Man maths new car dilemma!! Opinions please
Discussion
Hello all
Current job is 3 hours each way (115 ish miles) so thats 1k miles a month going in once per week.
Thats 12k a year without any other use
I currently have an i4 on 72k.
The question.
Do I continue running the i4
Or get a cheaper 5k car for example and just use that? Ideally with a large boot etc so its got more use.
Thanks
Current job is 3 hours each way (115 ish miles) so thats 1k miles a month going in once per week.
Thats 12k a year without any other use
I currently have an i4 on 72k.
The question.
Do I continue running the i4
Or get a cheaper 5k car for example and just use that? Ideally with a large boot etc so its got more use.
Thanks
Different but similar...
Some years ago I bought a new Porsche and was working within a small commute, mileage wasn't that important. Then I changed contract and found myself doing 100 miles per day 5 days a week commute = 2K per month. So depreciation suddenly became a factor.... I opted for a new fiesta at the time on a 2 year lease which over the two years cost me £5K with a service plan etc.
Brand new reliable car with nothing to worry about for 2 years, which easily cost less than the depreciation on the Porsche.
I'm not saying that is an option for you, but for me it worked well.
Some years ago I bought a new Porsche and was working within a small commute, mileage wasn't that important. Then I changed contract and found myself doing 100 miles per day 5 days a week commute = 2K per month. So depreciation suddenly became a factor.... I opted for a new fiesta at the time on a 2 year lease which over the two years cost me £5K with a service plan etc.
Brand new reliable car with nothing to worry about for 2 years, which easily cost less than the depreciation on the Porsche.
I'm not saying that is an option for you, but for me it worked well.
Personally I can't see much point in buying another car to keep the mileage off the i4, at least with the i4 it's costing very little in charging, if you buy another car then its another set of running costs, fuel? maintenance, insurance etc.
Logically from a financial view you may as well keep running the i4 but if you want to buy another car then don't let logic get in the way.
Logically from a financial view you may as well keep running the i4 but if you want to buy another car then don't let logic get in the way.
First of all you can do whatever you want if you use man maths. I don't think the term had been invented when my dad used to say he was buying a new car to avoid having to replace the tyres or "it will need a new exhaust soon".
However if you want to balance the books...isn't your I4 fairly depreciated anyway? If not then do your swapping and changing now if you must.
The most cost effective option is probably just to run the I4 until it starts climbing the far end of the bath tub curve of repair costs, if it ever does. Pocket the difference and buy yourself a desirable weekend car when you have enough money saved. Swapping cars frequently is probably costing you a lot of money.
However if you want to balance the books...isn't your I4 fairly depreciated anyway? If not then do your swapping and changing now if you must.
The most cost effective option is probably just to run the I4 until it starts climbing the far end of the bath tub curve of repair costs, if it ever does. Pocket the difference and buy yourself a desirable weekend car when you have enough money saved. Swapping cars frequently is probably costing you a lot of money.
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