Cars... the discussion continues

[just_david]

Tax is almost a mute point tbh, yes an older car is more expensive to run, but it'd take years to ever pay off the difference in purchase costs.

 

Buying a new car to save money is like invading a country in the name of peace

[Patrick]

It isn't a moot point really, seems as tax is non transferable and an old car might only last 1 month before the gearbox fails etc... I'm not trying to get in an money saving argument i'm just saying it surely is an issue.

[Oaktech]

Do you get stung with tax on your older cars?

 

Swings and roundabouts... You can't rock a 3.5ltr V8 under modern tax rules without bankrupting yourself, pre 51 plate it's just a flat £200 and a bit.

 

Most of my bangernomics cars are just into modern tax rules and the ones I usually drive are around the same as their modern equivalent because that is the sort of car I choose to drive.

 

51 plate 2.0 hdi c5, 110bhp VED band G £180

 

08 plate 1.6 hdi c5 110bhp VED band G £180

 

W plate Audi A6 2.5TDI 150brake flat fee VED £230

04 plate Audi A6 2.5TDI 150brake VED band J £265

[Oaktech]

It isn't a moot point really, seems as tax is non transferable and an old car might only last 1 month before the gearbox fails etc... I'm not trying to get in an money saving argument i'm just saying it surely is an issue.

 

If it lasts a month, you scrap it, DVLA registers it as scrap and issues you a refund, or just cancels the payment if you pay tax monthly. It isn't really an issue.

[davethetekkie]

With older cars I get tax monthly; that way if the worst happens I'm no more than £20 out of pocket RE road tax when I switch.

 

I had an X plate Volvo S40 that did a 60 mile daily trip for me for 2 and a half years. Spent £400 on that car (was an old taxi from my father in laws company) and then someone ran into me. Insurance paid out £375 and all it needed was one replacement alloy wheel (I bought a full set at £100 for the good tyres on them). It ran for another full year and would have give longer had I not made the mistake of parking it up so my wife could run her first car and build up some no claims. Figure out the (theoretical) monthly payment even without the payout and the lack of depreciation left on it and it soon makes sense. Working air con, plenty of passing power and decent economy if you're light on the pedal.

 

Our current car is a 1997 (really) Ford Maverick. It's £300 worth of rusty old bucket, but it's reliable and worth far more than we paid for it (especially with the £600 of mud terrain tyres that are on it right now) and surprisingly running locally costs about the same to run as the S40 (painful watching the fuel gauge on the motorway though). Given the choice between saving for a deposit on a house or paying monthly for a car? I'd take the rolling scrap any day of the week and use what I'm NOT paying a landlord (because my £500 monthly rent would be a £350-ish mortgage according to the calculators I've used) on something with shiny alloys. Would I like something newer? Sure, but at the rate newer cars depreciate it seems like a mugs game to me.

[twin--turbo]

So for our clio owner, get an oil service and run it till the cam belt fails.

 

Probably get a couple of years for 200 input. At which point you saved 4k+

 

My Jag cost 850 (4.0 V8 S-type) a year ago. It managed 8 months before a catostrophic engine failure. But i have an engine to go in... even so luxury performance motoring for £100 a month up to the... and it will reduce in cost when back in service.

 

To tide me over i bought a 2000 1.8 Zetec focus for 300. A window winder, caliper and rear hub cost £65 thats since october. Going well now and MOT to may so hopefully get 7 months for under £400, and have something to sell in the end.

 

TT

[DCUK6]

Just got myself a 2001 Astra Free of charge

 

Cost less than £100 in repairs and its sweet.

 

 

Other car is a Fabia vRS, just had a new turbo and OMG its so quick now. Gotta sell as the turbo cost has done me in.

[arwen]

So for our clio owner, get an oil service and run it till the cam belt fails.

And potentially cause an accident, possibly with one or more vehicles involved depending what road I happen to be on? No thanks.

I've seen belts go, it is not pretty, there is little warning. Aside from the fact I would be left it no trade in (and probably have to pay someone to take it way!). I will not risk other peoples, or my own well being by leaving it until it goes bang.

The Clio will be fixed properly, or traded in/sold.

 

and I don't understand why people would want to continue to pile money into an old banger!!

 

I like new things, I can afford it, so why not. Don't drink, smoke or gamble. Cars are my thing!

 

I'm sort of this frame of mind too. I keep things until they start to become a more hassle than they are worth to me.

I've had the Clio for around 6 years now. From 11500 miles to it's current 105500. It is only in the last few years it has started to cost me, and cause me hassle.

 

I can never see me buying a brand new car however, the instant depreciation terrifies me! My motorcycle is the only exception I have for this. Even now there are people selling used bikes for more than I paid for my brand new one.

[3s-gtech]

Of course, if you really want to buy a new car - buy one! Getting something on finance can be a massive black hole for cash which may not be ideal if you're saving for a mortgage, and bear in mind that it'll be time to start a new deal when you say you're looking to buy. It is your money of course, and it sounds like you have made up your mind.

