Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

Reraise

Let's Talk Cars

Recommended Posts

How much do you guys spend on driving? What is a reasonable amount to spend in terms of income? First or second hand?

I understand that depreciation and running costs are the two biggest factors. I've been told in the past that buying a good car at 3 years old and selling at 6 years old is an efficient method, anyone else believe that?

Share this post


Link to post
Share on other sites

Have always bought a 3 yr old car straight out of warranty from a dealer and always for 0.8 to 1K less than than forecourt price. Never trade in as so far they ahve always been written off at the right time :P

paid 5.4K for my current 206SW. Estimate 500 quid depreciation, 20 quid road tax, 60 mpg, 12K miles per year, 200 quid service every 20K, insurance 135 quid, tyres 100 quid

Costs me about 2K pa (wish I hadn't added that up)

Share this post


Link to post
Share on other sites

Get an Aston, you're a long time dead.

My cheapest car was a mini, purchased in 1971 for £45. Sold it three months later for £50. Closely followed by a Ford Anglia, cost £15. Replaced both doors, which had rusted through at the bottom, with a pair purchased from a scrapyard for £2.50, resprayed it using a vacuum cleaner in reverse, new set of tyres and ran it for two years with no other replacement parts apart from normal service items, air filter, oil filter. Can't remember what I sold it for.

But really I agree get an Aston, you're a long time dead.

Share this post


Link to post
Share on other sites

How much do you guys spend on driving? What is a reasonable amount to spend in terms of income? First or second hand?

I understand that depreciation and running costs are the two biggest factors. I've been told in the past that buying a good car at 3 years old and selling at 6 years old is an efficient method, anyone else believe that?

Really depends how much driving you do and whether you're happy with a spanner and a Haynes manual. If you're just going down to the shops once a week then as little as possible; if you're doing 20,000+ miles a year then a bit more.

If you're not fussy then you can get something for £500 that could last for years (or could fall apart after 500 yards).

Share this post


Link to post
Share on other sites

All depends on you really. Nothing wrong with an old cheap run around.

Buy something with 12 months mot on it for under £1k and if it fails the next mot then scrap it, it doesnt owe you anything after 12 months.

I bought a 2002 xsara estate for £1100 and it just failed the mot after 2 years of driving and a £300 alternator (my fault really). So now it is going for scrap. People in work laugh and say why bother with older cars when you have to keep scrapping them? The answer is that that xsara cost me a total of £1400 for 2 years of driving, most or their cars have lost more than that through depreciation alone. Add on the cost of servicing (which I dont bother with) their cars and interest on their loans and they stop laughing when I point out the figures.

I can weigh in the xsara now for £150 or sell it on feebay for repair so it has cost me less than £700 a year for driving.

Long mot, cheap and make sure that it isnt due a cam belt is my cheap driving formula. And be fully prepared to weigh it in when the mot expires, if it passes another then its a bonus.

Share this post


Link to post
Share on other sites

Long mot, cheap and make sure that it isnt due a cam belt is my cheap driving formula. And be fully prepared to weigh it in when the mot expires, if it passes another then its a bonus.

I'm with you on this. I've always got many years out of cars that only cost near the 1K mark.

My current car cost £750 :lol: and it's already passed two MOTs with no work necessary.

Private buying obviously has it's dangers. But if you buy wisely, there are so many bargains to be had. The one time I spent a lot more on a car, I got burnt. It was a sporty convertible, and the previous owner must have run it into the ground. I realised then that spending more doesn't guarantee a lot.

Share this post


Link to post
Share on other sites

My theory was that I could buy a 10 year old car with a low mileage (60k miles and FSH) for 1,000 and try to run it for 5 years. My old Rover passed it's MOT last week and is now on its 17th year.

In that time its had brake pads, a couple of bushes, middle and rear exhaust and a couple of oil changes.

Share this post


Link to post
Share on other sites

My theory was that I could buy a 10 year old car with a low mileage (60k miles and FSH) for 1,000 and try to run it for 5 years. My old Rover passed it's MOT last week and is now on its 17th year.

In that time its had brake pads, a couple of bushes, middle and rear exhaust and a couple of oil changes.

old rovers are great, those honda engines were made to last.

anyone buying older cars, or any car for that matter should do the checks. Too often are people given the mot cert and nothing else and think that a car is great.

Check the cars history here http://www.direct.gov.uk/en/Motoring/OwningAVehicle/Mot/DG_10020539

all you need is the registration and either the mot number or v5 number and you can look through all of the mot's. More importantly you can see the advisories issued on the last mot - you know, that orange page that no seller ever has.

Lots of nasties hide in the advisories, things like corroding brake pipes/ball joint/play in bearings/exhausts - stuff that wasnt a fail but will be next time - expensive stuff.

