I run my car for work and do around 30k miles total a year, of which just under 20k are business miles. Until now my firm has paid me 45p per mile for the first 10k and 25p per mile thereafter.
I ran a 2004 C180k W203 estate automatic which i bought for £7,800 5 years ago on 35k miles and sold last month for £1,400 on 197k miles, which by my reckoning cost me about £1,200 per year depreciation. It had been a perfect car, and I had considered keeping it, but rattles and burning oil told me it was about to change from an asset to a liability.
I replaced it with a 2011 W204 C220 125 SE estate auto on 40k miles which I got for £16k, but I'm now regretting this purchase (mainly because the COMAND satnav in this model only does partial postcodes, and my work involves visiting farms, so a general area is no good) I'm also disappointed that it only gets 50mpg, on a blue efficiency engine.
I reckon I can sell the new car and break even, and our firm has now moved to a £5,000 pa car allowance (less tax) and a mileage rate of 19p per mile.
I've looked at other cars that might give better consumption, and toyed with the idea of a 4x4 or a lease, but keep coming back to buying diesel estate automatic C Class merc.
My question is: How do I minimise the depreciation? Do I buy one at 5 years old on 40k and run it 2 years to just under 100k and then swap, or go for a newer one and keep it longer, or a cheaper high mileage one and keep it till it breaks?
I love how reliable the MB is, have a brilliant local independent garage, and had a 5 year warranty on the old one, but am told that you can't now get a warranty to take you past 100k miles.
I'm sure there must be clever people out there that have contemplated this, and it strikes me that depreciation is the critical factor when seeking to control my motoring costs
I'd welcome your thoughts - Many Thanks
I ran a 2004 C180k W203 estate automatic which i bought for £7,800 5 years ago on 35k miles and sold last month for £1,400 on 197k miles, which by my reckoning cost me about £1,200 per year depreciation. It had been a perfect car, and I had considered keeping it, but rattles and burning oil told me it was about to change from an asset to a liability.
I replaced it with a 2011 W204 C220 125 SE estate auto on 40k miles which I got for £16k, but I'm now regretting this purchase (mainly because the COMAND satnav in this model only does partial postcodes, and my work involves visiting farms, so a general area is no good) I'm also disappointed that it only gets 50mpg, on a blue efficiency engine.
I reckon I can sell the new car and break even, and our firm has now moved to a £5,000 pa car allowance (less tax) and a mileage rate of 19p per mile.
I've looked at other cars that might give better consumption, and toyed with the idea of a 4x4 or a lease, but keep coming back to buying diesel estate automatic C Class merc.
My question is: How do I minimise the depreciation? Do I buy one at 5 years old on 40k and run it 2 years to just under 100k and then swap, or go for a newer one and keep it longer, or a cheaper high mileage one and keep it till it breaks?
I love how reliable the MB is, have a brilliant local independent garage, and had a 5 year warranty on the old one, but am told that you can't now get a warranty to take you past 100k miles.
I'm sure there must be clever people out there that have contemplated this, and it strikes me that depreciation is the critical factor when seeking to control my motoring costs
I'd welcome your thoughts - Many Thanks