Capri2.8i wrote:
3) "Bangernomics" as I think DIY dubbed it. Probably the cheapest of all 3. Find a good solid car for less then £300 and that's all you can lose in depriciation! If it lasts 6 months it's probably been financially a good move. However, I've know some cars go on for 2 years and longer.
"Bangernomics" certainly has worked for this family for the last 3 years mate.
In May 2002 I picked up an M reg Citroen Xantia 1.9 Diesel with 250,000 miles on the clock for £400. Sure it had a few "battle scratches & dents" on it, but it was still road legal & perfectly functional.
Insurance was a mere £223 per annum, and an engine service (every 10,000 miles) was £22.50 inc VAT. When we first got it fuel was costing me 34p per litre, and this rose to an outrageous 42p per litre by the time we had got rid of it.
The only part I had to buy for it in the 3 years we had it was a clutch cable which cost £30.
I sold it 3 weeks ago for £100, which means that 3 years of motoring cost me £487 overall (not including insurance, fuel, or servicing).
The new car that replaced it is a 2000 (V) reg Mondeo 2 litre Zetec.
It is fully loaded with electric everything, and I absolutely love the traction control feature which lets you take little "liberties" every now & again
Dealer retail on one of those is £3200, I paid £1200 for it which included £700's worth of ICE (it was cheap because I got it from my brother).
It has a couple of "pinprick" dents in the NSF wing, and one scuffed alloy on the NSF. Even with this minor damage, I reckon I can drive it for a year and still claw back £1800 without a problem at the end of it.
daveyboy wrote:
Running an older car is cheaper if you service your own cars and you buy specialist cars that don't really depreciate. For example I've lost £300 in 18 months on my 200SX,
Don't wish to burst your bubble davey, but a 200SX doesn't qualify as a "specialist" car.
A 51 model costs £24,700 new, and you can pick that same 51 model up now (4 years on) for £4,600 if you shop around (that equates to a £5,000 per year loss).