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Should I continue to use my son's company Skoda or buy a secondhand car?
Through my son I have the use of his second company car on lease. It is a Skoda 1.8Ti SE, a brilliant car. I pay £180 a month and change the car every six months with no servicing, recovery or road tax to pay. The problem is that I am 70 and only drive about 5000 to 6000 miles per year. Is it worth continuing to do this or should I buy a secondhand car outright? If you estimate that buying a car outright is the thing to do, what should I buy?
Asked on 30 June 2012 by RE, High Wycombe
Answered by
Honest John
£180 a month is £2160 a year and it will be very difficult to buy anything on which the annual depreciation beats this. If you can't do a decent deal to buy the Octavia, paying no more than £12,000, I'd say stick to the deal you've got for as long as you can.
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company cars
lease cars
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