No one would insure our £105k Range Rover, so we had to sell it

[staintunerider]

On 26/11/2023 at 12:32, nightowl said:

If you can't insure it there's a risk your buyer can't either - if they are local to you at least. Given how much they apparently breakdown I'm not sure why they are so stealable🙄. 

Like unmortgageable real estate falls to pennies on the dollar as the pool of potential buyers dwindles...

And some still think demand is key....

Blimey 105k on an overpriced vehicle and as for the article suggestting TPFT is that a wet behind the ears journo just out of school and with no experience of motoring , insurance etc ?

Edited November 28, 2023 by staintunerider

[staintunerider]

On 26/11/2023 at 13:24, TenYearToGetMyMoneyBack said:

Maybe they should have bought a Tesla 🤒

Maybe the manufacturers should think more about security especially when adding dumb features like Keyless ignition.

I'm old enough to remember when the Ford Escort RS Cosworth became so expensive to insure that a years insurance cost more than a brand new one. That was what killed them off.

I recall the Sierra Cosworth was the Mk 2 Jag of it's day for those looking for a fast getaway...

[staintunerider]

On 26/11/2023 at 17:33, The Angry Capitalist said:

If they are easy to steal then it makes sense.

They can't keep paying out £110,000 on a £2,000 policy.

I once had a Prius and the  catalytic converter got stolen which is very common on the model.

Had to pay £450 excess to get it replaced.

Drive a 20 year old petrol hatchback now.

It's great.

Don't have to worry about anyone stealing it.

Can scratch it and dent it etc.

No stress or worry.  Just an old and reliable car to get from A to B.

Cheap to insure too.

I'll see your 20 year old hatchback and raise you a 31 year old hatchback GTi lol

I never meant it to become a daily driver but it is for now...I also use a steering lock across the steering wheel, unlike obviously all these range rover owners....

I am appalled at the price and unnecessary complexity of modern cars especially high end ones.....barber was telling me his Quasqai needed a new dash screen 5k.....5 flipping k...what ? Fortunately he had warranty...

Coming back from a friends near Wales down the M4 I over took my mates missus driving his range rover....sailing along for a few k surrounded by 40/50/100k vehicles....PCP has a lot to answer for...but sure the manufacturers love it!

 

[iamnumerate]

14 hours ago, Stewy said:

Just wait until there's a few more Luton Airport Car Parks ✓✓

Wasn't the problem the lack of sprinklers.

[staintunerider]

On 26/11/2023 at 19:47, Johnno1167 said:

Horrible vehicles .. ugly as sin with the aerodynamics of a breeze blocks. And the chavvy evoque, what were they thinking ! 

as a kid, always chuckled at the classic joke .. “what’s the difference between range rover and hedgehog ?””..

any guesses ?

Hedgehogs have pricks on the outside, Range Rovers on the inside!

[LivingWithTheInlaws]

56 minutes ago, staintunerider said:

I recall the Sierra Cosworth was the Mk 2 Jag of it's day for those looking for a fast getaway...

I had a Sapphire Cosworth in 1996 when I was 24. In the late 80s and early 90s, the insurance premiums on those cars were nearly as much as the purchase price so the values dropped right down. By the mid 90s, Thatcham immobilisers were available that brought the premiums right down again but I don't think values recovered for a while. There were some bargains, although I got a lemon as the Cambelt failed after 6 months.

[Unmoderated]

Ah the good old days of an after market immobiliser coupled with a couple of modern day trackers. 

Some as simple as a switch in a hidden part of the car preventing the ignition circuit being completed. 

[mrpleasant]

A friend of mine lost his remaining parent a couple of years ago and blew the inheritance on a Range Rover Sport PHEV. He didn't tell me what it cost (too embarrassed, I think), but surely next to no change from £100k. He sent me a photo of it at the time and being somewhat mean-spirited I couldn't resist entering his reg in a car value checker on line recently. Conservative estimates suggest he's lost around £40k already. Since he owns a small fleet of vintage Range and Land Rovers as well, my eyes water at the thought of the annual expenditure on insurance these days. Ok, you can't take it with you, but for heaven's sake.

