£4,000 annual fuel bill, time for a new car?

whitewing

Necessity forced us to have an old banger. It didn't bother me, but my DH really hated it. I didn't realise how much until we upgraded earlier this year. So yes, I think you have to factor 'status' in a little bit.

spaceboy

It matters to some people more than others.

FlyingBoomerang

I'm not bothered about 'status', but as said I enjoy my luxuries.

I guess it really is head vs heart! Looking at my records, I've spent £3k a year on fuel for the past 4 years and have not really cared because it was mostly for pleasure, I was also earning a lot more back then.

getmore4less

FlyingBoomerang wrote: »

I don't mean to buy new, sorry if it came across that way. I mean I just dont want an old car, 4 years old is ok though

OK why not go for a cheap economical runaround the first year and upgrade to something better with the savings.

property.advert

You are moving in 18 months time. You are concerned with cash. You will need all your cash reserves to move, not buy a new car.

If you could get 50% more mpg and no, you will not get 60+ or 70+ as they are pipe dreams in city driving, then your £300 a month would drop to £200 a month. However, you would have traded your known car for an unknown quantity.

Your maximum upside is £1800 in this example but you will most likely face some servicing and repair bills (tyres most often) on the new car and that will eat into your £1800. Maybe you end up £1500 ahead.

However, you have to sell one car and buy another. Your car is not highly prized and will fetch little yet the car you want will be relatively expensive by comparison. Your net position will be in the red as I cannot see you swapping your car and parting with less than £1500 in the process. Thus, I'd advise to stick with the devil you know and enjoy the luxury.

davidjwest

Why not get a diesel Mondeo? I average close to 60mpg, mainly motorway miles.

spaceboy

davidjwest wrote: »

Why not get a diesel Mondeo? I average close to 60mpg, mainly motorway miles.

Surely the Focus will be a bit lighter and better mpg?

FlyingBoomerang

davidjwest wrote: »

Why not get a diesel Mondeo? I average close to 60mpg, mainly motorway miles.

I considerd that, but the depreciation would knock any savings out. The likes of a Fiesta diesel hold there money well.

FYI, here are my yearly running costs NOT including servicing OR general fuel costs (so strictly commuting)

Current car: £4,780
2.0 petrol Mondeo: £3,784
2.0 diesel Mondeo £3,076
diesel Fiesta £1,997

Thanks for all the comments so far.

Kilty_2

Is £1997 based on 72MPG though?

I think you should base it on more like 50.

rodenal

I would definately have a look at the vrs octavia diesel, very good car that should hold its value pretty well, I would also consider the 1.6 tdci focus, can be had pretty cheap now and its a great little engine.

The fiestas are ok but I drove a zetec s diesel recently and it was unbelievably slow, I simply couldn't have driven it every day. I shudder to think what the 1.4 would be like.

I assume the st diesel mindeo is of no interest / doesn't make sense for you? Also a good car