Lease New Iq Or Keep Old Megane?

buuuug

Hi,

Sorry to drag any readers into my quandry but any opinions on this would be dead handy as i am tying my head up in knotts.

Basically money is very tight which is why i havent jumped in to take on a lease car in replacement for my current ’96 Megane as I would feel irresponsible however, as far as i can see a new lease IQ would work out the same/marginally cheaper and i get no maintenance costs.

If I spend a conservative £1000 per year on MOT, maintenance and repairs, my road tax, RAC cover and fuel of (60litre tank £71 to fill) a tank a week (approx 490 miles=37mpg) then that totals over a 52 week year £5,456

If I lease a new IQ from work, no MOT or maintenance charges, no road tax, no RAC required, £227 a month lease cost and fuel of (38litres tank £45 to fill) a tank per week (alleged figures of 58mpg) then that totals over a 52 week year £5410

Am I missing something? It’s a four year lease but my current car wont last 4 years and I cannot buy a new one personally or used even. I do approx 25k miles per year so garage costs are currently frequent. £1000 is a very conservative figure as I did £679 in Feb, £200 in Dec (tyres), £200 Nov (brakes), £300 Sept (exhaust) £400 Aug (rad and MOT bits) etc. There was more but just provided a very brief list.

The MPG on the IQ will be a big variable, is 58mpg easily attainable? I have been reading through posts and it seems most do get that, driving like Angels no doubt but surely one would have to try hard to get the MPG down to the Meganes 37mpg?

I am afraid of stitching myself up by going for the lease car and afraid to have a monthly bill where there sort of isn’t one right now however, from the figures it looks as if the IQ actually costs less and is the sensible option as I cant be caught out anymore by surprise bills, they are all included!

I have a nice spreadsheet of this if anyone is more interested in how I got to the conclusion but experience shows the longer the thread the less likely anyone is to respond so wanted to keep it light.

Thanks

Natalie

Indout96

25k mileage in an IQ = not good. Its a "to the shops" car

Don't forget the tyres / exhaust costs are paid now and should last a fair while at 25K your exhaust should do 5 years easily.

Mousey2

I'm in the same situation and have also come to the conclusion that leasing is the best bet. I'd just rather know for definite how much my car expenditure is instead of breaking down and getting another huge bill.

The IQ you describe does sound expensive though. The lease I'm looking at is on a Polo and works out at about £150 per month for 2 years via a company I found after an online search.

It definitely seems a sensible idea and you may be able to sell your Megan for some 'just in case' money.

Have you considered a different car (if you have the option) in case within the 4 years your life style changes and you may have a family/dog etc that need a larger space?

owitemisermusa

Mousey2 wrote: »

I'm in the same situation and have also come to the conclusion that leasing is the best bet. I'd just rather know for definite how much my car expenditure is instead of breaking down and getting another huge bill.

The IQ you describe does sound expensive though. The lease I'm looking at is on a Polo and works out at about £150 per month for 2 years via a company I found after an online search.

It definitely seems a sensible idea and you may be able to sell your Megan for some 'just in case' money.

Have you considered a different car (if you have the option) in case within the 4 years your life style changes and you may have a family/dog etc that need a larger space?

Sounds like a reasonable deal. Which lease company?

cyclonebri1

Mousey2 wrote: »

I'm in the same situation and have also come to the conclusion that leasing is the best bet. I'd just rather know for definite how much my car expenditure is instead of breaking down and getting another huge bill.

The IQ you describe does sound expensive though. The lease I'm looking at is on a Polo and works out at about £150 per month for 2 years via a company I found after an online search.

It definitely seems a sensible idea and you may be able to sell your Megan for some 'just in case' money.

Have you considered a different car (if you have the option) in case within the 4 years your life style changes and you may have a family/dog etc that need a larger space?

Yep, a 14 year old megane should realise enough cash, "just in case" you forget your bus fare, , Sorry.

10JH

IQ won't be great for motorways.

Have you sat it in it as well, I love the exterior styling but was let down by the plasticy interior.

The iQ will come with a warranty too which should stop maintenance costs for at least 3 years.

Hintza

To me this is not cheap.

You could look at Kia's with 7 year warranties

or a Fiat Panda

http://www.fiatsupasaver.com/selectacar.aspx?vid=3

You need to open your spreadsheet a bit more and make a few decisions on whether unexpected bills outweigh a cheaper monthly option. Plus is your income/job secure?

Pew_Pew_Pew_Lasers!

buuuug wrote: »

my current car wont last 4 years

Why won't it?

jaydeeuk1

The 1.0l IQ is not a car for motorways. Gearing is VERY long (over 65 in 2nd gear). A slight incline will mean needing to drop to 4th or even 3rd if overtaking making 25k miles on motorways very hard work. I have the 1.33, which although still has long geared 6 speed box, is better for the odd motorway trip and gets better MPG at 70 on a slight climb than the 1.0l. Even then, I wouldn't want to do 25k in a year in it! Get a diesel (incidentally toyota actually do a diesel IQ, just not in this country).

10JH

Aygo diesel might be worth a look too. Bit boring, but great mpg.

cyclonebri1

jaydeeuk1 wrote: »

The 1.0l IQ is not a car for motorways. Gearing is VERY long (over 65 in 2nd gear). A slight incline will mean needing to drop to 4th or even 3rd if overtaking making 25k miles on motorways very hard work. I have the 1.33, which although still has long geared 6 speed box, is better for the odd motorway trip and gets better MPG at 70 on a slight climb than the 1.0l. Even then, I wouldn't want to do 25k in a year in it! Get a diesel (incidentally toyota actually do a diesel IQ, just not in this country).

Long gearing is exactly what you do want from a motorway car, but I think your point is that it has to be coupled to "adequate" power??;)