Share this post


Link to post
Share on other sites

I buy circa 5 year old cars,and keep till no longer viable.Best was a Toyota Carina,written off in a crash 6.5 years later,which needed a radiator and a battery in that time.Nissans and Toyotas from mid-80s to mid-90s are reliable cheap buys.Unfashionable Kias,Hyundais and Protons are canny second-hand buys too.

Share this post


Link to post
Share on other sites

I like to buy cars 8 to 12 years old that cost a lot when new!

Best one I had was a big Lexus! :)

Share this post


Link to post
Share on other sites

Not to be deliberately contrary, but the first choice should always be to consider whether you need a car.

I've survived 4 or 5 years without one and it really isn't that hard and is much cheaper!

You can hire one for like £50 all in on the rare occasion you genuinely need one.

Share this post


Link to post
Share on other sites

How much do you guys spend on driving? What is a reasonable amount to spend in terms of income? First or second hand?

I understand that depreciation and running costs are the two biggest factors. I've been told in the past that buying a good car at 3 years old and selling at 6 years old is an efficient method, anyone else believe that?

It was true but not any longer. Cars have been much better built since the late 90s and a 6 year old car will usually be still going fine for another 6 years.

When I was economising I would buy cars at about 8 - 10 years old and run them until they broke so depreciation was well below £500 a year. Now I want better cars without going mad so allow for £2k a year depreciation.

If you want cheap running costs go Ford or Vauxhall. Reliability is good, if not as great as the Japs, but they will be very cheap to fix when they do go wrong and any garage can do it.

I know somebody else who follows Mr Pin's stratgey of buying something really smart very cheap at about 10 years old and, with a personalised plate on, everybody thinks he's driving an expensive motor when it actually cost about £3k.

Share this post


Link to post
Share on other sites

It was true but not any longer. Cars have been much better built since the late 90s and a 6 year old car will usually be still going fine for another 6 years.

When I was economising I would buy cars at about 8 - 10 years old and run them until they broke so depreciation was well below £500 a year. Now I want better cars without going mad so allow for £2k a year depreciation.

If you want cheap running costs go Ford or Vauxhall. Reliability is good, if not as great as the Japs, but they will be very cheap to fix when they do go wrong and any garage can do it.

I know somebody else who follows Mr Pin's stratgey of buying something really smart very cheap at about 10 years old and, with a personalised plate on, everybody thinks he's driving an expensive motor when it actually cost about £3k.

It depends on what you want a car to do and how you feel about cars.Assuming that you don't have a love affair going on,like the guy who mentioned Astons and that you want a reliable,economical car then buying a 60k at 3 years and selling at 6 can be quite efficient.If you pay through the nose for a 30k car you get less return for the lower mileage when you sell than you pay at the point of purchase.I sell about 180 cars a year,the bulk are ex fleet high milers and we get little comeback.

Having said that the best deal I ever did was an Alfa Romeo GTV 3 litre V6.I bought it for a grand and sold it a week later for three - this was in 1984.I didn't want the car and bought it as a favour from a local Vauxhall dealership.

Share this post


Link to post
Share on other sites

My theory was that I could buy a 10 year old car with a low mileage (60k miles and FSH) for 1,000 and try to run it for 5 years. My old Rover passed it's MOT last week and is now on its 17th year.

In that time its had brake pads, a couple of bushes, middle and rear exhaust and a couple of oil changes.

How many head gaskets?

Share this post


Link to post
Share on other sites

Modern cars just out of warranty can get very expensive when things go wrong... My 54plate Renault megane was a disaster almost right after the 3 year warranty expired requiring circa £2k on repairs the year after (fortunately i extended the warranty by a year).

A few if my friends have bought older, luxury cars for a fraction of their new list price like an £80k Merc S500 for less than £10k - beautiful or a 190mph porsche for £13k and the way it was driven he should have been locked up.

When I buy my next car later in the year I'll be looking for an SLK320 from the early 2000s

Share this post


Link to post
Share on other sites

Modern cars just out of warranty can get very expensive when things go wrong... My 54plate Renault megane was a disaster almost right after the 3 year warranty expired requiring circa £2k on repairs the year after (fortunately i extended the warranty by a year).

A few if my friends have bought older, luxury cars for a fraction of their new list price like an £80k Merc S500 for less than £10k - beautiful or a 190mph porsche for £13k and the way it was driven he should have been locked up.

When I buy my next car later in the year I'll be looking for an SLK320 from the early 2000s

Renaults have a name in the trade for expense,especially electronics.It's a pity because they drive so well.Typically French.

