Your Bangernomics successes

Blackjack_Davy

worried_jim wrote: »

Hello my fellow cheapskates. After spending nearly three years running a car for as cheap as possible, mainly as I ran it throughout all but he darkest depths of winter on WVO/UVO (waste or used vegetable oil), in a Vauxhall Astra I have had to say good bye to the old girl as it is no longer economical to repair to get it through it’s MOT (which has now expired yesterday).

Running my Vauxhall Astra on veg oil-
https://forums.moneysavingexpert.com/discussion/1961265

Being of limited budget but a growing fan of “Bangernomics” (old banger cars + economics) I have decided to catalogue my experiences of running a sub £1000 car and I would like you to share your experiences if you are doing the same, weather through tight-fisted choice, i.e.-
-Why buy a new car when you can run one successfully for the equivalent of two new car finance payments.
-Or like me because you have no choice.

Now to begin with we need to agree on price constraints. I have gone in with a £1000 price limit even though I paid half this, if you disagree lets discuss reasons, I am all ears.

Here is my set up-
A Rover 600 2.0sli.
12 months MOT
No tax
£495.

4 Doors, Manual, Saloon, Petrol, Metallic Blue, MOT-02-2013. Honda engine, ABS, Alloy wheels, Folding rear seats, Lumbar support, Immobiliser, Passenger airbag, Rear armrest, Radio/Cassette, Rear headrests, Alloy wheels, 3x3 point rear seat belts, Alarm, Drivers airbag, Electric windows, Height adjustable drivers seat, Remote central locking,
The mileage was approx 118,000, Cambelt changed @79,000, loads of history (not fsh though) all the old MOT certificates.

The bad bits about the car are-

Electric aerial doesn’t retract (can’t use a carwash)
Drivers seat lumber is worn
Paint is faded on roof and boot lid.
Radio is missing a button and unable to pick up many stations
Small cigarette burn in rear passenger seat
Driver’s seat belt doesn’t retract
Not sure if Air con is fully working (suspect needs a re gas)
Wind noise at speed from top right of driver door
Both wing mirrors are tatty (held together with tape and a nylon tie)

The good bits-

Drives very well
All tyres have lots of tread
All electrics work
12 months MOT
Goes like stink
Better than the last car I had.


So in a nutshell I have bought a car with a brand new MOT for the price of getting my existing Astra through it’s MOT just to face a similar if not larger bill for the same next year.
Now there is nothing to suggest that in a years time I face the prospect of a large MOT repair bill and may have to start again with another car, hopefully not, and this is to document how far you can go with a banger.

I have found an original Topgear review by Jeremy himself from 1993-
http://www.youtube.com/watch?v=z1Lq92QTrBw

I have had a good look around ebay and it is full of Rover parts should I need any- I currently have the wining bid on a Haynes manual so I can really get to know the car should I need to.

I will be the first to admit that this is a gamble, no nice new car with no faults or warranty should any arise, hell, I’ve bought a car from a now defunct manufacture, how will this effect me? Now in my mind when I was a teenager in the early 90’s a banger was a Hillman Imp, Vauxhall Chevette or as in my case and my first car a Talbot Sunbeam. These were cars that if you wanted a radio (or a rear heated element on the rear screen) you had to fit one your self. Cold morning- fingers crossed, MOT time meant welding new sills. Now a banger today comes with power steering, ABS, electric windows, fuel injection and in some cases air con, so why spend £k’s?

Top Gear guide to Buying a Banger with Quentin Wilson- From 1997
http://www.youtube.com/watch?v=CUVmNCdf4tI&feature=related
(You won’t be buying anything featured in this clip but it gives you the idea and you can see the difference between “old” and “modern” bangers.
So by now you should be getting the jist of how to join in. Share you car and model any feature it may have and keep updating!

