Early-retirement wannabe

lisyloo

But your annual service is going to cost you. Things wear out when cars get that old- expensive things.

In general no.
Firstly I don't tend to have an annual service and because it's a very unsophistciated model I get away with that.
But in the main most of things I've had to do (like tyres, exhaust, cam belt) would have to be done on ANY car unless of course you keep changing it for a new one, but that's in general much more expensive e.g. thousands not hundreds. 4 good tyres for example were £135.

The type of car you have does make a massive difference, for example my corsa was £135 for 4 tyres and my husbands legacy 3 ltr B spec was about £800.

Triumph13

What always amazes me is the disconnect some people seem to have between the value of their car vs the value of their house. At the extremes I've known of £50k cars parked outside ex-council houses in the Midlands worth not that much more than the car. In several cases a pair of cars that together clearly cost more than the house was worth.
I will admit I am probably an extreme example in the other direction as my last 2 vehicles averaged less than 0.5% of my house value.

runninglea

Triumph13 wrote: »

What always amazes me is the disconnect some people seem to have between the value of their car vs the value of their house. At the extremes I've known of £50k cars parked outside ex-council houses in the Midlands worth not that much more than the car. In several cases a pair of cars that together clearly cost more than the house was worth.
I will admit I am probably an extreme example in the other direction as my last 2 vehicles averaged less than 0.5% of my house value.

My friend has just bought a Mercedes C63 - must be worth 70K parked on the front garden/drive of a two bed terraced:rotfl:

AnotherJoe

lisyloo wrote: »

In general no.
Firstly I don't tend to have an annual service and because it's a very unsophistciated model I get away with that.
But in the main most of things I've had to do (like tyres, exhaust, cam belt) would have to be done on ANY car unless of course you keep changing it for a new one, but that's in general much more expensive e.g. thousands not hundreds. 4 good tyres for example were £135.

The type of car you have does make a massive difference, for example my corsa was £135 for 4 tyres and my husbands legacy 3 ltr B spec was about £800.

Or you get get a car that doesn't need legacy junk like that

kidmugsy

Triumph13 wrote: »

my last 2 vehicles averaged less than 0.5% of my house value.

Our current car cost us less than 1%, I'd think. (Short of selling the house I can't be sure what it's worth.)

frugal90

my car a fiat panda, bought 1year ago with 700 miles less than a year old for £5000- cheap as chips to run. Will run for another 4 years then buy something similar again.

michaels

kidmugsy wrote: »

Our current car cost us less than 1%, I'd think. (Short of selling the house I can't be sure what it's worth.)

0.25 for us, same house in London and it could easily be less than 0.1% but then a house is capital and a car is not.

ibizafan_2

My OH and I run two Hyundais which are eight and nine years old. Mine was the only brand new car I’ve ever owned which was purchased on the old scrappage scheme. We have no intention of upgrading them yet. We’d rather spend our money on travel than cars. Further to other posts, neither of my sons are interested in inheriting my money, and both are far better off than I was in my thirties with much higher incomes.

bluenose1

ibizafan wrote: »

My OH and I run two Hyundais which are eight and nine years old. Mine was the only brand new car I!!!8217;ve ever owned which was purchased on the old scrappage scheme. We have no intention of upgrading them yet. We!!!8217;d rather spend our money on travel than cars. Further to other posts, neither of my sons are interested in inheriting my money, and both are far better off than I was in my thirties with much higher incomes.

We have 2 Hyundai's. I upgraded my 7 year old bought on the scrappage scheme i20 to an i20 Go in 2016. The excuse I used to myself was the heater was broke and it was out of warranty. Think the list price for the i20 go was £11k and cos we used their finance scheme got £1500 off price of car. They were obviously thinking that they will get about £4K in interest. However we paid the finance off within the cooling down period and as per my research never had to pay back the £1500. Did the same last year when my oh changed his 9 year old Kia ceed to a Tuscon.
Like the 5 year warranty on the Hyundai's.
Though must admit bought both of these before my pension lightbulb moment, so would not be as quick to upgrade again. Plus the Tuscon is a real petrol guzzler so not our wisest investment.

ibizafan_2

To think, I was against buying Korean cars for years until my OH persuaded me to. Now it’s Hyundai all the way for both of us.