How much did you spend on your car

glasgowdan

I paid £2.6k for my almera June 2008 and have done 50k on it since then. I expect to spend £500 a year on the outright purchase price of a car so I want 5 years from this one (i.e. 2 more). That's a lot cheaper than HP, leasing, etc. It's been a superb car. So I guess I should consider £500 a year, somewhere between 0.5-4% of income.

OR

Somewhere between 2.5 and 20% of income in one year, once every 5 years!

(Keeping my income details private here!)

There is also a work van which is again bought outright, but that's a seperate issue and is a business tool really rather than a vehicle as such.

I know someone who is planning to spend £2k on a respray because there are some light scuffs on the bumpers. Cars mean a lot to some people! I can't understand this though - they are metal donkeys and only serve the purpose of moving our bodies between places.

*cassius*

My first and only car a 53 reg, VW 1.4 Golf, bought in june 2004 for 9k with 9000 miles on the clock, just about to hit 90'000 in a couple of months, will run it into the ground before i sell it hopefully not for another 5 years though, then i will probably buy a car for around 5k and see how long that will last me.

glasgowdan

Definitely a theme going here! The current car will get relegated to 'banger' when something goes wrong with it too heh!

mcjordi wrote: »

right ill list mine:
1. first car 1994 L escort 1.4 (cost £100)- scrapped for £40 (had it about 8 months)
2. micra 1litre G reg paid £100 for it - had 1 day i really hated it sold for £120 the following day
3. 1.8 Diesel Mk3 fiesta paid £200 for it M reg full service history had it 7 months before rolling in after hitting a patch of diesel scrapped for £80
4. K reg 1.1 mk3 fiesta paid £120 for it.. failed Mot on welding had 3 months - scrapped for 120 quid funnily enough
5. G reg 1.4 mk2 astra paid 150 quid for it. didnt really like it so sold it for £160 about 6 months later
6. L reg corsa 1.5 TD (brilliant car- sold above car to buy this one) £250 with 1 months mot and a years tax mot cost £120 to get it through (written off by white van man. (got £800 for the car plus £100 scrap)
7. Mk3 1.6 astra P reg. £150 (bloke was scrapping it but it was servicable so i got a mot on it.. engine blew about a year after ownership. scrapped for 100 quid
8. T reg corsa 1.0 12v (worst car ever) (paid £800) written off by police car.. paid out £2k on it.. (was a blessing in disguise heap of crap it was.)
9. N reg 106 diesel. paid £400 for it. full mot and 6 months tax.. (written off after 2 weeks.. rear ended ) got £675 for it plus 100 scrap
10. R reg 1.3 fiesta mk4 £400 i think.. had it two years before it was using more oil than petrol (sold as spares or repair for £200)
11. S reg 1.9 diesel xsara £350 paid. had 1 year till head gasket went on it.. (had a coolant leak i forgot about) £180 scrap
12. R reg mk4 fiesta paid £150 as spares or repair (wanted brake pads ) again had 1 year before using poo loads of oil (sold as scrap for £180)
13. W reg mk5 fiesta £410 paid got tax and brakes sorted owed me £600.. too small so sold at cost to a mate.
14. T reg xsara 1.9d (current car) brillaint bargain as very low mileage for age £410 ebay bargain...

so ive had lots of cheap cars and havent really lost anything on them.. cheap and cheerful so long as it starts stops and go's ill drive it..

nickj_2

Gloomendoom wrote: »

Not many people buy cars as investments.

you are investing your money to buy it, so unless you're buying/investing something like an aston that is sought after and would probably increase in value then a standard car that's going to cost you 16k and be worth 3k in 5 years time is not a great investment

Gloomendoom

nickj wrote: »

you are investing your money to buy it, so unless you're buying/investing something like an aston that is sought after and would probably increase in value then a standard car that's going to cost you 16k and be worth 3k in 5 years time is not a great investment

I'm no more investing money in my car than I am my gas bill.

Investment is putting money into something with the expectation of gain.

Jeff_Bridges_hair

nickj wrote: »

you are investing your money to buy it, so unless you're buying/investing something like an aston that is sought after and would probably increase in value then a standard car that's going to cost you 16k and be worth 3k in 5 years time is not a great investment

I think you should go and check up what 'invest' actually means.

Lessbutbetter

I've been interested in buying a new/er car for a while and have come to the conclusion that my own is doing a perfectly good job. I'd like a newer car for very obvious reasons, however maybe taking out finance is not a sensible option for me. I bought my Tdi audi a3 [51 plate] 2 years ago for 3k cash, and it has cost me only general wear and tear. It will probably run for a good few years yet before it needs anything major doing to it, as many Audi owners on here will agree they're built to last! It's perfectly clean inside and the body is in great condition also. I'm glad i don't have installments to pay out on it every month. If i decided to sell it i wouldn't get much for it and the thought of starting to pay £300+ a month for a new A3/A4 doesn't make sense to me at the moment. It'd be nice to have a fresh set of wheels but it's alot of money to keep paying for 3+ years on a constantly depreciating item.

Maybe when i get my increase in my salary then i'll rethink this

Lessbutbetter

so unless you're buying/investing something like an aston that is sought after and would probably increase

how on gods earth would an Aston "probably increase" in value

It will depreciate as soon as its driven off the forecourt, and forever more, whether it's an Aston or a Lada!

nickj_2

Lessbutbetter wrote: »

how on gods earth would an Aston "probably increase" in value

It will depreciate as soon as its driven off the forecourt, and forever more, whether it's an Aston or a Lada!

one of my customers restored one of the 1st aston martins , he sold it back to the company for a huge sum and it's now in their museum ,

catflea

My record is as follows

2006 - 1995 Fiesta with full MOT (6 months tax)- Free
2006 - 1971 Morris Minor Traveller - £70, had been off the road since 1988
2009 - ~ £600 spent on Morris and MOT achieved
June 2010 - 1995 Rover 114 GTA Full MOT (no tax)- £275
July 2010 - 1995 Fiesta Scrapped (£120 recieved from parts)
November 10th 2010 - 1971 Morris Minor Traveller Sold for £1450 with full MOT
November 13th 2010 - 1968 Morris Minor Saloon with 9 months MOT £750

So total amount spent on purchase of cars = £1095 (£1695 if you include the "restoration" money on traveller)
Total amount of income from cars = £1570)

So it could be argued that in the last 5 years I have suffered depreciation of just £145 :rotfl:Now, I reckon thats a good figure.

The Rover is going up for sale very soon though and I'm aiming for the same as what I paid, that will put me into "profit" and the current morris is actually worth close to 2k so I'm not doing too bad...

Of course, that is ignoring the maintainance and running costs etc but all done cheap, but well. No bodges on my cars...

ETA: when the time comes, I am considering buying a brand spanking new motorcycle (which lists at 2.5k) but with cars, if something goes wrong you are a lot safer and the extra money is worth it for the peace of mind for me...