Financially savvy minds needed!

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So my private hire mk3 Mondeo has now cost me over £3,000 in repairs since January 2012 and I'm at the point of walking away and buying something else.

My mechanic is ex-Ford master technician and he's recommended I buy a mk1 Focus 1.6 petrol estate as a daily hack as they're very reliable and cost buttons to fix when they do go wrong. He also mentioned about the possibility of converting it to LPG. Trouble is, the car will be doing roughly 70,000 miles a year and I have absolutely no idea how much installation costs will set me back and how well it would cope with such high annual mileage.

I've worked out that, at current fuel costs and consumption (41mpg), my Mondeo uses just over £11,000 in diesel every year but things keep going wrong regularly so running costs are much higher than that. A 1.6 Focus petrol estate would return around 35mpg in a similar setting and would cost around £12,500 in fuel annually.

I have little knowledge of LPG so I'm wondering how much I'd roughly be looking at in terms of fuel costs over 70,000 miles if I bought a 1.6 Focus and converted it. I understand that with these systems comes the possibility of further faults but I'll look into that later so ignore any increases in running costs and potential failures or repairs until I establish how much of a saving could initially be made.

Any thoughts/experiences to share? Is it worth it?
 
Yeah, it is high. I guess I'm just fed up of diesels and the ridiculous repair bills that come with them.

I'm just not sure there are any realistic alternatives.
 
Surely any car doing 70k+ miles is expected to have a few things fixed along the way.

Especially a Mk1 Focus, that is like 10 years old?
 
Can you clarify, are you a private hire driver?

If so do your customers really want to be transported around in an 11-12 year old Focus? Do you want to spend your day in an 11-12 year old Focus?
 
Surely any car doing 70k+ miles is expected to have a few things fixed along the way.

Especially a Mk1 Focus, that is like 10 years old?

Possibly, although it is a far more basic engine than the 2.0 TDCi lump in the Mondeo.

I'm not begrudging a few bills along the way, that's expected, but £3,000 in a year is a lot of money for repairs even taking that mileage into account.
 
I'm not begrudging a few bills along the way, that's expected, but £3,000 in a year is a lot of money for repairs even taking that mileage into account.

It's actually 4.2p a mile which if you did average person mileage works out at about £428 a year.

If you wish to do the equivilent of 7 years driving for most people in a single year then frankly any used car - especially one thats old to start with - is going to require serious money spending on it.
 
I would avoid LPG at that mileage. What sort of budget do you have? I would recommend some sort of warrantied x20d BMW diesel with that mileage, but what you'll gain in repair bills, you'll lose in tragic depreciation.

If you can get an AUC 320d for sub-£10k and keep the warranty going, that might be your best bet.
 
[TW]Fox;23833871 said:
Can you clarify, are you a private hire driver?

If so do your customers really want to be transported around in an 11-12 year old Focus? Do you want to spend your day in an 11-12 year old Focus?

That thought had crossed my mind, yes. There are far worse private hire cars knocking about around here than a mk1 Focus so I doubt my customers will be too bothered, but I've grown to appreciate a quality interior since buying my E39. Whether I'd be able to put up with a mk1 Focus I really don't know.
 
Skoda Octavia's are very popular round here. I know an airport company that have several at well over 300k.

I put 130k on a fabia and only needed an alternator belt (apart from normal servicing)

Or swap your car every 12 months and take a bit of a hit with depreciation
 
But he wants something reliable, low maintenance, and something with which he went put off clients by arriving in a clapped out nail?

He also need not keep it 3 years.
 
[TW]Fox;23833930 said:
Over the course of 3 years he will put 210k miles on it. It will be worthless, so effectively his depreciation is almost the entire value of the car!

Not to mention the fact that no one wants to buy an ex-taxi even if it did retain some value!

My sensible head is telling me to keep ploughing money into the Mondeo as it's easier but I can't help thinking I might be better off with something else.
 
He also need not keep it 3 years.

That'll cost him even more if he changes it sooner as he'll realise higher depreciation.

Lets assume for the sake of argumenet Car A drops £8k in Year 1, £6k in year 2 and £6k in year 3. A fairly beleivable depreciation profile given his mileage. Infact year 1 depreciation is probably steeper even than that.

Buy a new one each year: £8k a year depreciation
Buy a new one every 2 years: £14k depreciation, so £7k a year depreciaton
Buy a new one every 3 years: £20k depreciation so £6.3k a year depreciation

The longer you keep it the lower the depreciation per annum, averaged over the ownership period.
 
[TW]Fox;23833964 said:
That'll cost him even more if he changes it sooner as he'll realise higher depreciation.

Lets assume for the sake of argumenet Car A drops £8k in Year 1, £6k in year 2 and £6k in year 3. A fairly beleivable depreciation profile given his mileage. Infact year 1 depreciation is probably steeper even than that.

Buy a new one each year: £8k a year depreciation
Buy a new one every 2 years: £14k depreciation, so £7k a year depreciaton
Buy a new one every 3 years: £20k depreciation so £6.3k a year depreciation

The longer you keep it the lower the depreciation per annum, averaged over the ownership period.

Then you got to think about the longer you have it, the more likely it will need more money spend on repairs.
 
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