Best car to save money when doing lots of miles

RustyGuitar

Hi there thanks for all your replies I'll have a look into the hybrid Lexus and Toyotas .
My driving pattern usually consists of a lots of daily 50 mile trips.

noclaf

scaredofdebt wrote: »

Consider leasing.

I was quoted around £250 a month for a new Skoda Octavia (I think it was 20k miles but maybe not)

50+ MPG, great motorway car, no worries about repairs etc as it's brand new and under warranty.

You can also look at leasing electric but they cost more, I think the Tesla came out around £400 a month but double check as memory is a bit hazy.

I'm not a snob when it comes to cars, I recently had a P reg pug 306 for example, but when you factor in repair bills it can work out cost effective to lease from new.

(I've just spent over a grand having my Kia Rio fixed, new EGR valve plus some other issues) If I'd bought from new that wouldn't be my problem (car is now out of warranty).

Interesting, one of the first I've seen on this forum who is 'pro-lease'. I run a banger right now, but thinking abt leasing when the car starts to throw up any big bills or if major issues crop up. My justification is opportunity cost of using cash e.g: hold onto cash you would of spent buying outright to use on a property or whatever other big purchase.you have planned. I still think buying used with cash outright and then keeping the car for a long time is the cheapest option but understand it won't suit everyone and with age comes the usual maintenance. I don't do many miles (5k per annum) so maybe that sways the argument back to buy with cash.

AdrianC

noclaf wrote: »

I don't do many miles (5k per annum) so maybe that sways the argument back to buy with cash.

Not really. All finance structures are based on the expected depreciation over the contracted mileage.

If you're only doing 100 miles/week, then you really need to stop and ask yourself if paying somewhere around 60-70p or more per mile to rent a shiny new fast-depreciating car for a couple of years makes any financial sense at all. Especially if your motive is to save about a sixth of that on fuel...

noclaf

AdrianC wrote: »

Not really. All finance structures are based on the expected depreciation over the contracted mileage.

If you're only doing 100 miles/week, then you really need to stop and ask yourself if paying somewhere around 60-70p or more per mile to rent a shiny new fast-depreciating car for a couple of years makes any financial sense at all. Especially if your motive is to save about a sixth of that on fuel...

I was inferring that if doing such low miles per year (5k is quite low) then that justifies buying rather than leasing but to be clear I meant 'buying used'..I would never ever buy new...even if I could afford to due to the reason you mentioned namely depreciation. To give you an idea I am comparing leasing in the region of £150-£200 per/m vs buying cash for upto £10-12k and then keeping the car for quite a while...current car owned 10 years and still plodding along.
I've just taken the OP's thread off track so apologies and back on topic ��

leviathan

Any catch to the funding of the car?
ie: work givn car allowance, vehicle must be under 8yrs old


If not, why buy new, buyer older lose less money through high miles and depreciation.