Thank you all for very valuable comments – truly appreciated.
Finance
- Although I explicitly called out inflation zero in my assumptions to simplify the calculations, you’re absolutely right – if I pay myself I lose interest, if I take a loan – I must to accommodate its costs.
- Weak economy means weak pound, which in turn means more expensive import, which again will push inflation higher.
- So I accept I need to include the lost of interest I could receive, but I think because of high inflation (my money is on steady 3.5% pa) it is insignificant.
Obviously I could be wrong, although normally I am very good at those assumptions.
Insurance
- I went on Compare The Market website and the cheapest quote was from Admiral for £1,120. I live in Hampshire and I don’t think we have high crime rates in our area.
Taxes
- I haven’t had a car out of Motability for many years, but I think disable person could be exempt from the annual road tax. I hope it is still the case.
Loan
- @Glos Guy I loved your idea very much – was it PCP you took out and paid off a month after? Do you remember (roughly) the wording in the contract which allowed you to get out?
Running Costs
- Tyres – I know I will end up with 4 replaced during the period.
- Breakdown – good call. Will need to check, but I think it is covered for three years.
- Warranty – it comes with 5 years or 60K, which I will finish by the end of 3rd year, so I will need to count in an extra year of Extended Warranty.
- In the UK I agree it is expensive to charge outside your home. In my case I need to use public charges (despite my high mileage) 8-10 times a year. The HUGE disadvantage of Jaguar is that their charging rate is terrible in the modern standards – 104kW. Same Skoda 85x offers 175kW. But in reality it drops as the charging continues, so eventually, at my age, I won’t feel it: every couple of hours to stop for the loo whilst charging not a bad idea 🙂
Sent from a mobile device.
Apologies for briefness and spelling mistakes.
Motability Skoda Enyaq SportLine 85x April 2024 (unhappy customer - Ombudsman pending)
Motability Mazda CX-60 PHEV July 2023 (unhappy customer - early termination on mechanical grounds)
Motability VW Touran Family Pack May 2019 (happy customer)