Old car - economically viable

AdrianHi

This "old devil you know" is a big bag of scrap. The gearbox has issues, there is rust and list of other things so long it fills the screen when I read it.
Somewhere in the region of £700 to £1000 would be the right off point, but what about the other much lower running costs associated with a younger car? These can offset depreciation too.
A Subaru Legacy Estate Boxer Diesel bought at a year old or more depreciates by about a one off amount of £3500 for the difference between purchase and trade in price and then about £1400 a year after that and returns in the region of 45-50mpg (I got 49mpg on the OBC on a 1 hour test drive). It's under warranty for a while longer so no repair bills to start off with.
In the long run switching to the newer Legacy might be the more expensive option, but it's not by a wide margin, though you do have to find a way of funding the £15K-£16K purchase price.
Move away to something like a Skoda Octavia Diesel 4x4 which can be picked up for just a few thousand and you will save your self a lot of money and grief compared to keeping that 19 year old Legacy going.

GiveItBack

have you considered using the scrappage scheme on this one, haggling hard and selling your other car?

lisyloo

have you considered using the scrappage scheme on this one, haggling hard and selling your other car?

There is no way my husband would want to sell his car.

But...............Is there any reason I couldn't buy a brand new one on scrappage and then sell it on?
Just in case it's been lost, my decision would probably be not to buy another car (as we don't need 2 cars and have motorbikes as well).

If I bought something popular and sold it on, then would I be able to make a decent profit by way of the scrappage scheme?
Anything illegal?
Any risks?
Clearly there's a risk of not being able to sell it or not getting the price I want for it.

If the MOT needed at order time or pick up time?
If it's the latter then clearly I would need to spend enough to get my car through the MOT (but I could do the absolute min e.g. exhaust bandages etc.).

Is this a runner??

BTW - I'm not suggesting I would do anything illlegal. I've jsut not researched it as yet.

If it's a runner then what is the most popular car to do it with?

BTW - mechanic I spoke to on the phone reckons we are looking at exhaust, clutch kit and CV/driveshaft so none sounds cheap, but will look at it on Monday plus find out whether anything else needs doing.

hartcjhart

just get rid of the thing,you already say you dont need 2 cars so why keep on about repairing it

lisyloo

just get rid of the thing,you already say you dont need 2 cars so why keep on about repairing it

It's convenient for the situations where we do use two cars.
There is a big gap between need and convenience. It's not quite black and white.
It also has a tow bar which we use for transporting two bicycles on a rack.
We don't currently have another way of transporting two bikes, so it's handy for that.

I also get 40p per mile for using it on business.
I calculate that's 20p profit.
This hasn't come up before but if I don't have a car and go by train then I would lose that profit (which covers a good proportion of my costs some years).

I've kept it because to date it has been zero depreciation and cheap on insurance.
The extra parts etc. have outweighed the alternatives i.e. higher depreication, so that means so far it's been financially cost effective.
The profit I've had from travelling on business has also paid for some of my costs.
The profit would potentially be smaller on a car that depreciates and would dissapear if I jsut get my train ticket paid for.

But I do recognise that when the bills get big it has to go.
It purely a financial thing for me.

AdrianHi

lisyloo wrote: »

I also get 40p per mile for using it on business.
I calculate that's 20p profit.

It's going to be about 15p per mile to fuel your 30mpg petrol car, I think it takes more than another 5p per mile for the rest of the costs (and I do measure these things on other cars), but a lot depends on how many miles you are doing.
In the long run I think putting up about £3K to £4K on a Skoda Octavia Diesel possibly even a 4x4 version is your best bet, but you've had this Leggy so long I sense your finding it difficult to let go of it.
Depreciation is only going to be a few hundred a year on that Skoda and you will get that back (and then some) in reduced fuel, maintenance, servicing, insurance and possibly tax disk costs if the Skoda is young enough to come under the new emmissions based charging.

I think the bills have become big on this Leggy.

lisyloo

I think it takes more than another 5p per mile for the rest of the costs

I don't, but if you can list what you think these other costs are then we can debate it.
I don't think my tax, insurance or MOT went up at all, but of course there is tyres and stuff like that.
I'm not sure the 5p would be a show stopper though.
It would still be roughly 50% profit.

In the long run I think putting up about £3K to £4K on a Skoda Octavia Diesel possibly even a 4x4 version is your best bet

Don't really want another car, but if I did I'd take a Peugeot 206 cabriolet coupe.

but you've had this Leggy so long I sense your finding it difficult to let go of it.

Not at all. Just doing the sums.

Depreciation is only going to be a few hundred a year on that Skoda

I'm budgetting £1K depreciation for the Peugeot.
If I did get a car then that's the notional depreciation budget.

I think the bills have become big on this Leggy.

I think you are probably going to be right, but I would rather wait till Monday and get the figures from the mechanic.
Or to be truthfuil my husband would.
I'd go for scrapping it (no more female comments please )
Its not that I can't stand up to my husband but we prefer to consult with each other, and would rather pay a mechanic for a hour or two and KNOW for sure that we've definitely made the right decision rather than there be any lngering doubt or possible resentment between us.
We've been married 11 years now, so making a joint decision is worth more to me than a hour ot two of a mechanics time to get the numbers.

goldspanners

lisyloo wrote: »

Don't really want another car, but if I did I'd take a Peugeot 206 cabriolet coupe.

in this case i would definatly stick with the current vehicle, they look good but they are crap. do some research on them, they leak, they stink, they break easily.

edde

anewman wrote: »

Only with the front ones. Rear ones are advisory only. I know as mine didn't open from the outside. Simple fix though, door card off and a rod costing £1 and it was sorted.

the mot only requires the doors to be openable one way round it is to leave the windows open and the door can be opened from leaning inside the car hence a pass

lisyloo

Cheers Eddie.
I'm grateful for everyone's input but some of the info on this thread has not been quite correct.
I've not been to dodgy MOT garages.

The fact is that the front disk, rear door, oil leak, roof leak, gearbox, fuel filter and rust
have cost virtually nothing so far and don't represent MOT issues or safety factors.
I only mentioned them because they could represent future problems.

So whilst the impression may be of something that's expensive to maintain, I have spent virtually no money on these issues and mentioned them because of the possibility of future failure.
So I think it may appear more costly that it actually has been (PAST tense only of course).

So far it's been a very cheap and reliable car (last breakdown may 2005) with little depreciation, low insurance costs and no ding/scratch repairs or worries.
I am NOT emotionally attached although I do believe it's well built and reliable.
It's just a case of working the numbers and comparing with the alternatives.

I am prepared to try living on one car, however it's not black and white.
There are times when it will be inconvenient.
I've been without a car before and I know what it was like trying to lug heavy shopping bags around.
However you have to be objective and deicde that it might be worth gettting a few taxis now and again to save around £1500 per year.