cheap car or something better?

tylerjames

I'm thinking I could do with a car again after not owning one for a year or so. Mainly for convenience for shopping, playing golf, going to friends houses, go to work when I can't get a lift etc.

In the past I've always bought cheap cars between £300-600 and run them for a few years before selling for £2-300. So very little depreciation.

The downside is having an old car of course. So I am wondering if there are any other ways of doing it. Is there any benefit of getting a car with credit? Or maybe spending £1-2k and either keeping the car a long time or selling for not much loss.

Any advice appreciated, it would be nice to own something sub 10 years old for once!!

forgotmyname

A £2000 car may not be any more reliable than a £300 car.

Its pot luck. Cars break down. Problem is if you get a loan and it breaks down you have to find the money for repairs as well as keep up the repayments.

If i only had £200 to spend on a car then thats all i would spend on one.

I buy a car for £2000 or so, Usually under 5 years old. But fairly high mileage 100,000 +. I do a low mileage so plenty of years left in them for me.

Then resell for about £1000, 4 or 5 years later.

But modern cars can easily swallow £1000 on a clutch or fuel injectors or a turbo etc in one go. Thats before the everyday things like tyres and brakes.