[Unmoderated]

51 minutes ago, staintunerider said:

I'll see your 20 year old hatchback and raise you a 31 year old hatchback GTi lol

I never meant it to become a daily driver but it is for now...I also use a steering lock across the steering wheel, unlike obviously all these range rover owners....

I am appalled at the price and unnecessary complexity of modern cars especially high end ones.....barber was telling me his Quasqai needed a new dash screen 5k.....5 flipping k...what ? Fortunately he had warranty...

Coming back from a friends near Wales down the M4 I over took my mates missus driving his range rover....sailing along for a few k surrounded by 40/50/100k vehicles....PCP has a lot to answer for...but sure the manufacturers love it!

 

Love a classic GTI! Though an older friend of mine stopped buying them as they kept getting nicked too lol.

I do wonder if these extended warranties are becoming like health insurance in the USA? Sister had a C-section over there and the bill was $72K! Apparently they give that a huge haircut if you're uninsured. What is charged for anything being swapped out on a car is a joke these days. £200 just to have my front pads and discs fitted (parts extra). Did it myself with some help from my bro and it took under an hour. 

PCP was the same as Northern Rock for house prices imho. Poured cheap and easy money into the hands of the HTB classes so they can have everything nice and new (and spend their lives ticked to the eyeballs).

[Habeas Domus]

15 hours ago, Bear Necessities said:

Nissan Leaf has been out since 2011, so the oldest of those are 12 years old which is quite a long time.
They don't combust anywhere near as often as petrol cars. even the old ones.

I appreciate that *perhaps* older cars might explode more often so you want to give it more time to compare, but when I say that the numbers aren't even close:

"A recent study by US insurer AutoinsuranceEZ found that...
Petrol cars had 1,529.9 fires per 100,000 sales...
EVS had 25.1 fires per 100.000." 

so 1500 vs 25.  I know which I'd rather have parked in the garage. (I don't have a garage)

That's orders of magnitude fewer fires. 
Not that readers of the mail or express would think that was the case based on the b*llocks they are fed.

Hybrid cars had 3474.5 fires per 100,000 sale;

petrol cars had 1,529.9 fires per 100,000 sales and

EVs had just 25.1 fires per 100,000 sales.

[nightowl]

1 hour ago, LivingWithTheInlaws said:

I had a Sapphire Cosworth in 1996 when I was 24. In the late 80s and early 90s, the insurance premiums on those cars were nearly as much as the purchase price so the values dropped right down. By the mid 90s, Thatcham immobilisers were available that brought the premiums right down again but I don't think values recovered for a while. There were some bargains, although I got a lemon as the Cambelt failed after 6 months.

I owned a 90s 'warm hatch' as they were called at the time - lively hatchbacks but not tuned up fully or anything so the insurance was doable.

It had a calculator style keypad for a pin number on the dash & a key to start it.  Over the years the four digits used would look worn on the keypad so identifiable...although not the order still😆

[The Angry Capitalist]

2 hours ago, staintunerider said:

I'll see your 20 year old hatchback and raise you a 31 year old hatchback GTi lol

I never meant it to become a daily driver but it is for now...I also use a steering lock across the steering wheel, unlike obviously all these range rover owners....

I am appalled at the price and unnecessary complexity of modern cars especially high end ones.....barber was telling me his Quasqai needed a new dash screen 5k.....5 flipping k...what ? Fortunately he had warranty...

Coming back from a friends near Wales down the M4 I over took my mates missus driving his range rover....sailing along for a few k surrounded by 40/50/100k vehicles....PCP has a lot to answer for...but sure the manufacturers love it!

 

Yes.

The standard has gone down massively especially over the last 5 years.

Money printing has made it hard for manufacturers to make profits.

Can't really use shrinkflation in the car market.

Changing from steel to plastic won't cut it either.

[Stewy]

2 hours ago, iamnumerate said:

Wasn't the problem the lack of sprinklers.

Sprinklers on electric cars...what could possibly go wrong. 

