At what point do I dump my 10 year old Corsa?

AdrianHi

tomstickland wrote: »

Considering it's a free car, who cares if you spend £1000 per year on the MOT? Compared with the finance costs and depreciation of a new car.

If you are sitting in a 10 year old Corsa costing £1000 a year in repairs then you can afford to be sitting in a 6-12 month old Corsa cost 0 in repairs but depreciation and finance charges adds up to actually under that £1000 figure.
The only reason doing this would make sense is if you could not borrow money at a sensible rate due to bad credit history and you had no savings.

Otherwise where is the sense in sitting in a 10 year old car costing you excactly the same amount per year as a 6-12 month old one?

No such thing as a free car

Anyway this 10 year old Corsa is not costing a lot to keep going so it's a keeper in my opinion.

tomstickland

We're saying the same thing, though your numbers are more realistic: look at the total cost of ownership per year.