Costly car to cheaper car

Mousewar

I don't know an awful lot about cars so I wondered if the kind folk here might give me some advice.

I currently drive a 05 Mazda 6. With one salary and a small family to support it's proving very costly to run. Tax is nearly 700 a year which kills me every January. Insurance is due next month and I'm dreading it after all the news about it this year. It was 500 last year for me and my wife as a named driver. I'm wondering if the fact that the car is older and with a bigger engine going to cost me. And she's thirsty too. Costs about 85 to fill the tank which I do roughly every 2 weeks and it gets me about 700km. I don't use the car to commute. It's mainly just short journeys to shops and ferrying kids.

So I wanted to change it even though, aside from the cost, it's a good car and runs well. But I'm not sure where to start. Obviously I'd like to spend as little as possible, maybe trade the Mazda for something of a slightly newer vintage for a couple of grand on top. But what am I looking for? The priority is cheap running costs. I know I need a smaller engine for lower tax (assuming it'll be a pre 08 car which budget wise, it'll probably have to be). But what about fuel consumption? What would be good tips for the 06 or 07 years that are cheap to run cars incl, tax, fuel, and insurance?

I reckon 3k plus the mazda would be my top budget.

And the ultimate question, does it actually make financial sense to switch or should I just stick it out with the mazda till she gives up?

bazz26

Problem is that even if you spend 3k to trade up, you still have to pay slightly less tax and insurance on the newer car. So do some maths as to how long it take you to start saving money on running costs when you take into account the money you have to spend to get into a newer car.

ted1

A second hand Nissan Leaf might be the job for you.
Low tax and insurance, no petrol and charging isn't to expensive

737max

petrol mazda 6 has generally been as reliable as you could hope for. that has been my experience of them. the next car you get might not be so trouble free.

bazz26

ted1 wrote: »

A second hand Nissan Leaf might be the job for you.
Low tax and insurance, no petrol and charging isn't to expensive

Will you get a Leaf for 3k max plus an 11 year old Mazda 6 though?

ted1

bazz26 wrote: »

Will you get a Leaf for 3k max plus an 11 year old Mazda 6 though?

No but with the savings on petrol , tax, service etc you'll make savings.

85*26=2,210 charging say 210.
Leaves 2,000
Tax saves about 600 a year
No service saves about 150 a year.
Say an average you spend 200 a year maintenance on an ICE car, Timing belt , clutch , MF, cool packs, exhaust etc

So that's about 3k. You'll save a year.
Do take your 3k add 3k in savings and then 1k for the car and you are up to 7k. Get a car for 10k
And then at the end of your two you are saving a couple of k a year

Idbatterim

that isnt taking into loan interest if applicable and depreciation. I am assuming that mazda 6 is worth very little at this stage...

as you have a family, I assume you need something of a decentish size, like a compact minimum...

would a 1.5 prius be a potential option? 1.5L so tax is €413. or from 2008 on, the motor tax is E190...

http://www.carzone.ie/used-cars/toyota/prius/used-2008-toyota-prius-1-5-hybr-dublin-fpa-3984117858455702726

Mousewar

737max wrote: »

petrol mazda 6 has generally been as reliable as you could hope for. that has been my experience of them. the next car you get might not be so trouble free.

It has been incredibly reliable. Never given me a moment's trouble in six years now. I suppose I should factor that.

ShadowHearth

In most cases downgrades like this leaves you costing more.
That mazda won't get much trade in value and garage will make sure you get even less. If you cam afford being without car for a while and try shift your one privately, it would make better value.
Saving less then 1k a year between tax amd insurance is not going to be much of a saving if you will need 3k to get it in the first place.
You can't get perfect car, chances are the new car you will get, will need work to be done. Who knows what reliability will be with it too?

My advice: just suck it up, save up more money, drive mazda for now. It looks reliable so far.

Magown3

You can't put a price on reliability.

Gingganggooley

You should consider the option of a new car. It some respects, it has never been cheaper and although they're not for everyone, PCP's allow you to rent a new car for a monthly fee. It's just work looking at and doing the sums as it might surprise you how close you are as there are some good offers available.

ted1

Gingganggooley wrote: »

You should consider the option of a new car. It some respects, it has never been cheaper and although they're not for everyone, PIP's allow you to rent a new car for a monthly fee. It's just work looking at and doing the sums as it might surprise you how close you are as there are some good offers available.

PIP is a con stay well away from it.

Idbatterim

op, just saw the below, which may be of interest. My opinion is, IF you are going to change cars, with the intention of "saving" money, its pointless doing it for a few cents, Id stick with what you have or if a leaf can legitimately be brought in for 5,500 as per the below link, it may be worthwhile...

http://www.boards.ie/vbulletin/showthread.php?t=2057664199

traco

The devil you know and all that. The 6 might get 2k private if trading it'll be 1k I imagine, chances are you won't get better than what you have.

If the 6 is reliable and its only running costs then you could be better sticking with it, don't forget to factor in depreciation in spending money to get something newer as it will loose more value than one thats already worth nothing or very little.

All cars have running costs and in reality its the fixes outside of regular stuff like services and tyres that really hurt, the routine stuff can be budgeted. So if you know it and its reliable, it might be a better option than buying somebody elses problems.

Idbatterim

you know, I am one advocating that it would probably take 2-3 years minimum to see any saving on changing. However, if you go to something like a leaf, ted 1 calculations start to really rack up over the years... Again assuming you go for a leaf, as there would be dramatic savings over time, i.e. several years...

draiochtanois

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Atlantic Dawn

If it was me I would hold on to it until it needs a major job on it like a gearbox, the savings just don't add up spending thousands more to save a few hundred a year.

draiochtanois

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traco

ted1 wrote: »

A second hand Nissan Leaf might be the job for you.
Low tax and insurance, no petrol and charging isn't to expensive

ted1 - might actually have a point here with the leaf based on this thread below although I'd be coming from a slightly different angle. From first few pages you might actually get a secondhand one for very little.

It would seem that their second hand value is really questionable so if an older 24kW be OK range wise for you it might be worth checking out and making a stupid offer on one.
http://www.boards.ie/vbulletin/showthread.php?t=2057660283
You could then sign up with gocar if you need something for longer trips if required.

Mousewar

Thanks for all the replies. I guess I'm better off sticking with the mazda for now. The Leaf sounds interesting but I wouldn't know what I was doing there at all. Appreciate the help.

bmwguy

I have never been able to make the maths work on changing my car to a newer, more fuel efficient, lower tax car. My car is an 04 2.5l engine doing approx 28mpg average and costs 1080 to tax per year. Expensive in anyone's language.

However, due to depreciation on newer cars, I can't drive for cheaper overall.

Potential fuel savings on a more fuel efficient one at my mileage (even if the fuel bill was cut in half, but I don't believe anyone is getting 56 mpg on the same driving as me) and tax savings only amount to about 1700 a year. Factor in depreciation on a newer car and I would be 3 years to break even on even spending 5 grand.

It rarely makes sense financially, plus I happen to like my car!

traco

Here's a link to a spreadsheet I did up before I changed cars. I looked at all the options out there and I do big miles.

You can plug in the numbers yourself and have a play but depreciation is the big factor. In the end I jumped from a 97 VW TDI with 300k miles on it as it failed the NCT for corrosion on rear wheelarches. Jumped to a 10 Skoda Superb and I intend to keep it long term as thats the only way to minimize the cost of ownership.

The only number to look at is cost per km, thats is your true running cost number.
https://dl.dropboxusercontent.com/u/32111526/OwnershipCostComparioson.xlsx

draiochtanois

This post has been deleted.