 

Personally, I have lots more fun buying older cars. I spend the money maintaining them properly (my daily has had a lot spent on it over four years) but still cheaper than buying new depreciation wise or on finance. I'm also saving for a house, so not having that commitment is a big bonus.

[sted]

never been a fan of credit but did it once to get rid of a lemon of an escort borrowed £1500 for a year thats it all other cars have been paid cash (well plastic as I aint carrying round lots of real money). Rather than paying x a month I just save it and don't pay interest. Yes cars depreciate esp new ones (my ds3 was the only car ive ever had from new and it lost 10k ish in 4 years) but you cant take it with you and at least ive never spent any serious amount on interest and taken that double hit. I just couldn't drive round in a banger (yes if I thought I could live with a decent mk2 escort I would but it would be a no expense spared type of car)

I can see the attraction of pcp though treat it like a rental get bored and swap it out but with owning my car if I lose my job its something to sell if needs be

[twin--turbo]

(my ds3 was the only car ive ever had from new and it lost 10k ish in 4 years) but you cant take it with you

 

I have spent £16K in 11 years on running 2 vehicles. For a good portion of that 1 has been a large people carrier and the other a performance executive of some sort. Although I am more than capable of doing anything maintenance wise, virtually all work has been left to the garage.

 

And I would rather put my money into property. Get my mortgage paid off. £200 a month extra off a mortgage will significantly reduce the interest paid.

 

TT

[just_david]

Y'know, instead of financing the car you could get a bank loan?

The rates can be far far better. It certainly was for me, £5k loan instead of £5k car finance was almost a grand cheeper over the 5 years.

Less early repayment fees too.

 

wewantanycar (I've used em 3 times, got a better deal every time by not having a trade in) the clio, get a bank loan, turn up to a dealer with £8k in cash.

[GuyJD]

I like new things, I can afford it, so why not. Don't drink, smoke or gamble. Cars are my thing!

That is the exact same line I use when friends and family inevitably say "Why did you buy that?"

 

I do love piling money in to an old banger too though.

[sted]

I have spent £16K in 11 years on running 2 vehicles. For a good portion of that 1 has been a large people carrier and the other a performance executive of some sort. Although I am more than capable of doing anything maintenance wise, virtually all work has been left to the garage.

 

And I would rather put my money into property. Get my mortgage paid off. £200 a month extra off a mortgage will significantly reduce the interest paid.

 

TT

im not capable of doing the maintenance on cars though so costs on keeping an older car on the road stack up if you arnt just paying parts but parts and labor. Also no car basically equals no job as i work multiple sites a day i might just get away 2 days with a bike (but a id have to buy one and b the route has hills and im from Doncaster we dont have hills there so im not used to cycling anywhere thats not flat)

 

as others have said i dont drink/smoke/gamble and tbh im treating my mortgage like any other bill just pay it and put it out of mind yes i know long term putting the money ive wasted in depreciation over the years would of paid off a large chunk of my mortgage but you cant take it with you ive not got nor do i plan to ever have kids so does it actually matter?

 

Apart from console gaming and cars i really spend very little money anyway so why not throw it at cars i can enjoy?

[Geoff]

My previous car was a '96 Ford Fiesta which I bought for the princely sum of £500 in 2003. It had the mandatory engine swap from a Ford Puma (taking it from 1.1L to 1.7L with fuel injection) and obviously drove like a Go Kart. Much hilarity was had chasing down German engineering in the fast lane on the motorway. Sadly it failed it's MOT in September due to having holes in the rear chassis big enough to put your hand in. The rest of the chassis being mostly welding joints I decided enough was enough.

 

Fortunately I had prepared for this and saved up some cash and decided to get a 'proper' car. I now own a 2010 BMW 320d M Sport (E90). There is hardly anything wrong with it. However, the tyres (Kenda?!?!) it has come with are terrible and are going to get changed out to something a bit more premium. As much fun as it is scaring everyone to death by drifting it round the motorway junction roundabout on the daily commute I imagine I'm going to upset the plod eventually.

Edited February 10, 2016 by Geoff

[Earthling]

I've seen a beautiful SLK on Autotrader, been watching it for six months now. it was taken off for a week, but reappeared with a price reduction of £400. Guess they thought they'd sold it. It's in a used car dealer, somewhere north of Luton.

 

And I love it, I want it and I would sell my children into slavery for it. They're grown-up now anyway, so it wouldn't matter.

 

I'd post a link but I'm afraid someone else will swipe it will I'm trying to cobble the money together.

[just_david]

to be fair, if its been listed for that long and not sold, there's probably a reason.

Its either overpriced, or something is very wrong.

[Davit2005]

I've seen a beautiful SLK on Autotrader, been watching it for six months now. it was taken off for a week, but reappeared with a price reduction of £400. Guess they thought they'd sold it. It's in a used car dealer, somewhere north of Luton.

 

And I love it, I want it and I would sell my children into slavery for it. They're grown-up now anyway, so it wouldn't matter.

