So my current car costs £50 a week in fuel and seems to go to the garage for repairs about twice a year, it’s a Fiat 500X with 86k miles on the clock, a 66 plate, so should have a few years life left, I was planning to drive it til it dies, thinking that most economical. We’ve a few big bills/loans that end in a year, so was hoping it would last until then. However we also have solar panels and a battery at home. And oldest child is now 17, so days of big family camping holidays are now behind us. Only time we really need a big ‘family’ car is to go on holiday and those are possibly going to be 3 of us rather than 4 going forward.
So anyway I looked last night and I can get a Vauxhall Corsa electric car for about £10k, 2/3 years old with about 20k miles. I can get a fast charger for about £1000, and a loan for £8k for 4 years for about £200 a month, so the same cost as running my current car and after 4 years I’m better off. Corsa battery is guaranteed for 8 years or 100k miles and predicted to last 10-20 years.
Is trading in my car a no brainer?