current car v runaround v brand new car??

lindseydaniel

Hi,

Just after some motoring advice. My thirsty ford galaxy is costing me a fortune to run so I need to decide whether to get rid of it or not. I have 4 kids (2 who live with me and 2 from a previous relationship who don't) so that is why I went for the 7 seater but my wife has a car and I am thinking that it would be cheaper to take 2 cars with us when we all need to go out together rather than running that tank.

I worked out the running costs of each of my options but am not sure whether I can justify a new car even though on paper it looks the sensible option. What do you people think??

Current Car - Ford Galaxy - 1999
Running Costs:

Fuel: £160 a month
Insurance: £38 a month
Tax: £20 a month
MOT: £15 a month
Random maintainence and repairs: £15 a month
Breakdown cover: £12 a month

Total: £260 a month


Runaround:

Fuel: £100 a month
Insurance: £35 a month
Tax: £15 a month
MOT: £15 a month
Random maintainence and repairs: £15 a month
Breakdown cover: £12 a month

Total: £192 a month


Brand New Car:

Monthly payment: £120 - £140 a month
Fuel: £50
Insurance: £30 and possibly free for first year
Tax: Free for first year then equivalent of £2.50 per month
MOT: NA
Random maintainence and repairs: Warranty
Breakdown cover: Free with car

Total: £202.50 - £222.50 depending on car.

I worked out a monthly cost for maintainence and mot looking at what I have spent over the last few years on other cars.

Cheers

Daniel

MX5huggy

You have missed out Depreciation on the new car, £10k car worth £5k in 3 years so £140 per month cost on top. If the galaxy is basically reliable I would stick with it.

lindseydaniel

I would do one of them schemes all the dealerships do where you can trade in for a new one after 3 years. I used to do it with fords on their options scheme about 10 years ago and changed the car every 2 or 3 years and the payments more or less always stayed the same. I know you are always paying for a car but i never had to worry about mot or repair costs.

jase1

Does the Galaxy really use 3 times more fuel than a new small hatch?

i.e. 20mpg?

And do you really think you'll get the full 60mpg out of the new car?

jase1

Just looking at the figures -- 20mpg is 2/3 what the 2.3 petrol is supposed to be capable of.

So if a new car states 60mpg, in your driving patterns it'll probably only manage 40-45 (round town).

(of course, if it is a V6, then you have my sympathy).

lindseydaniel

Yes it drinks it. I only really drive to work (10 mile round journey) and I am putting in £20 every 3 days or so.

My wife has a citroen c3 which according to citroen does 85 to the gallon. It doesn't do quite that but I put £50 in there when I get paid and I don't need to put anymore in until I get paid the following month. It gets used a lot more than the galaxy too.

jase1

Bloody hell.

15 litres is only getting you 30 miles?

That's NINE MILES PER GALLON.

Yeah you need to get shot if that's right!!!

lindseydaniel

if thats the maths then that is what i am getting. i go the odd place other than work but not great distances, so prob a little more than 9mpg.

LandyAndy

It is extremely difficult (but not impossible) to save money by buying a newer car.

rev_henry

There MUST be something wrong with the Galaxy surely? Unless its the V6, in stop/start traffic all the time, at a push maybe...

getmore4less

Your breakdown cover is costing far too much.

We get 2 full european RAC for £15pm and that comes with holiday insurance and loads of other stuff.

Check what your bank offers with a paid for account.

Do you need 6 seats and luggage there are some 7 seaters than use the boot.


On a newer car you should be able to get something with much cheaper tax.


I only really drive to work (10 mile round journey) and I am putting in £20 every 3 days or so

get a bike if it only 5 miles each way.