Do you drive a banger of a car?

PoorGuyNextDoor

If so, why? Simply because you cant afford better or is there another reason?

Iv recently changed my situation from paying £351pcm finance to a banger that cost not much more than that. I could have kept driving the near new car but it seemed a right waste of money. Also had 4 figure bill to sort it. Can use the money saved by not having the finance payments/big repairs to make every month to pay off other loan and get debt free quicker all while building up a bit of an emergeny fund(definitley needed as with banger inevitable that something will break!) Hopefully the £351pcmx7 months = £2,457 just the rest of this year will actually be there come the end of 2017.

palgrave

Depends on how you define a banger. I currently drive an '05 Honda Accord Exec 2.4 litre automatic that is fully loaded. It's fairly swift, very comfortable and has all the toys I need plus more. In terms of its financial value it's in banger terriorty, however, at the same time it's probably more luxurious, quicker and more comfortable than many brand new cars.

BeenThroughItAll

palgrave wrote: »

Depends on how you define a banger. I currently drive an '05 Honda Accord Exec 2.4 litre automatic that is fully loaded. It's fairly swift, very comfortable and has all the toys I need plus more. In terms of its financial value it's in banger terriorty, however, at the same time it's probably more luxurious, quicker and more comfortable than many brand new cars.

Custard test on that.

BeenThroughItAll

PoorGuyNextDoor wrote: »

If so, why? Simply because you cant afford better or is there another reason?

Iv recently changed my situation from paying £351pcm finance to a banger that cost not much more than that. I could have kept driving the near new car but it seemed a right waste of money. Also had 4 figure bill to sort it. Can use the money saved by not having the finance payments/big repairs to make every month to pay off other loan and get debt free quicker all while building up a bit of an emergeny fund(definitley needed as with banger inevitable that something will break!) Hopefully the £351pcmx7 months = £2,457 just the rest of this year will actually be there come the end of 2017.

I drive whatever I fancy at the time, but rarely spend more than 2K on anything. I buy older cars because I like them, because I can buy them outright, because I enjoy working on and driving all kinds of different things, and because you get a lot for your money - plus most new cars aren't that exciting to me until into the 50K+ bracket.

I normally have a car for 6mths to a year, and in that time I'll fix anything that doesn't work. Then I'll get bored or my needs will change so I'll sell it on. Normally get back about what I paid, so only really lose the cost of any parts I've bought since I do all the work myself as therapy and a hobby.

Because I don't spend a fortune on HP or PCP I can afford a bigger house, to indulge my passion for motorbikes with brand new bikes whenever I want them, and can afford other luxuries like good food and to run big expensive toys like a motorhome - but the main reason for me is why buy a boring new car for 20K and hate every mile driving it when I can run a more interesting 'old banger' for buttons and enjoy myself?

Jonesya

My car is now 10 years old and was well spec-ed when I bought it so a new car doesn't offer anything more, other than new-ness and cost.

It still gets more than 50 miles to the gallon, any fuel efficiency gain of a new car would be nothing next to the higher depreciation costs. As for reliability, in 10 years it's never broken down on me once, just needed consumables and a minor repair.

It won't last forever but until then I'll hold on to it.

palgrave

Will gladly perform a custard test. Where do u want the custard to be positioned?

BeenThroughItAll

palgrave wrote: »

Will gladly perform a custard test. Where do u want the custard to be positioned?

On the dashboard, with the steering wheel and odometer in view, and a copy of that day's paper, if you will.

parking_question_chap

BeenThroughItAll wrote: »

I drive whatever I fancy at the time, but rarely spend more than 2K on anything. I buy older cars because I like them, because I can buy them outright, because I enjoy working on and driving all kinds of different things, and because you get a lot for your money - plus most new cars aren't that exciting to me until into the 50K+ bracket.

Did any of your older cars have a new price of over £50k?

BeenThroughItAll

parking_question_chap wrote: »

Did any of your older cars have a new price of over £50k?

Not all of them, but a few. But then a 50K car 10-15 years ago would be much less common than one today.

AndyMc.....

BeenThroughItAll wrote: »

On the daah board, with the steering wheel and odometer in view, and a copy of that day's paper, if you will.

Bet that doesn't happen.

BeenThroughItAll

AndyMc..... wrote: »

Bet that doesn't happen.

You and me both.