YOU can now work out how much your next business car is going to cost you – and what you can save by choosing a different car for your company.
You can compare the ‘whole life costs’ of up to five cars over a three-year period and 60,000 miles. The cost comparitor compares standard on-the-road price, CO2 emissions, fuel economy, company car tax, VED Band, insurance group and key features. The results can then be saved as a pdf document.
The comparison tool has been launched by Honda.
Honda says the tool is neutral: the information is sourced from CAP Monitor, which provides car data to much of the car industry.
Comparing a Honda Accord ES GT diesel saloon against a similar Ford Mondeo diesel saloon sees the Accord win: 0.38p per mile against the Ford’s 0.43p per mile.
However, add in the cheaper but ageing VW Passat, and the cost comparitor highlights the VW as the winner: 0.37p per mile.
“We want to support customers by helping them make an informed purchase decision based on the issues that are relevant to them. The car comparator enables the customer to do this with impartial, third party data,” said Tom Gardner, Honda’s head of car marketing.
However, to access the comparison, you must enter a Honda model first.
When calculating the cost of a car over three years/60,000 miles, Honda’s car comparator takes into account the following data from CAP Monitor:
- The initial purchase price
- Service, maintenance and repair costs
- Cost of fuel
- VED Band
- Residual values (RVs)
You can view the online tool here: www.honda.co.uk/comparator.
Further information
You can understand more about whole life costs by viewing our Advice Centre article Whole life costs – the true cost of business cars.
