What to do with €25,000?

What to do with €25,000?

Hi. Thinking of changing my car. Undecided whether I should go for a relatively new car i.e. Mondeo, Mazda 6 or a premium brand such as Beemer or Jag XF that's 3/4 years old. I'm thinking around the €25,000 mark but I'm concerned about the servicing costs of the premium brands. Any advice great appreciated. Thanks in advance.

Our answer:

Hi Tom,

Premium brand servicing costs have come down significantly in the past few years, but you’re right to be concerned, as at that age cars tend to start developing problems and needing replacement parts, and that’s when things start to get expensive. I think you’re exactly right to go for a mid-size ‘family’ car instead as there are terrific bargains to be had and they’re every bit as sophisticated and good to drive as a more expensive premium model these days. The Mazda6 is my personal favourite, but also have a good look at the Volkswagen Passat, Skoda Superb, Peugeot 508, Kia Optima, Hyundai i40 and Toyota Avensis. With a budget of €25k though you’d be best off buying nearly-new or up to 18 months’ old.

Shane O'Donoghue

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