Been working on the sums.
Currently have 06 Xsara Picasso. Paid up two years ago. Still in decent working order but needs a few bits and bobs. Hitting 100k but worried things will start to go wrong.
Current cost
£27 per month insurance
£11 per month tax
£100 per month fuel
Total £138 per month
Brand new Honda PCX 125cc
£79 per month cost of purchase (3 years)
£1.25 per month road tax
£20 per month fuel
£30 per month insurance
Total £130.25 per month
Now here is the master plan!
The Picasso costs £38 per month to keep if it doesn't move (insurance and tax). So, I keep it for emergency or bad winter use, so I am not stuck when the black ice descends. £38 is not a killer to have a car waiting there.
So cost for both vehicles is £168. I extend the life of the Xsara Picasso and keep it for another 3 years while I predominantly use the Honda PCX. I buy brand new so it is reliable, and in 3 years it'll still be worth about £1800 by the look of things. I can then get a big massive BMW car, or a motorbike, or whatever!
I had a look at Arnold Clark. To match this scenario, I'd have to take the £27 insurance and £11 tax as well as let's optimistically say £80 fuel away from the £168, leaving £50 per month for the car payment.
£50 per month over 36 months gets you nothing.
For £62, over 5 whole years, I could get this:
So, basically a scooter with doors and a roof. For a full 60 months.
It's beginning to look like a sensible idea, not just an excuse to drive about on a scooter and relive my youth!