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Sugarlips

The anti PCP £500 Bargain bangers advice thread

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Sugarlips

The anti PCP £500 Bargain bangers advice thread

By Sugarlips, 10 hours ago in Investment in general 

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Sugarlips

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I love me a bargain motor, its central to the money saving aspect of Financial Independence. I have had all sorts of cars over the last 25 years, some have been a dream, otheres disasterous moneypits. I thought it might be handy to have a thread where we can share collected wisdom of bangernomics for those that can see through the PCP/loan on a fast depreciating asset.

There are probably other resources out there - like honestjohn.co.uk - that we can link to whilst also presenting each other with current ads/experiences.

For me there have been some firm rules to live by;

1. Dont ever compromise on safety, or reliability (the latter is easier said than done unless youre a proper mechanic, im not..), without question, its a false economy

2. Don't buy anything unregistered unless its just a donor for parts, in my case, these are the moneypits

3. Don't be afraid to haggle, older cars will always have some faults, always highlight them to the seller before agreeing a price. Take cash with you - sellers want a quick sale but..

4. Dont be afraid to walk away, try to remove emotion - just cause its the right colour/model etc doesnt mean you can overlook its bad points

5. Do your research. Know what the guide value is before you view, read about the pros & cons of certain models for example VW have been (rightly) dragged through the mud for their emissions scancal but thats not of much importance when deciding which one you should consider - personally id be much more wary of buying a used VAG with an DSG auto box as hey are so much trouble.

6. Try to make it a fun and enjoyable process and learn as much as you can, both before and after buying and lastly

7. Dont be sad if you end up with a lemon, at 500 quid these are disposable objects and rest assured your neighbours new Audi 4x4 probably loses 500 a month just parked in the drive :)

 

For the record i'm onoy into chrome bumpers so my best buys have been old Beetles, a '62 (bought in 03) and a 76 (bought in 2015) and a 1970 VW Variant, all were on the road for no more than 600 quid each. Admittedly these are weekend cars, i wouldnt recommend putting your 17yo in one. They are appreciating in value faster than the cost of maintaining them.

Worst buy? Merc 190e bought in the dark dirt cheap but i soon learnt the hard way the phrase "theres nothing more expensive than a cheap Mercedes!"

Happy motoring all :)

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I was a beetle-maniac once. I bought a 1964 1200 for £140 in 1981. Ran it for seven years. It had gone round the clock at least twice. Sold it for £200 in 1988. Best Buy. 

I bought my current RAV4 Business Edition Hybrid from Motability in January for £21k. Have just sold it for £23k, 5000 miles later. (Long story involving PIP assessment). 

New RAV4 the same spec as the old one arrives on 22nd. 

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Last year got a 2006 nissan almera with 40000 pn clock for ,1750. 

All service stamps in log book. It might not be fast car but it gets me from a to b . As air con, parking sensors,  leather seats and will last me for good 5 years

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I find it is mainly corrosion that does for banger cars, on body or brake lines (it's quite a fiddly job replacing them) or fuel tank. The engines, meanwhile, can go to the moon and back. I also have issues with windows that stopped fitting or running up and down properly that I could never manage to fix.

Which cars have fully galvanised bodies these days? Apparently, there is the 'paint on' version which is rubbish, and the electro deposited version which is much better.

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3 hours ago, nnails said:

Last year got a 2006 nissan almera with 40000 pn clock for ,1750. 

All service stamps in log book. It might not be fast car but it gets me from a to b . As air con, parking sensors,  leather seats and will last me for good 5 years

Whilst i'm not mechanically skilled to take a risk on a £500 o.n.o. motor, this did catch my attention.

Sounds like a deal, nnails. Japanese (by way of Sunderland) , good reputation, should serve you well for another 60K miles at least.

You do know that works out at 96p per day for the next 5 years before you pay it off!

How does that compare with a PCP on a new car? Could anybody draw a graph so we can understand this complex world of finance? :D

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I'd say under £500 is a tad low -- The sweet spot appears to be in the £500-£1k range (or even just over).

There is an interesting effect that you get for cars which are just about to go out of MoT.  These split into three categories:

  • Those that they've had feedback on from a friendly garage that something major is going wrong and they should get rid.
  • It has failed an MoT and they want rid.
  • Those where they can't be bothered to get an MoT and just want gone.

Obviously you want the latter.    You can usually tell which is which based on the type of person selling.

But, even nicer, these days you can do a search and get the details if they've tried for an MoT and it has failed -- so you can have a look and if it has failed on something 'easy' (and they just want rid of the liability) then you can go in and haggle hard (as they should know that once out of MoT the vehicle will be almost unshiftable), and also, you know that if it has failed on something 'hard' (eg, I don't touch airbags), then you can dismiss it quickly.

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Got rid of my import Nissan Serena a couple of months as it looked like it was about to become much more expensive. Rust and spare parts....25 years old so it did well.

Now riding Suzuki 650 but looking for something interesting and I`m really in no hurry !

Hyundai i10 about 4 years old ? (just a thought)

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18 minutes ago, council dweller said:

Got rid of my import Nissan Serena a couple of months as it looked like it was about to become much more expensive. Rust and spare parts....25 years old so it did well.

Now riding Suzuki 650 but looking for something interesting and I`m really in no hurry !

Hyundai i10 about 4 years old ? (just a thought)

Depends on your budget and needs but if you only need a small runabout you can get a well looked after mid 2000s KA with v low miles for 4-500 quid, not much difference to the Hyundai except looks and maybe bluetooth and usb..

