Car Choice: No need to borrow when there are bargain bangers about
After previously living one mile from work, Andrew Knox now has a 60-mile round trip. He tells me that he intends to borrow against his offset mortgage, and pay off the interest and expected depreciation each month. He is budgeting on £250 per month for total purchase and running costs. He needs a reliable and safe hatchback.
Sunday 31 May 2009
A car for the head
As I often point out, depreciation is the biggest single cost of motoring – and that includes fuel. I don't like the idea of Andrew borrowing money when he should be embracing Bangernomics. I think Andrew, recently redundant, should save up and buy a cheap petrol car rather than borrow, and then worry about the monthly running costs. For instance a Toyota Corolla is an incredibly cheap and reliable car. For £795 he could get himself a 1998 1.3GS with just 54,000 miles and two previous owners. It has five doors, is in a low insurance group, and I predict that apart from fuel Andrew won't spend any more each month. Indeed, the 1.3 engine will return 41mpg, which is good enough for the commute. It's an ugly but hugely practical car.
A car for the heart
I know that Andrew wants a decent sound system, so I will make a CD player the bear minimum in his car for the heart. Again, I don't want Andrew to be locked into a monthly repayment cycle when there are so many great options out there. Another underrated and overlooked model is the Seat Cordoba, which has the advantage of proven Volkswagen technology wrapped up in a fairly boring saloon body. It is a solid and reliable package, which is perfect as an undemanding small family car. I looked at quite a few below £1,000 and although I could find models equipped with cheap luxuries such as air conditioning, there were only ancient radio/cassettes in the dashboard. However, you can buy new CD players for £50 so Andrew should not be too concerned. The smaller petrols will return around 36 mpg, while the noisy 1.9D will manage 48mpg. Starting at £695 there was a mixture of very clean petrols and diesels available. A 1999 example, with fresh MOT and a 1.4 engine that will return 38mpg seemed like a bargain at £695 and a brilliant new start for Andrew.
Life & Style blogs
What marriage would look like if we actually followed the Bible
Overly-controlling parents cause their children lifelong psychological damage, says study
What do the emojis on Snapchat mean?
Orthorexia nervosa: How becoming obsessed with healthy eating can lead to malnutrition
Men who buy sex share 'key characteristics' with aggressive sex offenders, study claims
Britain to take more refugees as Cameron bows to pressure after more than 250,000 back our campaign
Senior British politicians tell David Cameron: When dead children are being washed up on beaches – it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don't change Europe's attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Make your voice heard: Sign The Independent's petition to welcome refugees
- 1 What marriage would look like if we actually followed the Bible
- 3 The Chinese city where men have 'three girlfriends because there are so many women'
- 4 'Heartbreaking' Syria orphan photo wasn't taken in Syria and not of orphan
- 5 Orthorexia nervosa: How becoming obsessed with healthy eating can lead to malnutrition
£37040 - £43600 per annum: Recruitment Genius: The UK's export credit agency a...
£25000 - £27500 per annum: Recruitment Genius: This company provides a compreh...
£16800 - £19500 per annum: Recruitment Genius: Would you like to join an organ...
£25000 - £28000 per annum: Recruitment Genius: In the last five years this com...