Cheapest way to do 7500 miles a year.

Sandrock

I'm a young(ish) mortgage-free wannabe. I'm overpaying the mortgage like mad as well as building up significant savings in order to be able to pay our 25 year mortgage within 10 years (before I'm 35). During this period, I am cutting back in other areas of my life (without being extreme...) in order to free up extra cash every month to throw at the mortgage.

One of the key areas I want to try and cut back is motoring. I have a £2500 large estate car which costs me £170pcm to run (tax, diesel, servicing/mot, insurance, budget for repairs) over 7,500 miles. It is also depreciating at about £40 a month, making my total costs of motoring £210. It has been very reliable, but is high mileage and the possibility of a big failure is there and could potentially cost £1000+.

I've looked into smaller newer cars which have much lower monthly running costs (excellent fuel economy, low or zero tax, no maintenance - warranty, cheap servicing etc), but this would be mostly outweighed by the extra depreciation. Likewise, a £500 shed will cost little in depreciation, but have the potential to be much more expensive in terms of running costs (repairs). Plus I'd also have to drive a shed.

I'm a big petrolhead and have had some pretty quick cars and motorbikes since 17, so I'd especially look at anything which had some kind of fun factor to enjoy, rather than a white good although my primary objective is cheap to run!

Any ideas?

harveybobbles

Whats the failure that your expecting?

Sandrock

harveybobbles wrote: »

Whats the failure that your expecting?

The particlar engine is renowned for two or three major failures, two of which would require a new engine or replacement engine. The car is on the original engine (none of the usual failure so far) at 140k and I would expect to do another 25k in 3 years taking it to 165k.

It would be wrong to say I am expecting a major failure, as I am sure many cars of this model manage to get to 200k+ without a major failure, but it would be more accurate to say I would not be surprised if there was one at some point over the next 25k.

harveybobbles

What car is it?

blue_haddock

Perhaps run it till it fails and then flog it on ebay as spares or repair. Then look to spend approx £1000 on something as dull as dishwater but reliabnle like a nissan almera or something similar.

sierrakilo

You don't mention what sort of driving is involved in your 7500 miles........ city, suburban commute , A roads, motoways..........is it for just you ? or multi occupancy ?and any load carrying capacity .....would make a big difference in which car I would go for .

mark5

I would keep your current car until it does fail, make sure you carry out regular oil and filter changes.

Sandrock

The car is a Nissan Primera 2.2 DCI.

It's got FSH and I carry out my own servicing and maintenance - I do an oil change every 6 months as my oil is virtually free.

My driving is all rural B-roads, very twisty. Usually just myself in the car but sometimes my partner too, hardly ever more.

No load carrying needed excepting shopping. Not sure why I ended up with a big estate!

I also have an MX5 but it's off the road at the moment whilst I'm doing some restoration work on it, this is my fun car and not costing anything whilst off the road - yet to decide whether or not to get it on the road and keep it or sell it!

Kurtis_Blue

Lotus Elise Mk1, no depreciation, great MPG, tiny part and servicing costs, every journey a joy.

Insurance??

Kilty_2

£170pcm seems a lot to run such a car - is your insurance really expensive?

mark5

I do similar Miles in a 2005 Mini Cooper and disagree with £170pcm being alot to run a car, my Mini comes in at roughly £155pcm before even calculating depreciation which I think its lost me £140pcm since I bought it 2nd hand 3 years ago going on what i paid and what Glass value it for part-exchange.