Is bangernomics/shedding for me?

egyptiancotton

I've been thinking of selling my car. It's a 2017 1.4 TSI SEAT Leon and has just ticked over 35k miles. I bought it a couple of years ago as I needed something comfortable and economical for commuting - I was commuting about 100 miles a day. I've been working from home since March last year and this won't change for the rest of this year. Next year, we'll be making a return to the office but I've been told that I probably won't need to go in that often - as long as the work gets done then it doesn't matter where I am. It feels like a lot of car to be sitting around most of the time.

My local SEAT dealer has offered me £10k for my car - either part exchange or sell it and walk away. I'm not sure whether to keep the car and run it into the ground. I'm tempted to sell it and use the money for other things, and buy something sub-£1k as a runabout.

Has anyone else on here done something similar as a result of the pandemic? Would appreciate people's views and experiences.

pallyman

Used car prices a high at the moment so £1000 will not get you much,I run a 2006 car but was looking to update but decided to keep it when looking around.

dipsomaniac

Go for it. I bought a focus Ghia for £200 18 months ago. Since then it's gone through 2 MOTs and 10,000 miles and still going strong.

To make the most of cheap motoring you need to be fairly competent at doing your own repairs and have a comprehensive tool kit.

BOWFER

Couldn't be bothered with the potential hassle.
If any car is going to be sitting around most of the time, why bother with one at all?
Join a car share club like co-wheels?

knightstyle

So you can get £10k for your car, a car you like and know is in good nick.  Keep it for another 10 years and it will cost £1k a year.  Bangers probably cost £500 to £1k a year.

BOWFER

knightstyle said:

  Bangers probably cost £500 to £1k a year.

Oooooh you'll get all the irate owners coming on soon

"my (insert car name) cost me 2p and hasn't needed a SINGLE THING in years!!!!"

Even if you believe them, I refuse to accept it's the norm,.
I've seen my mum's 2006 Micra go from being remarkably reliable into a money pit.

onlyfoolsandparking

BOWFER said:

knightstyle said:

  Bangers probably cost £500 to £1k a year.

Oooooh you'll get all the irate owners coming on soon

"my (insert car name) cost me 2p and hasn't needed a SINGLE THING in years!!!!"

Even if you believe them, I refuse to accept it's the norm,.
I've seen my mum's 2006 Micra go from being remarkably reliable into a money pit.

haha, 2p I like it.

My current old nail (soon to be history) cost me £500 around 5 years ago and I'm still (hopefully) gonna draw £500 for it when I sell it, however it's had plenty of maintenance including a new clutch at £250, some of the years I have spent a few quid on it and others not a lot BUT the most important part to me is/was keeping it on the road and I've achieved that with the help of a good mechanic (friend of 30+ years). All cars will cost plenty in the long run and some more than others but my philosophy is when I encounter a problem I just get it fixed and carry on regardless of what I'm driving OR riding.   

Grumpy_chap

I assume the OP's Leon is paid for?

In that case, unless the OP needs to release the £10 capital tied up in the car, the best route is probably as @knightstyle said -keep it and run it into the ground over 10 years.  By the end of that you also manage to trial "bangernomics" through a gentle slide in.

There is a whole thread on bangernomics:
https://forums.moneysavingexpert.com/discussion/comment/78335758#Comment_78335758

In my experience, if the car use is low, then a newer car is likely to be more tolerant to the abuse of underuse than a banger (though, increased electrical draw may counter that).  Battery should be disconnected if really leaving the car "sitting around" and tyre care.  Is that really the case?  If so, as @BOWFER said, sell the car and UBER.

If the OP does decide to sell, don't just take the £10 offered by the local dealer.  Check whether more can be realised through WBAC, Motorway, and local garages with the "we buy cars for cash" board - this is not just the preserve of back street traders, I recently saw that sign at the local Toyota / Lexus main dealer.

If the OP does decide to go the bangernomics route, then that needs to come with an acceptance that the car has no image and no prestige (one of the things I like).  There may be unfavourable comments about "success" or "failure" depending upon the OP's friends / family groups.  Other costs to consider:
 - road tax likely higher for a banger (pre-£30 low emissions rating).  £165 for my Fiesta.
 - maintenance will be higher.  My bangernomics Fiesta needed a new door lock assembly last week, £173 (I possibly could have sourced from a scrappy if I had the time).  This weekend I need to investigate the internal air blowers stopped working - think that's a cheap part though.  @knightstyle suggested £500 - £1k per year maintenance and that possibly is not far off the mark.
There was a recent thread where someone was leasing a new Skoda for £173 per month all in, and set against the last fortnight with my bangernomics, that is attractive to many.  I like the Fiesta, though, so will keep it going for the time being.  With a bangernomics Focus to fall back on if the Fiesta is out of action (though normally the Fiesta relieves Focus as that is the one that sometimes fails).

BOWFER

Grumpy_chap said:

I assume the OP's Leon is paid for?

In that case, unless the OP needs to release the £10 capital tied up in the car, the best route is probably as @knightstyle said -keep it and run it into the ground over 10 years.  By the end of that you also manage to trial "bangernomics" through a gentle slide in.

There is a whole thread on bangernomics:
https://forums.moneysavingexpert.com/discussion/comment/78335758#Comment_78335758

In my experience, if the car use is low, then a newer car is likely to be more tolerant to the abuse of underuse than a banger (though, increased electrical draw may counter that).  Battery should be disconnected if really leaving the car "sitting around" and tyre care.  Is that really the case?  If so, as @BOWFER said, sell the car and UBER.

If the OP does decide to sell, don't just take the £10 offered by the local dealer.  Check whether more can be realised through WBAC, Motorway, and local garages with the "we buy cars for cash" board - this is not just the preserve of back street traders, I recently saw that sign at the local Toyota / Lexus main dealer.

If the OP does decide to go the bangernomics route, then that needs to come with an acceptance that the car has no image and no prestige (one of the things I like).  There may be unfavourable comments about "success" or "failure" depending upon the OP's friends / family groups.  Other costs to consider:
 - road tax likely higher for a banger (pre-£30 low emissions rating).  £165 for my Fiesta.
 - maintenance will be higher.  My bangernomics Fiesta needed a new door lock assembly last week, £173 (I possibly could have sourced from a scrappy if I had the time).  This weekend I need to investigate the internal air blowers stopped working - think that's a cheap part though.  @knightstyle suggested £500 - £1k per year maintenance and that possibly is not far off the mark.
There was a recent thread where someone was leasing a new Skoda for £173 per month all in, and set against the last fortnight with my bangernomics, that is attractive to many.  I like the Fiesta, though, so will keep it going for the time being.  With a bangernomics Focus to fall back on if the Fiesta is out of action (though normally the Fiesta relieves Focus as that is the one that sometimes fails).

No idea what size of Skoda the lease deal was for £173 a month, but if you're happy with a Fiesta size vehicle then there's often lease deals for that sector at much less than £173.
Purely as an example, not saying you'd be able to live with a Fiat 500, but I've seen those at under £100 a month on occasion.

Herzlos

Whats your actual car usage like? For £10k back you can get a lot of taxis and public transport.

Of course you could always trade it in for something cheaper in their stock and walk away with the difference in cash. If you're barely doing any miles then get something that's terrible on fuel because it'll be even cheaper.

egyptiancotton

Thanks for the replies. The Leon is fully paid for. My actual car usage at the moment is minimal - probably 30 miles a week, maybe. I don't go far at all these days.