New car time - EV PCP deals?

Amraam said:
Yeah that's it, I don't drive much, and that's a risk with PCP/PCH... I do not know what mileage I'll be doing in the new job. About 1/3 of the commute there and back, but I may be driving between sites a lot more.
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That's only a "risk" with PCH. With PCP you never really "hand the car back" - you just sell it privately and clear the finance, or you part exchange it. You'll either have equity because you've done less than you said, or the market has performed better than expectations; or you pay the market difference. Worst case scenario you pay the mileage fine, but even that is normally quite minimal.

Edit: and if work is paying you 45p/mile, make hay whilst the sun shines... or at least that's how it used to be with old pricing lol.
 
dLockers said:
New MG ZS is only £359/mo with £6k down - that's only £24k/4 years or £6k/year. Not sure what folk are expecting for a brand new £34k car. I think @Journey has already done the maths on the net saving - - but price in your flexibility, I think you said 4 years is a long time and you'd be itching to change.

It is also a Chinesium car, so not sure how the interior will feel. Probably not far off your Tesla but with way less toys I imagine :p

The thing is, 10k miles isn't really that much - a decent Ford Focus will give you 52mpg (list) and can be had for a much lower cost.
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So it'll only be worth £10k in 4 years time? That's horrific depreciation or a bad deal. Not sure which.
 
To be honest electricity is so expensive nowadays I am not even sure EVs make sense, unless you have the full complement of solar. I guess it depends on the comparative petrol car and how much $$ you pay for that.

There should be a simple calculator for this really...
 
Amraam said:
According to TeslaFi, I've spent £1200 doing 21000 miles. I didn't have TeslaFi since day 1 though; I signed up about a month in I think, but it gives a decent idea. That's just under 6p per mile. Dread to think what that would cost in petrol now.

21000 miles would cost £3683 assuming 45mpg according to here: https://www.fleetnews.co.uk/costs/f...ded&PencePerLitre=173.63&Mileage=21000&Mpg=45
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2 quid a litre at 44mpg is only 4317£ for 21k miles. So the saving isn't astronomical given the trade offs/massive initial outlay.
 
Just get a bank loan with Tesco (or other cheap lender) - with Tesco at 3.2% borrowing £20k over 5 years is £360.74 a month and the total cost of borrowing is £1644.40. Then buy a frugal Ford Focus or similar for the £20k mark. Or if you have decent credit then get a 0% card and do a bank transfer. Tesco also allow overpayments without penalties and you can either reduce the term or reduce the monthly payment. Doesn't have to be £20k and doesn't have to be a Focus. A Golf would be decent, as you can get 2 years warranty, servicing and MOT from VW for ~£30 a month or so.
 
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Amraam said:
I'm struggling to understand the balance. I keep bouncing between the ideas of a new (in stock) PCP/PCH deal at the value of £30k, or just buying a crappy car. Problem is, crappy cars are crappy prices. I've seen Fabias with 100k+ miles for sale for £10k. It's bonkers.
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I looked at a Kona PCH that seems semi decent, if you are still interested. Says in stock (delivery up to 4 weeks normally), and it is the 1.0 TGDi 48V MHEV SE Connect 5dr, with a 10k mile per annum, only for 2 years on the deal. It's a 3+23, which means you pay the equivalent of 3 months payments upfront, monthly payment is £253.37, with the first month being £760.11. Excess mileage is only 7.03p (inc VAT) so you could actually go for the 8k deal if you don't 100% of the time do 10k per year. Total cost for the car over 24 months is £6,587.62 plus a small £99 admin fee, deal is through ZenAutos who are actually owned by Zenith one of the biggest leasing providers in the UK. I'd probably call them if interested to see what stock colours they have if you like to chose.
 
Can't help but feel that priorities are a bit askew for someone who doesn't know what mileage they'll be doing for work. The miser in me can't help but feel that any PCP or lease option is literally just throwing money away...

Hand the Tesla back, buy a sub 5k car to make do until you know what position you'll be in.

Older cars are not a curse. Plenty of people do plenty of trouble free miles year on year with older cars, only worrying about the cost to fill and service. No monthly payments, and no depreciation worth losing sleep over.

The NHS and public sector salary sacrifice has really spoiled people and ruined people's expectations of cars. In a normal world those lease deals would be way out of reach for the majority.
 
Amraam said:
God this is a nightmare. It's scary how expensive everything is becoming.

I'm not sure how to find something that isn't a high mileage rust bucket or costs £500 a month.
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Modern cars can do plenty of miles perfectly fine without rusting to bits. Get something older, put a bit of money aside for maintenance, pocket the difference.

If you want the new car smell though, open your wallet.
 
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