 

I'd post a link but I'm afraid someone else will swipe it will I'm trying to cobble the money together.

 

Hired a SLK 200 over a weekend once and they are nice drives, had the luxury on a nice summer bank holiday. Mine didn't have parking sensors which didn't turn out to be too much of issue even though had to parallel park in front of house a number of times, seemed really easy to manourvre.

Edited February 10, 2016 by Davit2005

[Oaktech]

I've seen a beautiful SLK on Autotrader, been watching it for six months now. it was taken off for a week, but reappeared with a price reduction of £400. Guess they thought they'd sold it. It's in a used car dealer, somewhere north of Luton.

 

And I love it, I want it and I would sell my children into slavery for it. They're grown-up now anyway, so it wouldn't matter.

 

I'd post a link but I'm afraid someone else will swipe it will I'm trying to cobble the money together.

 

Bought my ex an SLK when her Rover 25 died in 2008 She fancied something a bit different and with some get up and go... Found her a bright yellow S reg 2.3 kompressor with a removable hardtop for £1500. She was still driving it until 2 years ago when someone drove into it.

[Earthling]

@davidcs Over-priced, I think, more than anything. Six and a half grand, 10 years old, think it must have been one of the first new-shape models. Very low mileage for the age. A grand cheaper and I'd snap their arms off for it.

[NB9457]

Must agree on the finance thing, whilst appealing, I'd feel a bit robbed when I give it back.

 

Looked into all the other week when my car got wrote off and ended up buying a Lupo GTI, probably one of the best GTIs ever made. It's quick, has loads of extras, cheapish to run and it just looks so cool. They're not mega cheap (800ish in the Uk made), but they're holding value and going up.

 

I love it.

[twin--turbo]

im not capable of doing the maintenance on cars though so costs on keeping an older car on the road stack up if you arnt just paying parts but parts and labor.

 

If you read my post I say most work is left to the garage. but to be honest there's not been a huge amount to do.

 

16K Two cars 11 years, buy, sell , maintain.

Current assets ~£2K

 

And I am most defiantly a car person.

 

I have a kit car in progress, a project sierra ( been a project for 15 years) owned all sorts things ( BMW, Merc, Jag, Ford , Volvo, V6 , V8, 5 Cyl Turbo)

 

TT

[arwen]

Y'know, instead of financing the car you could get a bank loan?

The rates can be far far better. It certainly was for me, £5k loan instead of £5k car finance was almost a grand cheeper over the 5 years.

Less early repayment fees too.

 

wewantanycar (I've used em 3 times, got a better deal every time by not having a trade in) the clio, get a bank loan, turn up to a dealer with £8k in cash.

 

My bank actually do car finance, which is working out about £400 cheaper than a normal bank loan, and around £1200 less than car finance from a dealer. Sometimes I do like my bank :-)

 

Went to the garage last night to look over the car more, read it's paper work and see what I made of it. Car done 9k miles in its first year, had a service, then no service until this year at 13k miles (so no service in 2 years). In the last year it has only done 500 miles according to its MOT. This, combined with the (fixable) damage made me not willing to pay the £8k for it. Tried to get the dealer to take some off, or increase my trade in but they were not having it so I left.

Will be keeping my eye out for one of a similar spec as it was a lovely car to drive.

 

Might try the wewantanycar thing. Never gave them much though to be honest. Party as I don;t really want to be without a car. But then if I wait until the warmer weather I could probably do without a car for a few weeks.

[Davit2005]

My bank actually do car finance, which is working out about £400 cheaper than a normal bank loan, and around £1200 less than car finance from a dealer. Sometimes I do like my bank :-)

 

Went to the garage last night to look over the car more, read it's paper work and see what I made of it. Car done 9k miles in its first year, had a service, then no service until this year at 13k miles (so no service in 2 years). In the last year it has only done 500 miles according to its MOT. This, combined with the (fixable) damage made me not willing to pay the £8k for it. Tried to get the dealer to take some off, or increase my trade in but they were not having it so I left.

Will be keeping my eye out for one of a similar spec as it was a lovely car to drive.

 

Might try the wewantanycar thing. Never gave them much though to be honest. Party as I don;t really want to be without a car. But then if I wait until the warmer weather I could probably do without a car for a few weeks.

 

Tried the we buy any car thing for my last car, it doesn't suit everyone. They offered me £50 for my 1997 V40 T4, so I whacked it on eBay and sold it outside eBay (to save the fees) for about £450 which is what I paid for it a year earlier and with additional 8,000 miles on the clock.

 

Yes agree it is pretty hassle free selling though.

[eyetea]

Mum's got herself a new car, and I'm getting a hand me down

 

'06 1.3 Diesel Yaris, 100K on the clock - Parent's have owned it from new and been fully serviced every year.

 

Told my friend who I brought my '00 Fiesta off he has first dibs, but if he doesn't want it back it's going up for £150 if anyone is interested! Driver's door doesn't open from the inside, and it has a bit of a rattle from the N.S.F. but otherwise has been fine!