I would like your thoughts on what to get for my next car...
Currently I lease a Focus with the EcoBoost engine. The two year lease is coming to an end and although its been a good car I fancy something a little different. Possibly another lease or maybe buy something nice.
I travel about 6000 - 8000 miles PA. No commuting (can walk to work!) so all travel is for leisure, shopping etc - a mix of city and country.
I thought about leasing the new Astra SRI 1.6T 200ps. Had a drive in one and it feels good. Some nice equipment, comfortable seats etc. Its no Focus ST, but excellent performace and economy is acceptable for my use.
The total cost of leasing the Astra would be c.£9k over 3 years and it would probably cost no more than £500 in servicing. So total cost would be c.£9.5k.
As an alternative I'm considering a 6-7 year old low-mileage (less than 40k miles with Lexus history) Lexus IS250 from the Lexus Approved scheme. This would cost c.£11k. They give an excellent first year warranty - almost to 'manufacturer' level, but after that I would be on my own (don't rate 'aftermarket' warranties at all). Service and repair costs for the Lexus over three years should not be more than about £1.5k (unless I am unlucky). I have the tools and skills to do service and minor repairs (e.g. replace discs and pads, dampers etc) myself without breaking a sweat. So say total cost of the Lexus would be c.£12.5k. BUT with the Lexus it would have a value of, say, £5k after three years - so total costs c.£12.5k - 5k = c. £7.5k.
I realise that these are rather different cars - the Astra more practical, the Lexus more luxurious. I think I would enjoy both. Which should I choose? Is my valuation of the Lexus after three years ownership ball-park correct?
I would not have to borrow to buy the Lexus, but obviously would forgo the bank's generous interest on the £12k !
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