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2 hours ago, Sugarlips said:

Depends on your budget and needs but if you only need a small runabout you can get a well looked after mid 2000s KA with v low miles for 4-500 quid, not much difference to the Hyundai except looks and maybe bluetooth and usb..

Yes, wife sold her 2001 Ka for £500 earlier this year. 38,000 miles, serviced every year and the only known fault was the clock.

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31 minutes ago, The Spaniard said:

A related topic is timing the purchase of a usable but likely future classic car at or near the bottom of its price trajectory.

 

One of my current cars is a 2003 Mini bought new for my daughter to take her to and from Uni. When she got married and had kids she bought a bigger car, I gave her the trade in offer less the no trade in discount so I had a shopping hack. Stood me at £1100 five years ago, now with 178,000 on the clock it's developed it's first fault in my ownership, passenger door doesn't unlock on the remote (easy fix, can't be ar$ed. Even the aircon works).

Anyway the classic option at a low price, Integrale EVO2 bought 12 years ago for £5,000..........

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7 hours ago, The Spaniard said:

A related topic is timing the purchase of a usable but likely future classic car at or near the bottom of its price trajectory.

 

Agreed, if you pick the right motor it will pay you back in spades and put a smile on your dial every trip.

Maybe we need a seperate thread for this, my pick for those with a few quid spare; VX220, just as fun at an Elise but yet to explode higher in value - turbo is nice but id look for a low mileage well cared for one like this:

http://www.autotrader.co.uk/classified/advert/201705105310266?radius=1501&postcode=rg226pt&make=VAUXHALL&sort=sponsored&model=VX220&advertising-location=at_cars&onesearchad=Used&page=1

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13 hours ago, The Spaniard said:

A related topic is timing the purchase of a usable but likely future classic car at or near the bottom of its price trajectory.

 

I doubt you'd find any car right now that can even vaguely be described as a classic/exotic/sports/performance car... which isn't already in bubble price territory.

 

Any car that's not already been caught up in this current insane bubble and described as an ''appreciating classic'' will never be.

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On 09/09/2017 at 11:54 AM, frankief said:

Whilst i'm not mechanically skilled to take a risk on a £500 o.n.o. motor, this did catch my attention.

Sounds like a deal, nnails. Japanese (by way of Sunderland) , good reputation, should serve you well for another 60K miles at least.

You do know that works out at 96p per day for the next 5 years before you pay it off!

How does that compare with a PCP on a new car? Could anybody draw a graph so we can understand this complex world of finance? :D

Like nnails I have the same model Almera. 2003 53 reg, 2.2 diesel, very torquey but I have had some huge bills with it. I think it had a hard life.

  A petrol engine Japanese car like an Almera 1.5 or 1.8 or Korean car (Hyundai or Kia) would be my suggestions.

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1 minute ago, MattW said:

Like nnails I have the same model Almera. 2003 53 reg, 2.2 diesel, very torquey but I have had some huge bills with it. I think it had a hard life.

  A petrol engine Japanese car like an Almera 1.5 or 1.8 or Korean car (Hyundai or Kia) would be my suggestions.

Mine is petrol 1.5 . I do wish it had bit more power

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23 hours ago, The Spaniard said:

A related topic is timing the purchase of a usable but likely future classic car at or near the bottom of its price trajectory.

Austin Metro (1980-1990) or Rover Metro/100 series (1990-1998).

And the car with one of the ugliest dashboards of all time: I have a soft spot for the Dutch built Volvo 440 or 460 (1988-1996) but I'm not sure that they will reach classic status. The 480 coupé certainly will...if it hasn't already.

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8 minutes ago, nnails said:

Mine is petrol 1.5 . I do wish it had bit more power

I'm quite impressed that yours has leather, mine is just cloth. :) I assume Nissan added leather to try and shift the last Almera in 2005/6.

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1 hour ago, MattW said:

I'm quite impressed that yours has leather, mine is just cloth. :) I assume Nissan added leather to try and shift the last Almera in 2005/6.

Yes. It had nice little extra all over car. Cargo net in the boot which are dead handy , leather gear knob , nissan stand mud guards and best features is curry hook in passenger seat.  

I was talking to my mate the other day about this fact. Is it worth buying last generation of a car as they fixed all mechanical bugs by then and specs might be higher.

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1 hour ago, nnails said:

 

I was talking to my mate the other day about this fact. Is it worth buying last generation of a car as they fixed all mechanical bugs by then and specs might be higher.

You mean like windows XP?

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I think there's something to be said for buying a 90k mile car over, say, a 60k mile car of the same age... the higher mileage car will have likely had anything that breaks or wears out sorted and replaced, where as the lower mileage car might be just on the cusp of seeing the big bills come rolling in.

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1 hour ago, Sledgehead said:

You mean like windows XP?

Vista . Lol.  But seriously if you had experience windows 8 . There is good chance you would be much happier with windows 7 based pc

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On 10/09/2017 at 0:12 AM, The Spaniard said:

A related topic is timing the purchase of a usable but likely future classic car at or near the bottom of its price trajectory.

 

Cute, lively, aged well, lots of personality..

 

 

kaimages.jpg

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15 hours ago, nome said:

I think there's something to be said for buying a 90k mile car over, say, a 60k mile car of the same age... the higher mileage car will have likely had anything that breaks or wears out sorted and replaced, where as the lower mileage car might be just on the cusp of seeing the big bills come rolling in.

There's an interesting multifactorial argument to be had here, and I'm sure it's possible to argue the point in a way that would see you reach a diametrically opposed conclusion.

Probably the issue most likely to bring one down firmly on the side of seeing greater merit in a 90k car is if you happen to have one you are trying to shift.

So do you?

:lol:

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