Share this post


Link to post
Share on other sites

The strategy I took in 2006 was to buy a cheap new car that was most likely to offer me the most chance of an indefintie period of safe, reliable motoring and big enough to take whatever I needed it for. Which meant £12K, Japanese, petrol, C-segment car. Nearly 5 years and over 60,000 miles later that strategy is, so far *touch wood*, paying off. The expense (outside of my own own stupidity) amounting to 6 new tyres in that time. Despite an incredible, burning itch to change now, I don't regret the decision. It is not without its faults, for instance it is a little heavier on juice than I anticipated, but it has performed its required objectives admirably. 6 years will be when I am happy to write it off from a financial point of view at £2K per year although my target is 8 years at a cost oft £1.5K per year in depreciation. Also, having owned it from new when it had 4 miles on the clock, I would like to keep it for 100k miles which would be around that 8 year mark. Can I manage 3 and a half more years is the question...

I can appreciate the idea of bangernomics but having been there in the past and it not working out, as well as the difficulties of sorting car trouble out when you need your car, I am not comfortable entrusting my livelihood to this. I could only currently justify it as a second car strategy and so far I am avoiding the additional expense of a second car although I am half heartedly looking for something suitable.

Share this post


Link to post
Share on other sites

The strategy I took in 2006 was to buy a cheap new car that was most likely to offer me the most chance of an indefintie period of safe, reliable motoring and big enough to take whatever I needed it for. Which meant £12K, Japanese, petrol, C-segment car. Nearly 5 years and over 60,000 miles later that strategy is, so far *touch wood*, paying off. The expense (outside of my own own stupidity) amounting to 6 new tyres in that time. Despite an incredible, burning itch to change now, I don't regret the decision. It is not without its faults, for instance it is a little heavier on juice than I anticipated, but it has performed its required objectives admirably. 6 years will be when I am happy to write it off from a financial point of view at £2K per year although my target is 8 years at a cost oft £1.5K per year in depreciation. Also, having owned it from new when it had 4 miles on the clock, I would like to keep it for 100k miles which would be around that 8 year mark. Can I manage 3 and a half more years is the question...

I can appreciate the idea of bangernomics but having been there in the past and it not working out, as well as the difficulties of sorting car trouble out when you need your car, I am not comfortable entrusting my livelihood to this. I could only currently justify it as a second car strategy and so far I am avoiding the additional expense of a second car although I am half heartedly looking for something suitable.

Not Bangernomics exactly but I have been selling 2006 Focus/Astra Diesels at £3995.These cars are normally in the 80-90k mileage range but as a 2003 example would sell easily for £2k with 120k miles I reckon the cost can be trimmed to about £700 p.a. And bear in mind I am taking almost dead p/exs for a few hundred quid and giving a 3months parts &labour warranty,full MOT and a service.

Share this post


Link to post
Share on other sites

Modern cars just out of warranty can get very expensive when things go wrong... My 54plate Renault megane was a disaster almost right after the 3 year warranty expired requiring circa £2k on repairs the year after (fortunately i extended the warranty by a year).

A few if my friends have bought older, luxury cars for a fraction of their new list price like an £80k Merc S500 for less than £10k - beautiful or a 190mph porsche for £13k and the way it was driven he should have been locked up.

When I buy my next car later in the year I'll be looking for an SLK320 from the early 2000s

I very nearly just bought a renault laguna sports tourer, the 2l 16v. Looked a nice car, fully loaded and only £2k at 5.5 years old and 41k miles on the clock.

Something wasnt right though which led me to dig. One thing I found was that the cam belt was overdue a change, should be done at 72k or 5 years and apparently you do not leave renaults cam belts if they go over time.

Rang around renault garages for the price of a cam belt change.......cheapest was £750, I didnt buy the car.

Share this post


Link to post
Share on other sites

Not Bangernomics exactly but I have been selling 2006 Focus/Astra Diesels at £3995.These cars are normally in the 80-90k mileage range but as a 2003 example would sell easily for £2k with 120k miles I reckon the cost can be trimmed to about £700 p.a. And bear in mind I am taking almost dead p/exs for a few hundred quid and giving a 3months parts &labour warranty,full MOT and a service.

Almost bought a diesel focus new but concerns over the PSA 1.6 engine and dealers not knowing a DPF from their elbow put me off. Knowing what I know know, maybe I should have just plumped for the 1.8 and not been put off by the old-fashioned label. Still wouldn't buy a 5 y.o. one at £4K.

Share this post


Link to post
Share on other sites

My next car is going to be private leasing, get one of the superminis for around £120 a month including VAT on a 2 year contract, 10K miles a year. Or a Ford Fiesta 2011

for 3 years, £140 a month.

It costs more than a banger and you have nothing at the end of it but you do get a brand new car with no servicing costs or MOT and under warranty with 1 years tax.

One monthly bill and the only other cost is gap insurance, if someone crashes into you the people who leased it will want the full value, the insurance company will

pay the market value. It's about £100 a year I think. Edit: I got a quote for 3 years, £92 total cost or £30 a year.

Might seem expensive but I'm tired of driving 10 year old bangers, or 5 year old luxury saloons that cost a fortune in tyres, fuel, tax and servicing.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 297 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.