A car - buy, lease, HP - advice please.

Returnee

Just realised there is actually a motoring section to the forums, sorry for the double posting

I will be returning to the UK early next year and will need to get a car.
I will be staying for definite 2 years most likely 3, possibly 4 but that is a bit far ahead.

I've been looking at all the options and trying to work out what is going to be the most cost effective.

I will be commuting up to 100 miles a day from my house to university. Moving closer isn't really an option since I am being given the apartment by my parents to stay in until my two year course is finished.

I would estimate approximately 2000 miles a month or there abouts for the first year, maybe more or less for the second year.

Options I have looked at

1) Leasing a small fuel efficient super mini - unsure of how much it would be at higher mileage but at 10,000 a year it's around 150 pounds
2) Buy a new car outright - not really into this idea as it would hammer my funds.
3) Buy a new car on finance.
4) Buy a new car on that HP thing where I hand it back or pay the balance
5) Buy a second hand car small fuel efficient - up to 5000 pounds, preferably less.
6) Buy a large engined second hand car that is being sold cheap because of the running costs and spend the extra on fuel over the time I use it.

7) Something suggested by others on here that I haven't thought of.


I'm 6'4" so not every car is suitable and commuting ~40-50 miles each way in discomfort isn't exactly a pleasing thought.

I still have an excellent credit rating in the UK. I've kept bank accounts open and used my credit card overseas for ticket purchases so they are still used. I'm not on the electoral role but I can put myself on once back easily enough.

I will have some income over the two years.

Any ideas of cars, deals, makes, models. Anything for me to chew over would be appreciated.


Cheers





Any suggestions on costs

Conor_3

1) is going to crucify you on mileage penalty payments.
2) already not ideal, resale price will be hammered by mileage.
3) see 2)
4) see 1 and 2
5) getting there.
6) Is the right answer although more a mid sized car such as a Vectra or Mondeo. A well maintained 7 or 8 year old one should eat up 2000 miles a month OK with very little maintenance other than routine required and you should find a good example for around £1500. I had an old M reg Mondeo which we bought for £300 5 years ago. A couple of years ago it was doing 560 miles over a 4 day week without any problems. It's all in the maintenance.

goldspanners

or you could buy a farily new mid sized car with half decent fuel economy within your 5k budget easily.
found this after a quick search.
http://cgi.ebay.co.uk/2006-FORD-MONDEO-2-0TDCi-115-LX-Euro-4_W0QQitemZ370103650062QQcmdZViewItemQQptZAutomobiles_UK?hash=item370103650062&_trksid=p3286.c0.m14&_trkparms=72%3A1301|66%3A2|65%3A12|39%3A1|240%3A1318