Which stopgap car for £500 per month ownership budget?

wyx087

wyx087

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I need a stopgap car. The car will stay for no longer than 3 years.


If I have monthly budget of £450 to £500 (excluding insurance) for the next car, while spending less on fuel (going hybrid) and fixing the car, I can get a much more modern car. The next car MUST have adaptive cruise control (55 of my 60 mile daily commute is on motorway), I’d like as much autonomous driving capability as possible. The car itself also must have rear passenger doors and 5 seats and enough boot space for baby buggy, due to addition of 3rd member of family in 9 months. Keep in mind the deposit must also be factored into calculation, (eg £1000 deposit + £300pm or £8000 deposit + £105pm are the same. I’m looking at cost of deprecation, not monthly payment. Dealers get really mad when I do this)



My current 56reg Mercedes C class C220 CDI sportcoupe costs me £400 per month, that’s including everything (depreciation to private sale value, road tax, servicing, fixing, and fuel) but except insurance. MOT over 3 years of my ownership tells me I drive 16,000 miles annum, I know that costs me £2100 in fuel. Yearly servicing cost average to be £676 due to suspension fixes. Luckily powertrain had been really reliable on this car. This is my first diesel, personally I feel the turbo laggy, smelly and loud diesel is not for me.

Endgame for me is spending up to £39k of my savings on a Tesla Model 3. I’ll use it for as long as possible. Traditional car manufacturer’s idea of selling a car and no future firmware updates bugs me. Tesla is currently the only company offering over the air firmware updates. So Tesla is the only car I’m willing to keep for prolonged period. Unfortunately I need a stop-gap car before Model 3, because I’m not reservation holder and I doubt they will be available to the public before 2019.

I looked at the BMW i3 end of last year, they had 0% finance offer and a REX model would cost £350 per month with £2k deposit. With similar fuel and servicing budgeting as Model 3, it would be affordable. Unfortunately 4 seats and lack of boot space received a veto from the wife.

I looked at new Toyota Prius, but depreciation of a new one is out of my price range, I don’t think older generation Prius have adaptive cruise? I also looked at Hyundai Ioniq hybrid, but because no dealer can get the car in March, the new tax scheme pushes it out of reach. Dealers also got mad due to my calculation method. I don’t feel confident in my commute with the Ioniq EV, it only has 110 miles real world range, and I wouldn’t feel comfortable drive anywhere else if needed (eg. Occasional evening Stratford shopping needs 98 miles). I also need at least 150 miles motorway range to visit my parents.



So what cars would you recommend? Requirements are:
- Adaptive cruise control is a must, preferably able to follow a car in stop-go traffic
- 5 seat 4/5 door family car with large-ish boot
- £10000 to £12000 3 years car depreciation budget for 16000k annual mileage
- £1600 annum for petrol in 55 mpg car (compared to £2100 annum for my 42mpg)
- £300 servicing budget
- Above works out to be £440 - £490 per month
- No diesel!! No SUV, I like low, coupe driving position.
- Based on these, I think it has to be a hybrid?
- Or £15000 3 year depreciation budget for 200 miles EV?
 
Haha, you are right, I should ask this on a motoring forum. The wall of text didn't really help on a photography forum.

No, I've not because I'm not registered with any.

Which motoring forum would you recommend? I'm not interested in petrol-head forums that will dismiss any hybrid or EV talk.
 
wuyanxu said:
Which motoring forum would you recommend? I'm not interested in petrol-head forums that will dismiss any hybrid or EV talk.
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Piston Heads seems to take EV/hybrid discussions seriously.

You could try Honest John, but it gets a bit ranty.
 
I agree start checking out lease options there are some deals to be had. I had a Saab convertible for £150 a month for 2 years followed by an Audi A4 estate for £99 for 3 years. 0nly out of leasing when I fancied a Discovery and then a Volvo V70 for practicality. There were some recent deals on the new Mitsubishi hybrid which was quite temping as it would almost pay for its self out of the money I saved on fuel.
 
