Buy car with cash or lease.

[Amateurish]

EVs have terrible residuals. The i3 may turn out to be different, but I wouldn't bank on it.

"Monumentally dull" - have you driven one?

[MajorProblem]

Imagining what cars EV tech will be like in 3 years I'd be surprised if you got much interest come sale time

[rovermorris999]

Remember those mobile phones the size of bricks with a few hours battery life? That's the stage EVs are at now. If I wanted one, I'd lease.

[DJP]

Buy cheaper car. Pay chunk off mortgage.

Simples.

[subevo]

Thanks guys.
Yes I've driven the i3.its acceleration is amazing.its basically a hot hatch .not nearly as dull as you might think.plus after having a v8 I don't want to visit a petrol station again.

[ORD]

subevo said:

Thanks guys.
Yes I've driven the i3.its acceleration is amazing.its basically a hot hatch .

[Stenn]

Leasing without a doubt.

There's no chance I'd be putting £30k into a brand new car with unknown residuals, even more so if I had a £50k mortgage remaining.

[12lee]

subevo said:

Thanks for the replys.
...if I get made redundant in the next year or so I can just sell the car.

...almost certainly not at the price you want or in the timescales necessary. Cars are easier to buy than sell when you need to sell them.

[BL Fanboy]

Stenn said:

Leasing without a doubt.

There's no chance I'd be putting £30k into a brand new car with unknown residuals, even more so if I had a £50k mortgage remaining.

Worst "I've got no mortgage" post ever.

Seriously though, paying off a chunk of the mortgage is the best idea.

Although, in your case this doesnt apply (time wise) , but don't let anyone tell you "A mortgage is the cheapest loan you'll ever get" nonsense. How many cars do you keep for 20 odd years which is the time the portion of the mortgage that would've been paid off could be hanging around for - which is in effect what you'd be doing if you didn't use the money to clear the debt if you follow.

I've got a mortgage with a reasonable interest rate but its rather sobering to discover that for every pound I borrow I end up paying 58p back on top.

[Stenn]

BL Fanboy said:

Stenn said:

Leasing without a doubt.

There's no chance I'd be putting £30k into a brand new car with unknown residuals, even more so if I had a £50k mortgage remaining.

Worst "I've got no mortgage" post ever.

Ha! No.. I definitely have a mortgage, sadly. I meant if I was in the position of the OP and had a chunk of spare money which could clear more than half of my mortgage, there's no chance I'd spend it on a brand new car.