[Money Frugality]

20 hours ago, debtlessmanc said:

collegaue lives in Sheffield, tells me someone has tried to steal his motor bike again. Apparently battery angle grinders will go through any chain, even ones that cost £100's. This time he found it chain off lying down. Presumably the idiot had not realised if you drop it its almost impossible for one person to pick it up.

It has a tracker, usually they hide the bike somewhere nearby for a few days to see if someone tracks it. if not gets knicked for parts.

He has given up reporting it, the police not interested unless someone knifed etc.

True I also have 2 bikes chained up in the garage, I used to never leave them unattended without a chain unless in a large group or I could see it.

 

Rarely take the bike out when I won’t be leaving it anywhere which makes them toys rather than transport. Police aren’t interested and although I would use reasonable force to prevent if I saw it, I can’t rely on others to do so. Literally no point in theft insurance as if you claim your premium rockets. 

[Confusion of VIs]

11 hours ago, nero120 said:

So provide the link then, otherwise STFU. In any case, EV fires are far harder to extinguish than regular ICB fires (that are mostly caused by the 12v battery in any case, lol). Diesel is not particularly flammable under normal pressure.

There you go

The fire department identified the car which started the blaze, it was a diesel Range Rover.

Time for you to STFU.

11 hours ago, nero120 said:

"Investigators think the fire started in a Land Rover, and it’s thought to be accidental." - is that it?! Anyways sounds like the point you are trying to make is "ICBs catch fire too!!" lol ok.

Yes 20 times as ofter as EVs. 

[GenZ]

 

Car thefts are nowhere near as bad as the 1990s.  look back at the TWOC craze - XR2i  

I'd buy a Range Rover, if they made an full electric one like the full size Etron.  

[Orb]

8 hours ago, The Angry Capitalist said:

Can't really use shrinkflation in the car market.

I think the heated seats etc are subscription based nowadays lol.

 

[cdd]

I bought a second hand car in early 2020, directly from the person who no longer wanted it. Barely used, only 5k miles done, paid him £5k for it. Not only has the We Buy Any Car valuation increased by about 50% since then, it's significantly higher than what I paid for it.

No repairs needed at all, and no trouble with it. Just £60 yearly for MOT, and around £160 yearly for insurance.

Meanwhile there are people paying £600 a month for PCP and £40k end payments, or others being charged significantly more than the price I paid for my car just to insure their range rover for 1 year.

This is how I saved enough money to buy my own house without debt, and it's how I've continued to save ever since, the amount generating a significant tax free income from cash ISA accounts.

People should to learn to live within their means. If you spend or waste most of what you earn, how will you feel if that income were to ever stop and you had wasted it all?

Many in this world go one step worse than this. They're spending the money before they've even earned it, via debt. That's on things they often don't need, or could have gone for a much cheaper option.

 

Edited November 28, 2023 by cdd

[Orb]

47 minutes ago, cdd said:

I bought a second hand car in early 2020, directly from the person who no longer wanted it. Barely used, only 5k miles done, paid him £5k for it. Not only has the We Buy Any Car valuation increased by about 50% since then, it's significantly higher than what I paid for it.

No repairs needed at all, and no trouble with it. Just £60 yearly for MOT, and around £160 yearly for insurance.

Meanwhile there are people paying £600 a month for PCP and £40k end payments, or others being charged significantly more than the price I paid for my car just to insure their range rover for 1 year.

This is how I saved enough money to buy my own house without debt, and it's how I've continued to save ever since, the amount generating a significant tax free income from cash ISA accounts.

People should to learn to live within their means. If you spend or waste most of what you earn, how will you feel if that income were to ever stop and you had wasted it all?

Many in this world go one step worse than this. They're spending the money before they've even earned it, via debt. That's on things they often don't need, or could have gone for a much cheaper option.

 

Me too. In 2021 paid £1200 for a 21 year old Nissan Micra with 26k on the clock and one owner from new. All costs, fixed costs plus petrol, totals around £1500 per year. The particular model is the K11 Micra. They're getting rare now, and prices have risen since I bought it. It's got 38k now but is already worth more than I paid for it. Plus, it's not had a single issue in the 2+ years I've owned it. Someone recently asked me if I wanted to sell it to them. 

