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I have been thinking about getting rid of my car for some time. I've never enjoyed driving and as my reactions slow I enjoy it even less. Plus I have to remember things like tax discs and services and CPZ permits. I'd be happier without the hassle. So I've looked at Haringey's Car Club deal . This was run by Streetcar but now seems to belong to Zipcar , part of a biggish American(?) parent.
My main use for the car (a 2004 Honda Jazz) is to take my mother shopping, which I do most weekends - she lives in the country about 80 miles away.
I've worked it out as below, and Zipcar does not look like a good bet at the moment, with Zipcar costing over £6,000 and owning at about £3,000
|Cost of Capital||£100||(3% on £3,000)|
|Depreciation||£500||(assume value c£3,000 going to nothing over 5 years)|
|Breakdown Cover||£25||use Quidco to get this year's special offer|
|Petrol||£1,182||40 trips of 220 miles at 44mpg at £1.30 per litre|
|Servicing||£600||A bit of a guess|
|Tyres||£200||A bit of a guess|
|ZipCar||Assume weekly journey Sunday and Monday, say 220 miles, 40 times a year|
|Mileage||£1,400||220 miles per hire less the 80 allowed by zipcar times 25p|
|Hire||£4,720||40 x 2 day trips at £59 per day for a VW Golf|