Thanks all. For leasing, is that shouty website http://www.lingscars.com/ a good place to start? Their prices doesn't seem very good TBH.

tarric said:
If you just want something to get you through the next 3 years or so have you thought about leasing.
You could get something like this http://www.nextgreencar.com/view-ca...tion-cvt-petrol-hybrid-continuously-variable/
for around £425-£450 a month it might even come in around £500 with maintenance.
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£450 a month is too much for me, unless it is powered by electricity. Monthly cost of fuelling electric car should be £42, whereas fuelling using fossil would cost £142 (assume 55mpg, current pump price). My budget is up to £500 including running the car. Also, the Lexus IS doesn't have adaptive cruise, I did look at this model a year ago when the in-laws are coming from overseas.

PINNACLE said:
I agree start checking out lease options there are some deals to be had. I had a Saab convertible for £150 a month for 2 years followed by an Audi A4 estate for £99 for 3 years. 0nly out of leasing when I fancied a Discovery and then a Volvo V70 for practicality. There were some recent deals on the new Mitsubishi hybrid which was quite temping as it would almost pay for its self out of the money I saved on fuel.
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Current parallel hybrids like Mitsubishi, Golf GTE, BMW 330e, Prius plug-in are not really suitable for me unfortunately. I commute 60 miles a day, their electric power can only do "up to 30 miles" at best. Only plug-in hybrid I feel able to save me money would be BMW i3 REx and Ampere, EV mode can cover my commute, but both are 4 seats.
 
Have you considered a Leaf or Zoe? - spec'ing a car for the 2% of occasional long distance trips vs the 98% commuting means a big car which flatters the ego, but buying a commuting/shopping car and hiring something bigger six weekends a year is going to be cheaper. Particularly if it's a stop-gap waiting on your turn coming up with Tesla.

Go register on PH..
 
Nawty said:
Yeah, if I was looking for a new car to keep for 3 years I'd probably lease.
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I would expect on a 60 mile/day commute leasing would work out very expensive or maybe you'd struggle to find a lease at all

Works well if you're doing a lower millage though
 
I did some quick maths, both using 15000 annual mileage, I usually drive over 16k, so I'll have to take the extra miles on the chin, factor the cost in by saving up for the payment over the years.

It's based on Hyundai Ioniq hybrid mid-range trim, the car has adaptive cruise as standard on all trims.

Lease on LingsCars vs best PCP quote I got from carwow
£715.72 £3,500.00 deposit /first payment
£267.86 £250.00 per month
£3,452 £4,1667 yearly cost
£10,358 £12,500.00 total cost 3 years

Quite a big £2000 difference, how come leasing is so much cheaper?
 
Alastair said:
Have you considered a Leaf or Zoe? - spec'ing a car for the 2% of occasional long distance trips vs the 98% commuting means a big car which flatters the ego, but buying a commuting/shopping car and hiring something bigger six weekends a year is going to be cheaper. Particularly if it's a stop-gap waiting on your turn coming up with Tesla.

Go register on PH..
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It won't get past the wife unfortunately. I've only managed to convince her 200+ miles EV range is enough for our family car. For her car, if she decides she need one for town run-abouts, or if we were to buy now for school runs, definitely a Zoe.

boyfalldown said:
I would expect on a 60 mile/day commute leasing would work out very expensive or maybe you'd struggle to find a lease at all

Works well if you're doing a lower millage though
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That was my thinking initially, but looking at the Ioniq cost on LingsCars, it seems very manageable. Other companies like vanarama doesn't give a price, I am sure their headline From price is probably 5000 miles a year to achieve attack punters.
 
wuyanxu said:
That was my thinking initially, but looking at the Ioniq cost on LingsCars, it seems very manageable. Other companies like vanarama doesn't give a price, I am sure their headline From price is probably 5000 miles a year to achieve attack punters.
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Cool. Parkers do a good leasing guide too. I bet they're doing the 5000 mile thing as you say

We lease ours and the penalties for going over mileage are stiff, we decided to lease for less hassle and deal with it being a bit more expensive (our lease covers everything but fuel) but TBH were not happy, it's not much less hassle and we won't bother again
 
boyfalldown said:
Cool. Parkers do a good leasing guide too. I bet they're doing the 5000 mile thing as you say

We lease ours and the penalties for going over mileage are stiff, we decided to lease for less hassle and deal with it being a bit more expensive (our lease covers everything but fuel) but TBH were not happy, it's not much less hassle and we won't bother again
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Anything in particular to look out for when signing a lease? May I ask what were the hassles that you encountered?

