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Keep existing car, buy used or cotract hire?

I have a 2004 Audi TT in excellent condition with 55,000 miles on the clock. I currently do 4000 miles per year. In view of low mileage, is it worth keeping or replacing with a used TT or opting for contract hire, which is £500 per month?

Asked on 15 January 2014 by Cantona7

Answered by Honest John
Contract hire at £500 a month makes no sense at all for a car in which you will be doing 4000 miles a year. That's £6000 a year and £1.50 a mile for the contract hire alone.

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