Ok, heres my perceived wisdom on this issue through many years (20+) experiance on this issue, partly because like a true moneysaver I never like spending more than I have to and secondly due to sheer necessity -

I've had loads of "bangers" some better than others. The fundamental equation of bangernomics is this: what is the ratio of initial outlay expense versus ongoing repairs?

i.e. if you buy a heap of junk it's probably going to cost a small fortune to get it through it next M.O.T if at all, and what are the risks of having to call out the AA every time you want to travel further than the end of the street? BUT if I spend more on a half decent car it'll cost more initially but hopefully it should last many years before it needs major expense on it and you don't have to worry about it breaking down every time you go further than the other side of town.

For many years I tended towards the first half of the equation buying cars for well under £1000, but years of experiance taught me that the endless expense of M.O.T's and constant callouts to breakdown services made me try the other side of the equation and the last car I bought, an 2000 year model Fiesta that I paid £2500 for had just 10k miles on the clock and for the first 5 years at least needed no additional expenses other than the regular service and M.O.T which it passed with flying colours. So for the 7 or 8 years I've had it it's been better value than a £500 banger that only lasted a year or two if I was lucky, and the worry factor has certainly been far less.

Of course now it's well and truely a banger and I'm thinking of ditching it but I've had many good years out of it and I think it's been the better value of the two.

worried_jim

Blackjack_Davy wrote: »

Ok, heres my perceived wisdom on this issue through many years (20+) experiance on this issue, partly because like a true moneysaver I never like spending more than I have to and secondly due to sheer necessity -

I've had loads of "bangers" some better than others. The fundamental equation of bangernomics is this: what is the ratio of initial outlay expense versus ongoing repairs?

i.e. if you buy a heap of junk it's probably going to cost a small fortune to get it through it next M.O.T if at all, and what are the risks of having to call out the AA every time you want to travel further than the end of the street? BUT if I spend more on a half decent car it'll cost more initially but hopefully it should last many years before it needs major expense on it and you don't have to worry about it breaking down every time you go further than the other side of town.

For many years I tended towards the first half of the equation buying cars for well under £1000, but years of experiance taught me that the endless expense of M.O.T's and constant callouts to breakdown services made me try the other side of the equation and the last car I bought, an 2000 year model Fiesta that I paid £2500 for had just 10k miles on the clock and for the first 5 years at least needed no additional expenses other than the regular service and M.O.T which it passed with flying colours. So for the 7 or 8 years I've had it it's been better value than a £500 banger that only lasted a year or two if I was lucky, and the worry factor has certainly been far less.

Of course now it's well and truely a banger and I'm thinking of ditching it but I've had many good years out of it and I think it's been the better value of the two.

Great insight Davey. The best thing about bangernomics is how the cars have changed over the year and have become more reliable. The reason most won't entertain the idea is psychological. A banger bought 20 years ago would have been a gamble and a car made in 1980 ish- so rusty, prone to over heat and not start on a cold morning. A banger bought now would be your 2000 fiesta and a much better investment.
If you replace your Fiesta any ideas on which way you would now go? £2500+ or sub £1000. Let us know your thoughts.

andygb

I faced the same problem last November when the Mondy had failed its MOT.
I originally bought the Mondy back in 2004 at auction for £2300 all in - 2001 X registered, last of the Mk2's, 1.8 petrol Zetec Verona, with aircon and all the creature comforts, FSH ex BT pool car, 27K miles.
Since then, very recently, I have seen similar well priced, sensible (not always the most popular) cars go through - Peugeot 307 1.6 petrol 2005 (55 reg), 35K miles, 1 owner - £1400, my mate bought this a couple of years ago and has had no problems with it.
I reckon that £1500 could get you a really good, reliable car, which will last for years if you look after it, and attend to any faults as soon as they happen, rather than letting them get worse.
People still pay silly money for tatty BMWs (3 series particularly), Golfs, Corsas, Astras, Ka's - so ignore them.
A "banger" IMO is still a car under £1000 , but one which, as others have said, should be much better than bangers of yesteryear.

mikey72

worried_jim wrote: »

Great insight Davey. The best thing about bangernomics is how the cars have changed over the year and have become more reliable. The reason most won't entertain the idea is psychological. A banger bought 20 years ago would have been a gamble and a car made in 1980 ish- so rusty, prone to over heat and not start on a cold morning. A banger bought now would be your 2000 fiesta and a much better investment.
If you replace your Fiesta any ideas on which way you would now go? £2500+ or sub £1000. Let us know your thoughts.

