Fuel prices are on most drivers’ minds at the moment. And with the price of diesel having risen almost 30% since the start of the Iran war – and petrol prices not far behind – it’s no wonder.
To put it another way: if you’re wondering whether now’s the right time to switch your car for something more frugal, you aren’t alone. Interest in electric cars and hybrids has jumped since the start of the crisis, and buyers are – understandably – making fuel economy a big part of their buying decisions.
Trouble is, if you’re one of the many people thinking about making a more parsimonious purchase, the danger is that you end up paying over the odds for a model that’s now more in demand. So to help you out – because they’re nice like that – the good folks at CarGurus have asked me to scour the classifieds for some bargain deals on cheap-to-run models that’ll help you tighten your belt.
Let’s start with something that exemplifies the small, affordable runaround: the Volkswagen Up. As you might expect, the Up’s combination of dinky dimensions, smart looks and a stylish interior mean that it’s in demand, but there are still some bargains to be had.
For example, the 2014 Take Up that I found. This is the entry-level Up, so don’t expect many toys, but that just means there’s less to go wrong, and less to worry about spending money on. Mind you, with an official 60mpg fuel consumption figure, you won’t be spending too much money anyway.
This 2014 example has done 77,000 miles, so it isn’t too leggy, and it comes in at just £3,050, which is £965 below its CarGurus Instant Market Value (IMV), an estimate of the car’s value based on the prices of other Ups that are for sale. That means it’s going for almost 25 per cent less than what it’s actually worth in the current market. Not bad, eh?
But perhaps an Up is a little too small for you. In which case, how about a Hyundai i40 Tourer? Now, I accept the i40 isn’t exactly the last word in excitement, but in these straitened times, the head must sometimes rule the heart. And the 2019 example I found will certainly please the head.
“But Alex,” I hear you shout, “it’s a diesel. And diesel prices are way higher than petrol.”
You’re not wrong. But here’s the thing: the i40 Tourer will extract 67mpg from its 1.6-litre diesel engine. Even with diesel prices as high as they are, then, this big, comfortable, roomy family-sized estate, will still be markedly cheaper to run than a petrol model of a similar size.
What’s more, the mileage is reasonable, at 75,000, and this SE Nav specification comes with dual-zone climate control, heated seats, and even a heated steering wheel. So it should feel pretty luxurious for an economy buy. And the price? Well, it’s yours for just £7,990, a whopping £1,891 below its IMV. As bargains go, that’s up there with the best.
It isn’t the only Korean car that’s caught my eye, though. Hands up who remembers the original Hyundai Ioniq Hybrid? No? Well don’t worry, I’ll help you out.
This was Hyundai’s answer to the Toyota Prius, and it manages to achieve similarly impressive fuel economy thanks to its hybrid powertrain, yet it’s much nicer to drive, as it features a proper twin-clutch automatic gearbox, rather than a sludgy CVT.
And because nobody knows what it is, it’s cheaper to buy than a Prius, too, meaning you can bag a 2018 example like the one I found, with 91,000 miles on the clock, for just £7,650, which is £1,046 less than its IMV. We’re talking here about a car that can do as much as 77mpg if you’re really careful with your right foot, and because it runs on petrol, which is cheaper than diesel, it’s about as frugal as it gets.
Granted, none of these cars gets the heart pumping, but since when has saving money been exciting? Well, actually, it can be. How about saving money and driving a BMW at the same time? BMW diesels are looking startlingly cheap at the moment, and that means it’s possible to buy a frugal saloon with a posh badge that’s great to drive, and not spend too much of your wedge doing so.
Take, for example, the BMW 520d SE I found. A proper big BMW saloon with heated leather seats, comfy suspension, loads of room, and this one even has the desirable Professional satnav upgrade. A 2017 with a very reasonable 67,000 miles, it’s had just one owner from new, and it’ll do 60mpg on a long motorway run.
So go on, then, guess how much. Nope, you’re wrong, because the price for this finery is just £13,395 , equating to £1,533 less than it’s worth. Luxury, style, and affordability in one very tempting package; now that’s how to have your cake and eat it.
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