changing car to reduce motoring costs...

M

moneycheck

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I am currently driving a 2.0 petrol car , which has €614 road tax per yr,
does avg 35mpg . (2007)

im considering changing it to a new diesel 1.6 car which is more economical and has the €104 road tax and cheaper insurance too.

the cost to change is 10000 euro, however by changing to this car i would be saving approx €2000 per year, in running costs, insurance tax etc.

any suggestions? or advice, is it mad to do, or is it better to stick with what i have now.
 
You will save 2,000 per annum, but you will lose additional depreciation on the new car. I believe it will take you 6+ years to recover the additonal 10,000 plus additional depreciation. It's not worth it IMHO and doesn't make financial sense.
 
I'd love to be in your position - my hubby bought a 5 litre Merc last year - saw the ad in the Sunday Papers - always wanted a BIG CAR - and now we're paying double what everybody else does for petrol, tax and insurance. At the same time, if we're in a collision, I suppose we'll come off better. Don't know how to measure the pro's and con's of this, but have to admit that driving the ML500 is like sitting in a very comfortable armchair, surrounded by viewing glass, and a really smooth ride! If you like the car, keep it - it's worth the additional charges!.
 
"You will save 2,000 per annum, but you will lose additional depreciation on the new car. I believe it will take you 6+ years to recover the additonal 10,000 plus additional depreciation. It's not worth it IMHO and doesn't make financial sense."

I the mean time, if you keep your existing car, it will cost you 2000 per annum more to run then the new car.
By changing you also get to make your contribution to cleaner emissions motoring.
Depreciation, its always going to be there. Cars are not an investment.
10,000 recovered in 6 years!
Seems like a no brainer to me.
Go for it.
 
Also meant to add.
Even if you keep the new car for 6 years, you will have saved over 3000 euro in road tax against your existing car.
I think mathepac needs to redo the maths.
 
You won't save 2k a year, more like 1k. Tax 250, insurance about 200 and maybe 15 mpg extra which won't work out as huge unless you do huge mileage. Any savings will be more than offset by the premium you will pay on what people see as an econical car. If you want to save money get a cheap 3l petrol like a 528.
 
Buddyg said:
You won't save 2k a year, more like 1k. Tax 250, insurance about 200 and maybe 15 mpg extra which won't work out as huge unless you do huge mileage. Any savings will be more than offset by the premium you will pay on what people see as an econical car. If you want to save money get a cheap 3l petrol like a 528.
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did you read the post? i will save €510 on annual road tax, (614-104=510 not 250) mpg will be far better than 15 mpg as you state.. the book figure on most 1.6 diesels is ABOUT 72MPG combined ( well the car im looking at is) im currently getting about 35mpg combined.

and the last bit amazes me, how could anyone advise after reading the first post , then advise to get a 528 which attracts an annual road tax of at least €1293 not to mention the more expensive service costs and also if something goes wrong with it then its mega money...also the 528 would drink way more fuel than what i currently have...


i smelll a troll
 
Sorry didn't see the new car part, was going by the old system. I'm sure you will be able to afford your 6K a year depreciation for a poverty specced car.


Ps. Good luck on that 72mpg, I've yet to hear of any car test that has achieved this.

and the last bit amazes me, how could anyone advise after reading the first post , then advise to get a 528 which attracts an annual road tax of at least €1293 not to mention the more expensive service costs and also if something goes wrong with it then its mega money...also the 528 would drink way more fuel than what i currently have...
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This is basically how 90% of this country thinks. Thanks to you all I get to drive great, powerful cars for a pittance. 110K selling for 15K after a few years.

Are you looking at a 72mpg Mini Cooper? Have a read of this!

http://www.autocar.co.uk/CarReviews/RoadTestsLiving/Mini-Cooper-1.6D/228916/
:D
Sadly, fuel consumption seems to be a let down. Mini claims 51.4mpg combined, yet in our hands the Cooper D Clubman managed just 34.0mpg.
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Buddyg said:
Sorry didn't see the new car part, was going by the old system. I'm sure you will be able to afford your 6K a year depreciation for a poverty specced car.


Ps. Good luck on that 72mpg, I've yet to hear of any car test that has achieved this.

This is basically how 90% of this country thinks. Thanks to you all I get to drive great, powerful cars for a pittance. 110K selling for 15K after a few years.


:D
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mini cooper jasus no..
if i did what you suggested then id be spending more on road tax, and servicing every year.

actually if you look at the golf 1.6 TDI its getting great reviews.. and what are you on about poverty specd car? and 6k depreciation.....

if i was buying a car like that then id buy it new end of.
 
