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longtomsilver

61 Plate Or Bangernomics?

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Hmm thats tempting.

Always done bangernomics myself but getting a bit sick of driving sheds! And with offers like this its hard to resist...shame I don't like the clio!

Anyone know of any similar priced deals? I'm always put off by the large 2k+? deposits - could buy a pretty decent banger for that! Had a search around but can't see anything similar

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Hmm thats tempting.

Always done bangernomics myself but getting a bit sick of driving sheds! And with offers like this its hard to resist...shame I don't like the clio!

Anyone know of any similar priced deals? I'm always put off by the large 2k+? deposits - could buy a pretty decent banger for that! Had a search around but can't see anything similar

That's part of the reason i'm posting to see if there are similar deals others know about that come in under 130g of CO2 per KM annoyingly this one misses the £0 VED by 5 grams :rolleyes:

A few of my neighbours went down the bangernomics route earlier this year and have been stung quite badly 2002 Mazda people carrier has had £2k of repairs and an 2008 Vauxhall Astra Estate is having engine management problems right now - it all adds up.

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Although I'm a resolute banger man, I'd definitely go with the new or nearly new if I were you. More money than time = newish car.

If I was totally honest with myself, the only reason I continue driving bangers is because I enjoy working on them myself. Otherwise it barely makes economical sense for anyone with cash.

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Although I'm a resolute banger man, I'd definitely go with the new or nearly new if I were you. More money than time = newish car.

If I was totally honest with myself, the only reason I continue driving bangers is because I enjoy working on them myself. Otherwise it barely makes economical sense for anyone with cash.

My money pit isn't bottomless -

monthly + £750

monthly - £34.11 (Apple iMac Finance)

monthly - £35 (iPhone 4 - doubles up as broadband)

other than that the weekly food shop £70+\-

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Bangernomics worked so well in the good times because people changed their perfectly serviceable cars on a whim whereas now they get dumped when they need something fixing. Achievable if you have the time and know what you're looking at.

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My bangernomics experiment with an R reg 1.3 corolla (~£120 VED) over 25,000 miles and 3.5 years is showing 26p/mile costs all in. If the car is worth £500 now, knock 2p off that. No non-routine maintenance as yet either, touch wood. It drives as though it will go on forever, albeit slowly.

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My money pit isn't bottomless -

monthly + £750

monthly - £34.11 (Apple iMac Finance)

monthly - £35 (iPhone 4 - doubles up as broadband)

other than that the weekly food shop £70+\-

Errr correct my math if I'm wrong,but doesn't that mean you have enough to rent an aston? You might starve and only afford petrol fumes but boy would it give you kudos at the school gate. In fact why don't you take out a car loan?

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My bangernomics experiment with an R reg 1.3 corolla (~£120 VED) over 25,000 miles and 3.5 years is showing 26p/mile costs all in. If the car is worth £500 now, knock 2p off that. No non-routine maintenance as yet either, touch wood. It drives as though it will go on forever, albeit slowly.

+1 more like this please

If I were to pay the £3,640 balloon payment and keep the car (likely) then that 6p mile surcharge gets expunged from my calculation so it's more like 33p per mile, not far off your 26p :surprised:

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Errr correct my math if I'm wrong,but doesn't that mean you have enough to rent an aston? You might starve and only afford petrol fumes but boy would it give you kudos at the school gate. In fact why don't you take out a car loan?

Haha

You could be on to something!

re. Car loan/hire purchase they're the same thing aren't they? This deal is 7.9% so ever so slightly above inflation rate.

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Bangernomics worked so well in the good times because people changed their perfectly serviceable cars on a whim whereas now they get dumped when they need something fixing. Achievable if you have the time and know what you're looking at.

You are dead right there. I remember in the mid 90s used cars were expensive.

They got a lot cheaper, and now might get expensive again.

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+1 more like this please

If I were to pay the £3,640 balloon payment and keep the car (likely) then that 6p mile surcharge gets expunged from my calculation so it's more like 33p per mile, not far off your 26p :surprised:

Hmm, are you properly accounting for depreciation in your calculations? You'll expunge the 6p surcharge but you'll take a hit on the car value.

Even on a£1,500 banger, depeciation is still relevant over 25,000 miles, my costs break down as roughly:

10p/mile fuel

4p/mile maintenance (includes MOT cost)

6p/mile insurance/tax

6p/mile depeciation (to zero, but 1p can be deducted for every £250 the car is currently worth. I 'account' for it on the basis that the car's value is indeterminable at the moment, so I assume it is zero.)

EDIT- If I see the same offer as you, after 44 months you'll have paid 44*£159= £6,996

Plus baloon payment £3,640 = £10,600 odd, plus a few other bit and pieces.

You'll own a car worth about £5k at the end of it (looking at autotrader). So in depreciation terms you'll have to account for a cost of circa £5,500 over the 24,000-40,000 miles you'll drive in the period, ie somewhere between 14 and 23p/mile on top of your current numbers with 6p service charge expunged, taking them to between 47-56p/mile overall, more than my other banger costs, an N reg 2.8 litre Beamer.