In my case, would people recommend leasing for 20000 miles pa and hand back with less on the clock or 15000 pa and save up for pay for the excess? Sorry, leasing is very new to me.
 
wuyanxu said:
Anything in particular to look out for when signing a lease? May I ask what were the hassles that you encountered?

In my case, would people recommend leasing for 20000 miles pa and hand back with less on the clock or 15000 pa and save up for pay for the excess? Sorry, leasing is very new to me.
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You need to work that one out when you see payments. Ours is 8p mile over so it really racks up.

Ill answer your other question when I've a bit longer tonight
 
Have a look here https://www.nationwidevehiclecontracts.co.uk/ price very similar and do 17500 mile option.

On my second lease first through ford direct as prices were very similar and now with these as ford could get anywhere near for price, happy with service so far, on a full maintenance package.
 
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wuyanxu said:
I did some quick maths, both using 15000 annual mileage, I usually drive over 16k, so I'll have to take the extra miles on the chin, factor the cost in by saving up for the payment over the years.

It's based on Hyundai Ioniq hybrid mid-range trim, the car has adaptive cruise as standard on all trims.

Lease on LingsCars vs best PCP quote I got from carwow
£715.72 £3,500.00 deposit /first payment
£267.86 £250.00 per month
£3,452 £4,1667 yearly cost
£10,358 £12,500.00 total cost 3 years

Quite a big £2000 difference, how come leasing is so much cheaper?
Click to expand...
The reason leasing is cheaper is down to vehicle residual value rates, vat and volume discounts from the manufacturer. PCP will normally try to calculate to give you a small deposit at the end, whereas leasing doesn't
 
wuyanxu said:
Thanks all. For leasing, is that shouty website http://www.lingscars.com/ a good place to start? Their prices doesn't seem very good TBH.



£450 a month is too much for me, unless it is powered by electricity. Monthly cost of fuelling electric car should be £42, whereas fuelling using fossil would cost £142 (assume 55mpg, current pump price). My budget is up to £500 including running the car. Also, the Lexus IS doesn't have adaptive cruise, I did look at this model a year ago when the in-laws are coming from overseas.


Current parallel hybrids like Mitsubishi, Golf GTE, BMW 330e, Prius plug-in are not really suitable for me unfortunately. I commute 60 miles a day, their electric power can only do "up to 30 miles" at best. Only plug-in hybrid I feel able to save me money would be BMW i3 REx and Ampere, EV mode can cover my commute, but both are 4 seats.
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Lingscars are great. I'm on my third lease with ling and would recommend her to anyone.
 
Mini Clubman on PCP? I have the JCW version which meets most of your criteria, but not the fuel. The 3 cylinder 1.5L Cooper may work, or the Cooper SD if you're into deseasils. Lots of room, and the Drivers Assistance pack gives you most of the other features you're looking for.
 
36 * £500 = £18000.

Thats a heck of a stop gap car. That would fund me a used BMW X5 no problem, and there will be leftovers after selling it.

How about Cayenne? That might fit the bill?
 
Read the OP. The £500 per month is to include fuel, not just the cost of the vehicle.
 
If it is to be a stop-gap then go leasing. I'm in a similar position and amongst my shortlist is the Ioniq @ £410 pm.

One thing I have found in the last ten days or so of research is that Ling Cars are shockingly expensive. DYOR.
 
Does it have to be a new car, how about a 1-2yr old Mondeo ex Ford company car. http://www.ford.co.uk/Approved-used...Xf8tUQ4iDtUH-_qHzrsvtSM0UuyEqadIMgaAj668P8HAQ.

Most are all fairly low mileage, they will have been refurbished back to as new condition and checked over, a 2yrs warranty regardless of age and if you go for a Titanium model they will have most driver aids short of fully automated driving. You can get these cars on Fords Options scheme (pcp) and they are currently offering £1000 deposit allowance if you take up the pcp finance on Ford Credit.
At the end of the 3yrs, just hand the car back (as you would if you leased the car) or buy It and sell it on yourself. Only drawback which may push your repayments up would be your yearly mileage. But there are practically fully loaded cars on the link from £17k upwards which would have been over £30k new.
 