A lot depends on how handy you are yourself I think.

We usually have a newish car, and the rest are the fleet of older ones.
Some bought because they are cheap, but destined to do 15k mikes a year, others because I like older cars, but to use, not to polish at shows.
Our bangers have been cheap, but as reliable as the 6 month old car we buy then keep for 10 years.
Names don't matter, (some of the best cars we've had have been french), one of the most disappointing has been german.

A bit of maintenance keeps them going day after day, I've never extended an oil change though, it's always at least once a year.

I know what you mean on overheating, we bought a classic mini a few years ago as a daily car for one of my kids, first thing was new water pump, thermostat, flush the radiator, just in case.
It worked though, no problems, and started every morning last winter.
It did bring back memories when all the doors froze shut every day though.

I find all the rubbers on new cars last longer now, the "modern" one is still on original 8 year old gaiters, ball joints etc, the others tend to need at last one between them each year.

(As the mini is a keeper, we changed all of them last year anyway, obviously not oe quality, I need to replace a track rod end again this year as the dust cover has split already , only 15mins and £4 though.)

sheslookinhot

1998 Volvo 940 Celebration Estate.

Paid £2,250 6 years and 9 months ago. 72k miles on clock

Passed every MOT with minimal work, 2 exhausts, 2 A/C intercooler pipes and new set of Pirelli's. Now has 108k miles, still going strong

25+mpg

jase1

To be honest, I think cars have become so reliable, and 'image' has become such a festering cancer when it comes to resale values, that the two together have created the perfect environment for even non-technical people to be able to happily get away with cheap motoring.

I have not owned a car in a very long time that has needed an expensive repair outside MOT day. On that day, you're only really going to be hit hard if your car is scrap anyway, so you have plenty of warning. If the car is under ten years old, four times out of five it'll just pass, and the other time it'll just need a brake pipe or something.

Which is why I specifically target cars with high depreciation. They don't depreciate because they're no good, they depreciate because the badge isn't right, or they're 'ugly', or the interior is plasticky. Errr, so what at £1000? Image is such a dopey concept when the car isn't worth much -- no-one will think you've 'arrived' if you drive a £1000 Audi. By all means buy the £1000 Audi, but not for the image it imparts!

All cars need tyres. All cars need brakes, and suspension bits, and cambelts, and bulbs and they'll all develop niggly faults like broken stereos or sticky windows/central locking. Your £40,000 Range Rover will. These are not reasons to scrap a car, and they're not reasons to dismiss something as 'unreliable'.

The last time I had an expensive bill was perhaps 150,000 miles ago, and that was my own fault -- I bought a cheap clutch kit and one of the springs exploded, tearing through the gearbox bellhousing. That wasn't the car's fault!

[Deleted User]

These days a 10 year old car still looks decent and works like a new car e.g. starts first time on cold mornings. Unlike 10 year old cars 15 years ago, they WERE bangers fit only for the scrap heap.

mikey72

Two of ours were near enough 10 year old cars 15 years ago. They're fine now, so weren't fit just for the scrapheap then.

[Deleted User]

mikey72 wrote: »

Two of ours were near enough 10 year old cars 15 years ago. They're fine now, so weren't fit just for the scrapheap then.

Ones that weren't looked after.

jase1

1980s cars were a bit of a mixed bag -- it was entirely possible to find one that wouldn't start or run properly at 5 years old, never mind 10. Yes, that was down to neglect, but you'd have to really try pretty hard to break a 5 year old car these days!