Work mates take the piss, a few questioned my sexuality, and one even scratched his head and asked "how on earth can you be happy driving that?". I usually just smile and tell them real men drive Micras 😄. But the reason I'm happy is because the money I have saved over the years (I've had several old Micras) is now enough to buy me a small bungalow in county Durham without a mortgage, meaning I can practically semi-retire now aged 44. Buying a house without ever having to borrow from a bank has been one of my ultimate ambitions, and driving old but very reliable cars has helped me achieve it. 

I once had one nice flash car. It was a money pit, and it taught me that no matter how nice a car is, if you feel an inner emptiness in life, you will still feel it, even if you're driving a Ferrari. I go for spiritual and soul fulfillment, and cars never help achieve that. Quite the opposite. 

My Micra is currently the best asset I've got and I'm in love with it. I smile every time I drive it, and I mean that. It gets me anywhere, it's warm, dry, and is beautifully simple. The money it save me is priceless.

[cdd]

2 minutes ago, Orb said:

Me too. In 2021 paid £1200 for a 21 year old Nissan Micra with 26k on the clock and one owner from new. All costs, fixed costs plus petrol, totals around £1500 per year. The particular model is the K11 Micra. They're getting rare now, and prices have risen since I bought it. It's got 38k now but is already worth more than I paid for it. Plus, it's not had a single issue in the 2+ years I've owned it. Someone recently asked me if I wanted to sell it to them. 

Work mates take the piss, a few questioned my sexuality, and one even scratched his head and asked "how on earth can you be happy driving that?". I usually just smile and tell them real men drive Micras 😄. But the reason I'm happy is because the money I have saved over the years (I've had several old Micras) is now enough to buy me a small bungalow in county Durham without a mortgage, meaning I can practically semi-retire now aged 44. Buying a house without ever having to borrow from a bank has been one of my ultimate ambitions, and driving old but very reliable cars has helped me achieve it. 

I once had one nice flash car. It was a money pit, and it taught me that no matter how nice a car is, if you feel an inner emptiness in life, you will still feel it, even if you're driving a Ferrari. I go for spiritual and soul fulfillment, and cars never help achieve that. Quite the opposite. 

My Micra is currently the best asset I've got and I'm in love with it. I smile every time I drive it, and I mean that. It gets me anywhere, it's warm, dry, and is beautifully simple. The money it save me is priceless.

Good going. Getting a home without having to become a debt slave, that's well worth the sacrifice you made to drive a cheaper car. To even call it a sacrifice seems a bit weird, but that's the world we live in, where some people would rather be dead than drive an old car.

I got lucky with mine. It was only 5 years old when I bought it, and in great condition, Toyota Auris. The guy was going to sell it to a garage but I offered him 5 grand, even thought about offering 6, but started with 5 and he took it.

[Orb]

28 minutes ago, cdd said:

Good going. Getting a home without having to become a debt slave, that's well worth the sacrifice you made to drive a cheaper car. To even call it a sacrifice seems a bit weird, but that's the world we live in, where some people would rather be dead than drive an old car.

I got lucky with mine. It was only 5 years old when I bought it, and in great condition, Toyota Auris. The guy was going to sell it to a garage but I offered him 5 grand, even thought about offering 6, but started with 5 and he took it.

Nice one! I wholeheartedly endorse your approach. 

Not a sacrifice for me mate, but a conscious decision and a pleasure. Old cars are really charming, and I love character in anything. Been driving since 1996 and I've owned just one car built in the 21st century. That was the flash money pit BMW. 

Regarding your comment about rather being dead than driving an older car - that's the sad modern condition afflicting half our society. People's egos won't allow them to do certain things. It's really sad. If a lot of people spent as much time soul searching and enriching their spiritual wealth as they did trying to create a debt-fueled positive impression of material wealth, we'd have a utopia. 

Personalised numberplates that begin with BD55 are a case in point, especially on black Range Rovers. In fact, personalised numberplates per se are a case in point. I've ironically considered putting genuine Lamborghini badges on my car.  

Edited November 28, 2023 by Orb

[hotblack42]

7 hours ago, Orb said:

Personalised numberplates that begin with BD55

“Why did you pay for bee dee fifty five plate”

”Boss innit?”

”err, no.. well perhaps, to people like you, if they squint, from 100m away”

Can’t stand insecure wannabees.

if you want a interesting plate, get yer wallet out & pay proper cash.

Personal plates that only work from a distance or by using black screw covers or weird spacing are so lame.

Do, or not do.

[MancTom]

On 28/11/2023 at 07:54, staintunerider said:

Like unmortgageable real estate falls to pennies on the dollar as the pool of potential buyers dwindles...

And some still think demand is key....

Blimey 105k on an overpriced vehicle and as for the article suggestting TPFT is that a wet behind the ears journo just out of school and with no experience of motoring , insurance etc ?

I can't believe someone would spend 100k on a car and then just park it in full view on their drive ready to be taken....

[MancTom]

10 hours ago, Orb said:

Me too. In 2021 paid £1200 for a 21 year old Nissan Micra with 26k on the clock and one owner from new. All costs, fixed costs plus petrol, totals around £1500 per year. The particular model is the K11 Micra. They're getting rare now, and prices have risen since I bought it. It's got 38k now but is already worth more than I paid for it. Plus, it's not had a single issue in the 2+ years I've owned it. Someone recently asked me if I wanted to sell it to them. 

Work mates take the piss, a few questioned my sexuality, and one even scratched his head and asked "how on earth can you be happy driving that?". I usually just smile and tell them real men drive Micras 😄. But the reason I'm happy is because the money I have saved over the years (I've had several old Micras) is now enough to buy me a small bungalow in county Durham without a mortgage, meaning I can practically semi-retire now aged 44. Buying a house without ever having to borrow from a bank has been one of my ultimate ambitions, and driving old but very reliable cars has helped me achieve it. 

I once had one nice flash car. It was a money pit, and it taught me that no matter how nice a car is, if you feel an inner emptiness in life, you will still feel it, even if you're driving a Ferrari. I go for spiritual and soul fulfillment, and cars never help achieve that. Quite the opposite. 

My Micra is currently the best asset I've got and I'm in love with it. I smile every time I drive it, and I mean that. It gets me anywhere, it's warm, dry, and is beautifully simple. The money it save me is priceless.

Micro's seem amazing. My mum has one, almost 20 years old, and she never seems to have any fails on MOTs.

I used to have a mini one, also 20 years old, and every year something had to replaced to get through the mot (and often later on in the year too would hear a noise, and have to replace something).

Golf mk7 now, so far nothing has needed doing (but it's only 6 years old). May keep it for a good 15-20 years!

[The Angry Capitalist]

14 hours ago, cdd said:

I bought a second hand car in early 2020, directly from the person who no longer wanted it. Barely used, only 5k miles done, paid him £5k for it. Not only has the We Buy Any Car valuation increased by about 50% since then, it's significantly higher than what I paid for it.

No repairs needed at all, and no trouble with it. Just £60 yearly for MOT, and around £160 yearly for insurance.

Meanwhile there are people paying £600 a month for PCP and £40k end payments, or others being charged significantly more than the price I paid for my car just to insure their range rover for 1 year.

This is how I saved enough money to buy my own house without debt, and it's how I've continued to save ever since, the amount generating a significant tax free income from cash ISA accounts.

People should to learn to live within their means. If you spend or waste most of what you earn, how will you feel if that income were to ever stop and you had wasted it all?

Many in this world go one step worse than this. They're spending the money before they've even earned it, via debt. That's on things they often don't need, or could have gone for a much cheaper option.

 

Yep.

It's crazy.

I purchased my 20 year old Toyota in December 2021 right in the middle of the post lockdown buying frenzy for £2,000 with little mileage.

Put 35,000 miles on it since then and yet it has actually increased in value by 25% last time I checked on Auto Trader for same car and mileage etc.

Insane!

Prices will come down a lot in the next 2 years though. At least I expect them too.