Which EV would you get?

[Drago]

How does paying outright cost one interest?

Deprecation, pah. If ones buying a car to drive thats not a consideration. If deprecation is an issue then folk should,d be spending their mpney on fine art or faberge eggs.

 

[Gunk]

How does paying outright cost one interest?

It depends how much interest those funds are earning, I’ve calculated that it’s cheaper for me to lease a car than to cash in investments to buy it. However I get that a PCP or leasing isn’t for everyone.

 

[Pblakeney]

It depends how much interest those funds are earning, I’ve calculated that it’s cheaper for me to lease a car than to cash in investments to buy it. However I get that a PCP or leasing isn’t for everyone.

Over what timescale? During the lifetime of my cars the funds are replenished fairly quickly (simply save the PCP amount every month) then the investments run for a decade before the cycle continues.

 

[Gunk]

Over what timescale? During the lifetime of my cars the funds are replenished fairly quickly (simply save the PCP amount every month) then the investments run for a decade before the cycle continues.

Most finance deals are over 3 years. You can get below 8% if you shop around or 6% on a personal loan. most of my investments are making far more than that Over a three year period, however totally understand that for some there is a reluctance to take any sort of loan/credit and in the past Ì have bought outright, however not sure on balance it was the right thing to do.

I do a fairly high mileage so prefer a new/nearly new car every three years, Ì have tried buying used outright in the past, but the maintenance costs soon start to rack up when you’re doing 150000 plus miles a year.

 

[glasgowcyclist]

costs soon start to rack up when you’re doing 150000 plus miles a year.

Is that a typo?

That's over 2800 miles a week!

 

[Gunk]

Is that a typo?

That's over 2800 miles a week!

Yes, got a bit carried away with the zeros 🤦‍♂️ 15000 miles

 

[farfromtheland]

Chance to push my hobby horse here...
I wouldn't get an EV. Astra-Zeneca are working with farmers to roll out methane power now - this sort of industrial growth I like. Most petrol engines can have a fairly simple methane injection into the air intake. It's a win-win-win. Methane is here anyway, and a clean burn is better than leaving it in the atmosphere.
No need for dirty, short-life battery manufacture. New lease of life for existing cars.

 

[Pblakeney]

Most finance deals are over 3 years. You can get below 8% if you shop around or 6% on a personal loan. most of my investments are making far more than that Over a three year period, however totally understand that for some there is a reluctance to take any sort of loan/credit and in the past Ì have bought outright, however not sure on balance it was the right thing to do.

I do a fairly high mileage so prefer a new/nearly new car every three years, Ì have tried buying used outright in the past, but the maintenance costs soon start to rack up when you’re doing 150000 plus miles a year.

There is the rub. Finance deals are over 3 years whilst I buy a 2 year old car every 10-15 years.
And I used to do 25,000 miles/year while working.

 

[icowden]

There is the rub. Finance deals are over 3 years whilst I buy a 2 year old car every 10-15 years.
And I used to do 25,000 miles/year while working.

Doesn't have to be 3 years. We're looking at a 4 year lease on a Geely EX5 Ultra at the moment.

 

[Pblakeney]

Doesn't have to be 3 years. We're looking at a 4 year lease on a Geely EX5 Ultra at the moment.

...and?
The 4 year lease will still be more than I paid for my car. And the subsequent monthly payments vastly more than I pay for maintenance.

 

[Bonefish Blues]

And?

We're all grown ups. We understand that there are different options and individual circumstances and priorities and make choices accordingly.

 

[icowden]

...and?
The 4 year lease will still be more than I paid for my car. And the subsequent monthly payments vastly more than I pay for maintenance.

Yep. I'm choosing to pay about £5k a year for a car that I like. After 4 years I'll swap it for a different one.

 

[Rusty Nails]

...and?
The 4 year lease will still be more than I paid for my car. And the subsequent monthly payments vastly more than I pay for maintenance.

I sometimes buy the M&S blackcurrant preserve rather than the one from Aldi...My profligacy knows no bounds.

 

[BrumJim]

Back to my EV choice.

DS4 Crossback doesn't have the load space of my Renault Zoe. I'm not upgrading to a smaller boot.

MG ZS is better. MG4, even more so.

Although part of me is thinking of going for something super practical (Renault Kangoo) and super cheap (£1,500), saving and going for the e-Kangoo longer range when I can afford it.

But who is to say how much longer I will be dragging boy and kit around cyclo- cross events?

 

[BrumJim]

Was wondering if the PCP option through work was a good deal, since I get the tax back for an electric car. But currently looking about 50% more expensive, even with a conservative guess on current running costs.