Have I had my moneys worth?

Sssssss

Hello,
I've had my current car for 16 years now. Paid £10K when bought.
Question is do you think I've had my moenys worth, as I fancy changin it. Should get 1 to 2K in part exchange.

Geodark

I reckon 97.50 in px - in other words, how do we know what px value you might get - you havent even said what the car is

Sssssss

sorry, what I meant was that I've been offered 1K part exchange or 2K private sale.
So worst case the car has cost me 10 - 1K = 9K over 16 years, not counting repairs etc.


so is that a good return 9K over 16 years?

DUTR

Sssssss wrote: »

sorry, what I meant was that I've been offered 1K part exchange or 2K private sale.
So worst case the car has cost me 10 - 1K = 9K over 16 years, not counting repairs etc.


so is that a good return 9K over 16 years?

Well it's not a return, only you can answer that question,
My previous car I had for nearly 9 years, the current one naturally cost me more, but I've enjoyed both equally for the money easily.

Sea_Shell

Surely only you know if you've had value for money. What does your gut tell you?!!

Same with any purchase, large or small, of a depreciating asset.

wgl2014

I would suggest that compared to the majority of car owners you have probably spent less per year of ownership than average.
As to if you have had your money's worth..... If it has been your main transport, done loads of miles, enabled you to go to work, taken you on days out etc etc then yes. If it has just sat as a decorative ornament outside the house, no.

AdrianC

It's cost you £1.54/day.

Do YOU think that's been good value?

Of course, ignoring the other costs of ownership gives a totally false figure.

EdGasketTheSecond

You always lose a lot to depreciation with higher-priced, newer cars. For instance I paid £1k for one of my cars over 12 years ago; serviced it myself including 1 clutch and a couple of timing belts; done 100K miles. I would think I've had my money's worth but it is a totally subjective question. In my opinion you have had good value too as you benefited from a more up-to-date car and although it cost more than mine, it has served you well too.

Carrot007

AdrianC wrote: »

It's cost you £1.54/day.

Do YOU think that's been good value?

Of course, ignoring the other costs of ownership gives a totally false figure.

Indeed it does. I have a spreasheet of eveything I have spent on the car. Well maybe not car washes! Maybe I should add them too, though they are not exactly needed.

Joe_Horner

Really does depend on how you define good value for money.

Your costs have been £562 + repairs per year over that time. My current car cost £500 and I've spent around £500 on repairs to date, not counting the 3 vandalised windscreens over the past 2 months (can't blame the car itself for that). We've had it for 4 years now, so that's £250 a year including repairs.

On the other hand, I'm driving round in a 26 year old automatic diesel saloon, you're not. You may feel that you wouldn't want that even if they paid you, in which case my large savings in cash would be very poor value for money to you.

System

Given your car has cost you £500 or so a year to own then compared to those who are getting cars on PCP deals paying several times that a year then yeah you've had a good deal and got your moneys worth.