Should I continue to use my son's company Skoda or buy a secondhand car?

What is life like with your car? Let us know and win £500 in John Lewis vouchers | No thanks

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.

Tags: company cars lease cars

Similar questions

Do hybrids perform well for high-mileage drivers?

My lease car is due for renewal through my NHS leasing scheme. At the moment, I have a diesel Kia Ce'ed, for which I pay £105 per month. Prices have increased and the same car will cost me £165 next time,...

Do you know of any leasing schemes that deal in used cars?

I have the option of a company car through lexautolease or alfabet, but both only deal with new cars. Do you know of any schemes like these that would deal in approved used cars?

Could you recommend an economical company lease car capable of towing a caravan?

It's time to replace my company lease car again. My choice of car has to meet a tight window of requirements, balancing weight (for pulling a large caravan), economy for the 90 per cent of time I am not...