ChrisHeathcote said:
The reason leasing is cheaper is down to vehicle residual value rates, vat and volume discounts from the manufacturer. PCP will normally try to calculate to give you a small deposit at the end, whereas leasing doesn't
Click to expand...

Ah right, so if I have zero plan of keeping the car, lease will make more sense. Otherwise handing back the key at end of PCP deal means I'll loose that deposit.


Jelster said:
Mini Clubman on PCP? I have the JCW version which meets most of your criteria, but not the fuel. The 3 cylinder 1.5L Cooper may work, or the Cooper SD if you're into deseasils. Lots of room, and the Drivers Assistance pack gives you most of the other features you're looking for.
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Not sure if it's fuel efficient enough. Minimise fuel spend is the only way I’m going to afford a newish car.


2blue4u said:
If it is to be a stop-gap then go leasing. I'm in a similar position and amongst my shortlist is the Ioniq @ £410 pm.

One thing I have found in the last ten days or so of research is that Ling Cars are shockingly expensive. DYOR.
Click to expand...

How come £410pm?? Most expensive I got is walking into the local dealer: £297 for a PCP Ioniq Premium, 3 years 15k miles pa with paint and glass scratch/chip insurance.

Agree, so far, for leasing, it seems Lings is expensive.


nilagin said:
Does it have to be a new car, how about a 1-2yr old Mondeo ex Ford company car. http://www.ford.co.uk/Approved-used...ed-Brand-Direct-Exact:Brand-Direct-Exact:ford direct:e:c:g:GOOGLE&gclid=Cj0KEQiAlsrFBRCAxcCB54XElLEBEiQA_ei0DKfPrIpC7Xf8tUQ4iDtUH-_qHzrsvtSM0UuyEqadIMgaAj668P8HAQ.

Most are all fairly low mileage, they will have been refurbished back to as new condition and checked over, a 2yrs warranty regardless of age and if you go for a Titanium model they will have most driver aids short of fully automated driving. You can get these cars on Fords Options scheme (pcp) and they are currently offering £1000 deposit allowance if you take up the pcp finance on Ford Credit.

At the end of the 3yrs, just hand the car back (as you would if you leased the car) or buy It and sell it on yourself. Only drawback which may push your repayments up would be your yearly mileage. But there are practically fully loaded cars on the link from £17k upwards which would have been over £30k new.
Click to expand...

I suspect it has to be a hybrid to get 55mpg in the real world to bring my fuel cost down.

But it does give me an idea, I wonder if Toyota or Hyundai do similar approved used PCP, I can wait a few months for the right Prius or Ioniq to become available on approved used. Key is I don’t want to spend the full cost of the car and then sell it. I will hand it back at the end. As long as the approved program does this, it doesn’t have to be new. But I must have adaptive cruise,
 
wuyanxu said:
I suspect it has to be a hybrid to get 55mpg in the real world to bring my fuel cost down.

But it does give me an idea, I wonder if Toyota or Hyundai do similar approved used PCP, I can wait a few months for the right Prius or Ioniq to become available on approved used. Key is I don’t want to spend the full cost of the car and then sell it. I will hand it back at the end. As long as the approved program does this, it doesn’t have to be new. But I must have adaptive cruise,
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There is currently 17 Hybrid Mondeos http://www.ford.co.uk/Approved-used-cars?eUsedCmd=vehicleSearch# on sale around the country through the Ford Direct programme. If you can find one in a Ford dealer near you, I'd recommend seriously go and have a look. My current car is a Ford Direct car, that was 1yr old when bought and it was an new condition, as they all go through a reconditioning centre to fix any problems including chips and scuffs in the paintwork. Plus they are generally cheaper than similar cars found in 2nd hand dealers or car supermarkets.
 
wuyanxu said:
How come £410pm?? Most expensive I got is walking into the local dealer: £297 for a PCP Ioniq Premium, 3 years 15k miles pa with paint and glass scratch/chip insurance.

Agree, so far, for leasing, it seems Lings is expensive.
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Because I was talking about leasing - not pcp. Electric Premium SE
 
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