The true cost of owning a new Jaecoo 7
Car changing is a big deal
Thinking about buying a Jaecoo 7? It’s a bargain on paper, but here’s the total cost of ownership.
Chinese brands are quickly becoming a common sight in the UK, with the Jaecoo 7 even topping sales charts in March and staying in the top 10 since. It’s popular because it’s cheap to buy, well-equipped, and offers strong value for money.
But there’s a catch when you look at the real cost over time. While a new Jaecoo 7 looks affordable upfront, your pennies could start adding up once you factor in fuel, tax, and depreciation.
To put this to the test, we ran the numbers on a new Jaecoo 7 to see how much it would cost to run over a three-year ownership period and 30,000 miles – and whether leasing might actually be the smarter option.
Here, we’ll look at total cost of ownership (TCO): the overall cost of buying, running, and maintaining a car over the time you own it.
If you just want the final results, click below. Otherwise, here’s everything you need to consider.
Remember, you can buy a brand new or used car right here on Carwow. And you can sell your car, too. We’re here to help you through every step of your car-changing journey.
Starting price
First up, let’s look at the starting price based on buying a Jaecoo 7 outright. Of course, most people choose to finance their car through a loan or PCP agreement, so the total cost will usually include interest and additional fees. These costs can vary depending on the type of deal, when you buy, and current interest rates.
For the sake of simplicity, we just used the recommended retail price (RRP) of a brand-new base model Jaecoo 7 Hybrid, priced at £29,210. That’s before you decide to add on any extras to your car.
Road tax
You’ve just bought the car – now it’s time to sort out your road tax.
If your car was first registered on or after 1 April 2017, the amount you pay in the first year depends on its CO2 emissions. You can check this first-year rate on the official GOV.UK vehicle tax tables, and it may also appear on manufacturer or dealer websites. After the first year, most drivers pay a standard annual rate of £200.
In our calculations, this applies to the Jaecoo 7. This car emits 125g/km of CO2, which results in a first-year tax cost of £455.
So, with the standard annual rate thereafter, you’re looking at £855 in road tax over the course of three years.
Fuel costs
Now costs get a bit more complicated, as fuel prices are changing all the time. So, for our analysis, we used the national average petrol price of 152p per litre, based on RAC Fuel Watch data, at the time of writing.
Remember that fuel costs vary depending on where you live and the type of fuel station you use, whether that’s a motorway service station or a supermarket. The RAC Fuel Watch site provides a useful overview of prices, as does the Fuel Finder website.
If you drive a Jaecoo 7 hybrid for 10,000 miles per year, and use its official fuel economy figure of 51mpg, it would cost around £4,065 in fuel over three years.
Depreciation
When you buy a car, you also need to consider depreciation – the amount a car loses in value over time. This varies depending on the model and a range of other factors.
In the first year, a car may typically lose around 15-35% of its value. After this initial drop, depreciation usually slows, with vehicles losing around 10-15% of their value in the second year.
You’ll lose around £16,200 on the Jaecoo 7 over three years and 30,000 miles, based on valuation data from Cap HPI, a body which monitors depreciation, assuming all vehicles are being traded in at a dealership in good condition.
How much will it cost you overall?
When we add up the road tax, fuel and depreciation, here’s how much it could cost you to own a Jaecoo 7 over three years:
| Road tax | £855 |
| Fuel costs | £4,065 |
| Depreciation | £16,200 |
| Total cost | £21,120 |
However, if your heart’s still set on a Jaecoo 7, but want to keep costs even lower, there’s another alternative to consider.
Is it cheaper to lease a Jaecoo 7?
Leasing can be a good option if you like driving a new car every few years and want fixed, often lower monthly payments without the long-term commitment of ownership.
We calculated this for the new Jaecoo 7 to see whether leasing works out cheaper than buying. We used the same fuel costs as in our buying analysis to keep the comparison consistent. Leasing costs are based on relevant Carwow deals at the time of writing, assuming a three-year term and 10,000 miles per year.
Here’s a breakdown of costs for a deal I’ve found on Carwow:
| Monthly payments | £267.12 |
| Initial payment | £3,500.44 |
| Total cost of lease | £12,849.64 |
| Total cost with fuel | £16,914.64 |
When you add fuel costs to the total lease, our calculations show that you’ll save around £4,200 over three years compared with the total cost of ownership.
Remember that road tax is included in monthly lease payments, so you don’t need to factor it into your running costs. You also don’t have to worry about depreciation, as you don’t own the car at the end of the lease.
Taken together, these factors make leasing a car a particularly appealing option, and our analysis suggests it offers the best overall value.
Car change? Carwow!
Looking for a new set of wheels? With Carwow you can sell your car quickly and for a fair price – as well as find great offers on your next one. Whether you’re looking to buy a car brand new, are after something used or you want to explore car leasing options, Carwow is your one stop shop for new car deals.
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