Depreciation is the killer that makes bangernomics attractive. Ignore it at your peril.

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My bangernomics experiment with an R reg 1.3 corolla (~£120 VED) over 25,000 miles and 3.5 years is showing 26p/mile costs all in. If the car is worth £500 now, knock 2p off that. No non-routine maintenance as yet either, touch wood. It drives as though it will go on forever, albeit slowly.

:D

Chap where I used to work had his grandad's car when he stopped driving. An old 1.2 Japanese car so obscure I forget the name. It wasn't for reasons of tightness, and he was on an ok salary, he just saw a car as a car and wasn't bothered about being flash or able to overtake. He's probably still driving it!

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:D

Chap where I used to work had his grandad's car when he stopped driving. An old 1.2 Japanese car so obscure I forget the name. It wasn't for reasons of tightness, and he was on an ok salary, he just saw a car as a car and wasn't bothered about being flash or able to overtake. He's probably still driving it!

I can't claim to be as disinterested as he, I've a big engined coupe on hand in addition to the Toyota. In all honesty, I think I may prefer the Toyota overall though, its bulletproof reliabilty is very attractive and something which grows on me more over time. Seats leave a bit to be desired though. Still, 55 mpg on a 420 mile run yesterday (33.5 litres brim to brim, 417 miles) is a new high, mostly due to large sections of heavy but moving traffic at 40-50mph on the M6 northbound. Avearge mpg since owned is about 46, still pretty decent.

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It does depend very much on the individual car. For example, a banger that keeps breaking and costing time + money would not work for me as I need a reliable car. I still went for a very used car as I did my research. Alluding to an earlier post on this thread, in the good times there were lots and lots of company cars owned and maintained at any cost being drip-fed into the used car market. The level of maintenance made up for the abuse and choosing a decent diesel engine made up for the high mileage.

I found a high mileage ex-company car, big German diesel saloon, that had been sat on the 2nd owner's driveway for a year. I took a risk that not much had gone wrong, and budgeted for it. It required a bit of work but still within budget.

Since owning it, each service/MOT has brought up some extra work required but still within my budget. I wrote off the initial purchase cost as instant depreciation to 0 (it didn't cost much), so the only cost is maintenance. I believe it is currently valued at £500 but I find that doubtful so value it as 0.

I get to drive a comfortable large mile muncher instead of a little plasticky stiff modern car. It is nearly 15 years old but still does 45mpg diesel. When it does break I will bin it and buy another one.

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I get to drive a comfortable large mile muncher instead of a little plasticky stiff modern car. It is nearly 15 years old but still does 45mpg diesel. When it does break I will bin it and buy another one.

Ex fleet cars can be a good buy! ;)

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Ex fleet cars can be a good buy! ;)

Just sold a 57 reg Focus 1.6TDCi for £3695.Done 90k but full history,£95 a year tax and 60mpg.Will be worth £2500 in three years time at 120k.

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Bangernomics is changing a bit as problems that were previously fixable for a few hundred quid are now expensive.

The name of the game now is to find something older that has been reasonably well maintained,budget sensibly for fixing, and then just add petrol. Trying to avoid VED is daft - you save 200 a year, and pay a few grand more up front because these cars are popular.

Ideally you want a car that is old enough to have a plentiful supply of second hand electronics. Take Mrs rxe's Alfa 156 - 2.5 litre 24v, goes like stink, pretty heavy on juice if you drive it hard, but ok if you are sensible. Worth about £1500. We've just spent £700 getting most of the suspension rebuilt, and the car is in tip top condition - likely to need nothing other than servicing for the next 3 years. If the ECU goes - the local specialist has a box of spares for £100. If the engine falls apart, then the same specialist will dump a second hand one in for less than a grand. Body work is fine - but if some one does bash a door, I can get another ( in the right colour) for £100.

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Just sold a 57 reg Focus 1.6TDCi for £3695.Done 90k but full history,£95 a year tax and 60mpg.Will be worth £2500 in three years time at 120k.

There! Sounds better than some lease-hire deal to me! If the vehicle has been leased to a biggish company, they will have been maintained.

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Bangernomics is changing a bit as problems that were previously fixable for a few hundred quid are now expensive.

The name of the game now is to find something older that has been reasonably well maintained,budget sensibly for fixing, and then just add petrol. Trying to avoid VED is daft - you save 200 a year, and pay a few grand more up front because these cars are popular.

Absolutely

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Just sold a 57 reg Focus 1.6TDCi for £3695.Done 90k but full history,£95 a year tax and 60mpg.Will be worth £2500 in three years time at 120k.

That's a good deal! Had a look on the forecourt of my nearest second hand car dealer mostly 4+ years old/£4-5k 2007 Renault Modus £4,700 and 2007 Clio £4,300 not sure on the milage though. They had a 2006 Jaguar X-type for a smidgen under £6k leather seats, very plush.

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  • 284 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%



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