Hi Moneycheck. You are currently spending 1000 euro per 10,000 km on petrol.
A 1.6 diesel would roughly lower this to 575 euro per 10,000km (at 5L/100k)
Thats a saving of 425 euro per 10,000km at todays prices.
Based on an average of 25,000km this is a saving of 1060 euro. On fuel alone.
With the tax saving this is 1570 euro saved.
Did you get an estimate of how much less your insurance will be?
 
This may not suit everyone, but, can show how savings can be made. After driving a 2009 Ford Mondeo, I have been driving Toyota iQ for the past few months the length of the M50 most days as well as around Dublin on business. I am amazed at the running costs: fully comp insurance €198 (full ncb) , car tax €104 p.a. , mpg of 60 to 70 depending on the pedal pushing! Much to my surprise, very nippy on the motorway and never bullied
out of the fast lane - can cruise at 120+ km no bother. Regularly takes three adults - two 6ft+ in comfort. I know everybody will be smirking at the name Toyota, but, the Japs have taken the Smart Car and Fiat 500 and done their usual trick in making their car better - the spec is unbelievable - all leather, ABS, everything electronic, heated seats etc! I'm giving the car to my daughter when I take another permanent job in the city centre as I'm very impressed with the safety, especially after always having had big cars.

After driving 2L Ford Mondeos new in 2008 And 2009 and before that Volvos S80 and 940 s, the difference in my pocket is extremely noticeable!
 
Chimo said:
"You will save 2,000 per annum, but you will lose additional depreciation on the new car. I believe it will take you 6+ years to recover the additonal 10,000 plus additional depreciation. It's not worth it IMHO and doesn't make financial sense."

I the mean time, if you keep your existing car, it will cost you 2000 per annum more to run then the new car.
By changing you also get to make your contribution to cleaner emissions motoring.
Depreciation, its always going to be there. Cars are not an investment.
10,000 recovered in 6 years!
Seems like a no brainer to me.
Go for it.
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"cleaner emissions" Lower co2 emissions yes, cleaner far from it!

Diesel particulates both visible and invisible are severely mutagenic and very damaging to human health.

Keep in mind the higher servicing costs of a diesel engine over it's lifetime, it really only makes sense if you are doing a high mileage
 
Merner

Please explain your remarks

far from cleaner
You can kill yourself with the exhaust of a petrol engine carbon Monoxide not with the exhaust of a diesel.

Higher service cost of a diesel.

Diesel cars have the same service intervals as petrols

I would take a 2.0 tdi over a 2.0 petrol any day.
The torque makes the TDI more driveable. Less gearchange Safer overtaking.
The TDI will go further without fill up
The TDI will have cheaper tax
The TDI will be easier to sell 2nd hand.
 
Buddyg said:
This is basically how 90% of this country thinks. Thanks to you all I get to drive great, powerful cars for a pittance. 110K selling for 15K after a few years.
Click to expand...

To a certain extent I do see your point to a certain extent Buddyg but having said that €1293 is a hell of a lot of loot to shell out for motor tax whichever way you look at it and I don't see why its any wonder it puts so many people off. Also though chances are a car costing that kind of money is going to cost a fortune to insure and chances are many under 30's may not even get quoted on it I'm sure. Hence the market for these motors is immediately limited in that regard also. Furthemore I do know that if anything goes wrong with the large Mercs and BMW's they can often cost an absolute fortune to repair. You could be quite easily out another 15K if you get a run of bad luck.

On the diesels I do think that it is somewhat of a widely held misconception that they are automatically more economical and hence always a great buy. I know people who are driving not much more than 12k or 15k miles a year in a diesel and think they are saving :rolleyes: To consider a 1.6 litre petrol and a comparable 2.0 diesel of the same model I reckon that realistically you would be needing to do a hell of a lot more mileage to claw back that extra annual road tax cost. No doubt the tables have turned somewhat in this regard with the new motor tax rules being introduced but also bear in mind that modern diesels are precisely engineered and high tech machines. Any savings made could quite easily be lost again in one foul swoop with a repair bill on a turbo or dual mass flywheel for example.
 
Hi, I was in your position last year, 2lt petrol car, high tax, 30mpg, changed to a diesel, tax is now €156 pa, getting 55-60mpg, so have made savings on car tax from €614 to €156, fuel costs €60 down to €25 per week, car ins due next month expect it to be down at least €150-200, and basic service is €150 as opposed to €350.
 
We picked up a golf 1.6tdi under scrapage, cheap to tax, new and extremley Eco. Happy days.

The road tax regime in the country at the moment is anti cars older than july 2008 and large engine sizes. Your insurance would also reduce. I still would not sacrifice the safety of a bigger car (regardless of NCAP) to go to a smaller car if doing a fair amount of mileage IMO.
 
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