Review
Exhibitionist company car drivers that like to drive in the preening, goldfish-bowl-on-wheels that is a convertible will no doubt tell their fleet manager that the flashier and more expensive the model is, the better.
The fleet manager then baulks at the thought of the cost involved in such an indulgence, of expensive-to-repair leaky roofs and trying to sell one in the middle of winter when they are as popular as those sorry-looking dusty barbecues stuffed in the corner of B&Q.
But like any good human resources strategy, a compromise that keeps the firm and the employee happy would be ideal: a swanky soft-top that gives the worker the requisite pose factor while the company has a car that is desirable, reliable, predictable and will sell at any time of the year.
And I reckon this is it. The 150bhp 1.8-litre turbo Audi TT Roadster uses an engine and mechanicals that virtually every fleet manager in the country will have come across before through other Audis, Volkswagens, Seats and Skodas, so no scatty Italian build quality or variable French electronics here.
The Bauhaus-inspired TT body will be instantly recognisable to any self-respecting fashion victim as well, so all the bases are covered with its aluminium flashes and detailing.
Then there's the price.
This car costs £21,450 on-the-road which makes it a bargain, relatively-speaking. A top-spec MG TF 160 is barely a grand cheaper, but throw into the mix that this bottom-of-the-range TT will retain a staggering 48% of its cost new after three years/60,000miles, according to CAP Monitor, and it becomes a very good proposition.
According to many of the disposals experts, second-hand convertible sales are much less seasonal now because of the quality and fitting of the roofs, so no dusty barbecue worries there then.
So where's the catch? Well, this base TT Roadster doesn't come with leather seats, metallic paint or a CD player which makes it spartan to the point of being miserly, but then you have to suffer for the sake of fashion sometimes.
Because of its cast iron residual value performance though, some contract hire companies will throw in the leather for free, reasoning that it can only help it retain lots of lovely value.
Some will also feel that 150bhp is not enough power, making this a hairdryer-powered hairdresser's car. Not so. This TT does not have the heavy quattro four-wheel drive system attached, using a conventional front-wheel drive set-up of the Golf, which means it is 130kg lighter than the 180bhp 1.8T quattro model, and therefore not noticeably slower.
Our test car came fitted with optional 17-inch wheels which added to the stiff springing that is a trademark of the latest Audis. It made for a shuddering ride but it also meant it turned in with precision and gripped well. The TT makes all the right exhaust noises as well, which is particularly fun with the roof down.
So back to the catch. If anything the catch is for the other cars in the range to deal with. Unless a driver really wants the all-out bonkers 3.2-litre TT with the DSG gearbox, why bother with the other TTs?
The Roadster 150 is the best mix of price, performance and pose value in the line-up.
Audi TT Roadster 150
Delivered price, standard car (P11D value): £21,270
CO2 emissions (g/km): 197
BIK % of P11D in 2003/04: 23%
Graduated VED rate: £160
Insurance group: 17
Combined mpg: 34.0
CAP Monitor residual value: £10,300/48%
Depreciation (18.28 pence per mile x 60,000): £10,968
Maintenance (3.95 pence per mile x 60,000): £2,370
Fuel (11.09 pence per mile x 60,000): £6,654
Wholelife cost (33.32 pence per mile x 60,000): £19,992
Typical contract hire rate: £417
Three rivals to consider
P11d price
The main piece of equipment all these cars have going for them is a soft roof. In the case of the Elise, that is pretty much all you get, apart from the fantastic driving experience. The MG is in top-of-the-range guise and comes with leather seats and a CD player. The Alfa is similarly-specced but is nearly £3,000 more expensive, while the Audi is the second-cheapest car here, but doesn't have a CD player – surely a pre-requisite for showy top-down motoring?
MG £20,125
Audi £21,270
Lotus £22,995
Alfa Romeo £23,085
SMR costs
Two-seater convertibles are not well known for their robust nature, and as they are often driven pretty hard they can go through their fair share of rubber. The MG has the lowest SMR costs, which would suggest that many of the glitches and gripes that afflicted the MGF, such as overheating and leaking roof seals, have been sorted. The Audi is relatively expensive while the Alfa competes but does not have a reputation for solidity.
MG 2.75ppm
Lotus 3.41ppm
Audi 3.95ppm
Alfa Romeo 3.95ppm
Fuel costs
Weight is the Elise's best friend when it comes to fuel economy. Using the same K-series engine as in the MG TF, the Lotus's wispy mass gives it an excellent combined figure of 38.1mpg. The MG TF is not far behind, while the TT Roadster suffers due to extra weight and its turbocharged engine, despite being 10bhp less than the MG. The Alfa might have a lovely exhaust note, but it would cost £1,500 more in fuel than the Elise over a three year/60,000 mile fleet operating cycle.
Lotus 9.91ppm
MG 10.15ppm
Audi 11.09ppm
Alfa Romeo 12.43ppm
Depreciation costs
The Audi TT is the absolute king when it comes to depreciation, losing only slightly more than half its value after three years and 60,000 miles at 48%. The Elise is very good as well at 47%, although as a low volume enthusiast's buy its performance isn't quite as heroic as the much higher volume TT Roadster. The Alfa Romeo and MG TF both return a healthy 38%, but with the Alfa being the most expensive here in P11d terms, that means the highest pence per mile figure by some distance.
Audi 18.28ppm
Lotus 20.20ppm
MG 20.33ppm
Alfa Romeo 24.58ppm
Wholelife costs
The Alfa's high pence per mile depreciation figure and poor fuel economy put it out of the running. It would cost about £4,000 more than the others over the 60,000 mile period. The other three cars have remarkably similar running costs, although all through different routes: the Audi with its excellent residual value, the Elise with a combination of good fuel economy and residual value performance, and the MG TF as a solid all-round package with cheap SMR costs.
MG 33.23ppm
Audi 33.32ppm
Lotus 33.52ppm
Alfa Romeo 40.96ppm
Emissions and BIK tax rates
It doesn't take a maths genius to work out the MG TF would have the lowest monthly benefit-in-kind tax charge: it has the lowest P11d and CO2 figures, and would cost a 40% tax-payer £127 a month in the 2003/2004 tax year. The reverse is true of the Alfa: highest for P11d value and CO2 emissions with a hefty 220g/km resulting in a £215 a month tax bill. The Audi and Lotus are fairly closely matched at £163 and £153 respectively for the same 40% tax-payer.
MG 179g/km/19%
Lotus 183g/km/20%
Audi 197g/km/23%
Alfa Romeo 220g/km/28%
Verdict
The Alfa Romeo just can't hack it when it comes to costs, despite recent revisions making it even prettier, while the basic Lotus would be a fine choice for the committed driver not fussed about comfort and equipment. That leaves the MG TF and the TT, and while Longbridge's finest is a decent car with competitive running costs, the TT has more class. It oozes style and sophistication at a price that is hard to beat, and the fleet manager should be pretty happy with the wholelife cost proposition as well.
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