posted 6 years ago

Motoring.co.uk Launch Innovative Car Finance Calculator

Motoring.co.uk has launched an innovative Savings Calculator to help reduce motoring expenditure.

Motoring.co.uk has launched an innovative Car Finance Calculator to help reduce motoring expenditure. The calculator allows motorists to compare the annual costs of their current vehicle with a newer model, i.e. fuel, road tax, and finance payments. With some new vehicle achieving up to 75 miles per gallon, thousands of motorists motorists may actually be able to purchase a new vehicle and reduce their annual expenditure.

Let's consider an example. Richard drives his second generation Ford Mondeo 2.0-litre Ghia X auto 20,000 miles annually. His fuel expenditure is therefore £3,305.97 and road tax costs £190. This is a total expenditure of £3,495.97.

The latest fourth generation Mondeo is far more efficient. Richard could therefore drive a 1.8-litre TDCI Edge, cover the same mileage, and save £1,442.49 per year. This breaks down into a fuel saving of £1,377.49 and tax saving of £65. Richard could reduce his expenditure further by swapping his finance package for a more favourable deal.

The Car Finance Calculator is intuitive and user friendly. Simply enter a few basic details, e.g. current vehicle, annual mileage, etc. and select a vehicle as the point of comparison. The calculator then compares the models and highlights any potential savings. These could easily prove considerable enough to justify purchasing a new vehicle.

See if you could save with the Motoring.co.uk Car Finance Calculator