring
I'm seriously looking at replacing my existing car with a brand new Car, but I'm confused whether to buy outright or go for leasing.

Currently I'm driving a Ford Mondeo 01 reg which is costing me a lot to run 2.0 engine and approx 24mpg. Which runs abat 270miles on a full tank.

I do approximately 250 miles a week as I commute to work, so I really need a Car with good Mpg. I don't really care about accelration looks or responsiveness. So I'm looking to buy a Honda Insight which is a 1.3 hybrid with 64mpg - combined, which is even at the modest calculations will double my current mpg.

I don't really want to buy used cars as I'm planning to keep my new car for atleast 10 years.

I'm going for Honda coz of its good reliability and many other things for which honda is famous for - And add to that is the japanese reliability.

I got this idea about leasing coz I've seen lingcars.com, a really good website which compares diff models and more than that excellent deals on new car leasing.

For Hond insight it comes upto 250 a month, which is not bad, even if I return the car at the end of leasing it will only cost me 9k in total, which is significantly cheaper than the list price for the particular model that I'm looking to buy, which is around 20k

I know I don't own the car and stuff but they say I can buy it at the end of the lease. and for the first 3y there's servicing and road tax is thrown in for free.

But I'm not very sure about the buy back option and the cost at the end of the lease, If I want to keep the same Car.

I look forward to MSE opinion on this matter....thanks
«13

Comments

  • isplumm
    isplumm Posts: 2,219 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Hi,

    I have just bought a new Focus - they have some cracking offers on them at mo - as they are trying to get rid of the old models - I got £7k off list price ....

    As to leasing - well you have to do a set number of miles a year - if you go over that the mileage expense could be quite high ...

    Mark
    We’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email forumteam@moneysavingexpert.com
  • zen.works
    zen.works Posts: 27 Forumite
    wow..thats a damn good price for a new car...congrats, I would certainly look for that deal, but how much is the road tax and mpg for the focus...please advise
  • zen.works
    zen.works Posts: 27 Forumite
    what abt the engine size.....?
  • epz_2
    epz_2 Posts: 1,859 Forumite
    leases have restricted mileage, then you pay a lot for every extra mile.

    250 a week (50 a day) sounds like motorway driving to me, a 1.3 might be really good in town but I would check what sort of mpg it gets at 70. The type of commute may effect the car you should get, ie if you are jumping straight on the motorway and back off then there is no point getting a city car.
  • zen.works
    zen.works Posts: 27 Forumite
    its 250 a month....
  • isplumm
    isplumm Posts: 2,219 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    zen.works wrote: »
    what abt the engine size.....?

    Hi,

    I bought a Focus Tci 1.6 5 door titanium ..... £30 a year tax .... 40% down, 0% finance - £13k .... they are bringing in the new focus soon, so I suspect you could haggle a good price - look online for the best price & see whether ford dealer can beat ... make sure you don't buy pre-registered thou.

    Mark
    We’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email forumteam@moneysavingexpert.com
  • isplumm
    isplumm Posts: 2,219 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    zen.works wrote: »
    its 250 a month....

    250 a month .... creeps ... I can do that in a day!!!!!

    You might get a good lease deal for that .... look on-line.

    Thanks mark
    We’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email forumteam@moneysavingexpert.com
  • Kilty_2
    Kilty_2 Posts: 5,818 Forumite
    zen.works wrote: »
    its 250 a month....

    epz meant your mileage - ie 250 miles a week, not the £250 a month leasing cost...
  • Hintza
    Hintza Posts: 19,420 Forumite
    10,000 Posts Combo Breaker
    If you have the money in the bank the buy just now you are getting virtually no interest and inflation is over 5%.

    Lease deals are not that good just now and the sums need to be worked out carefully.

    If you want to keep it for 10 years then a lease is not really an option.

    As for Ford pricing that is another story. I can give you £10k off a new Fiesta if I kid in the RRP is high enough.
  • isplumm
    isplumm Posts: 2,219 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Hintza wrote: »

    As for Ford pricing that is another story. I can give you £10k off a new Fiesta if I kid in the RRP is high enough.

    Hi,

    I agree that the list price is rather pointless for a ford .... but there are some VERY good deals for focus out there - especially if you haggle ...

    Mark
    We’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email forumteam@moneysavingexpert.com
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.4K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.3K Work, Benefits & Business
  • 604K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture