Should we use avios or pay cash?

[dilutee]

Looking at a long haul trip in economy. Have several 2-4-1 vouchers but a limited but not small pot of avios.
Cash tickets are £500 each.
Avios tickets are 50,000 points and £250 each. So if an avios is worth 1p then the cost is £1,000 if we use a 2-4-1.

We aren't rolling in dosh. We would definitely use the points at some point in future, probably to upgrade or something.

I'm a bit confused...

Can you use 2-4-1 and avios on the same ticket?

If not, then no, because a 2-4-1 on cash will cost you £500 for 2, but with avios for 2 tickets it would cost you £500 plus the avios.

Avios change in how much they are worth too; here it would appear they are being valued at 0.5p (saving of £250/50000).

.... so assuming you can 2-4-1 on the avios tickets, the value to you of 50,000 of them for this transaction would be £250 per 2 tickets, so 0.5p each, which is pretty poor tbh. Average is about 1p, but it can be more.

I’d always use points as they keep downgrading the value

So assuming this is for 2 people your choice is:

£1000 cash

£500 plus Avios (using 241 but I assume you still have to pay the taxes on both)

The best way of getting value out of Avios is on upgraded tickets, but if you haven't got a goal in mind to get Avios up for premium economy or business class flights I'd probably just take the £500 saving now.

Your choice is £1000 cash or £500 plus 50K Avios.

That values the Avios at 1p each, which is a fair rate, but not great value.

Personally, I’d rather use them for long haul business upgrades, but it depends on your cash position. If the £500 saving would make a difference to you, use them. If not, save them for an opportunity to get better value for them.

It's not getting you the best value from the Avios. But if you never plan to use them to upgrade.. why not :)