Convertable for a grand?

Grumpy_chap

MalMonroe said:

I'd only part with £1k for any car if I was a gifted motor mechanic or wanted to hone my mechanic skills. 
 
I'd rather pay more and have a modern car with safety features, reversing help and lovely fast-clearing windows all round, comfy seats, a bit of heating/aircon when required and strong locks to keep the thieves out. One that is reliable and roadworthy, does a good few miles to the gallon and costs absolutely nothing for road tax and doesn't cost a fortune for insurance. People forget about those minor details when wanting to buy 'lovely old cars'. They're not so lovely. They're just things.

Yes, you can probably buy a convertible for a grand but you'll probably live to regret it. While the seller will be laughing all the way to the bank. 

All the comments made are perfectly valid for someone buying a car that is an only vehicle or needed for critical use, but I fear these comments miss the point of the OP:

k6chris said:

Pub conversation - "Can you buy a convertable for a grand that would last all summer?"  Well can you??

I really took that to mean "can you buy a convertible for £1k just for fun to use for one summer?" 

So, all you've got to do is get something that has an MOT until October, starts and runs, preferably with tyres and brakes that make it through the year without needing replacement.  Use the car as a bit of fun this summer and then

• sell in September with the 1-month MOT remaining
• wait until the MOT and keep a second year if it passes
• scrap it and get £250ish back.

So, for the sake of £750 in depreciation, you've had a bit of a toy for a season and got the "I need a convertible" mid-life crisis over and done with.  Of course, you've had to pay for insurance, road tax, etc., but you can still keep the total costs down to £2k.

If only all mid-life crises could be solved so cheaply!

k6chris

Grumpy_chap said:

k6chris said:

Pub conversation - "Can you buy a convertable for a grand that would last all summer?"  Well can you??

I really took that to mean "can you buy a convertible for £1k just for fun to use for one summer?" 


If only all mid-life crises could be solved so cheaply!

Yes, this would be a fun car only, as we have a dull car for sensible stuff.  I am beginning to come around to the 'spend a bit more to get a bit more' idea though.  Need to check I can get into and out of an MX5 first though!

Zinger549

lordmountararat said:

Another vote for the MX5. They are fabulous little cars for the money, though rust can be a big problem, on the Mark2 especially. I had to sell mine in the end because my wife could no longer easily get in and out of it.

Could you not have kept the car and got a new wife. I know a few people who have had MX5's and they all rave about them.

caprikid1

"Could you not have kept the car and got a new wife. I know a few people who have had MX5's and they all rave about them."

My partner often says about my MK1 Capri 3000GT XLR, I'll never ask you to chose as I know the answer .....

Mutton_Geoff

caprikid1 said:

"Could you not have kept the car and got a new wife. I know a few people who have had MX5's and they all rave about them."

My partner often says about my MK1 Capri 3000GT XLR, I'll never ask you to chose as I know the answer .....

Car of my dreams too. I had the 2 litre V4 back in the day and worked my way up to a 2.8i - if yours is anything like this then I know what to chose!

https://www.properbikes.co.uk/71/proper-cars/ford-capri-mk1-3000gt-xlr-1971-for-sale

caprikid1

Yep thats the model got a 2.8 but the MK1 I think is better car.

motorguy

Brewer21 said:

motorguy said:

Brewer21 said:

motorguy said:

k6chris said:

Brewer21 said:

MX-5's are infectious, I started with this @£1500 12 years ago. Never stopped spending on them, on my 4th now but moved on to a Mk3.

What would one like this cost??

Gut feeling is a clean mk1 is probably a minimum of £3K upwards.  I see some restored examples are £8K ish.

Unless its a "simply must have a mk1" type purchase, you can get a mk3 MX5 now with sensible miles for £3K odd.

https://www.autotrader.co.uk/car-details/202111189707337

I agree mostly with what's said here.
Anything over £3k you are into Mk3 territory but probably into sorting out the rust still.
A £1k Mk1/Mk2 car is very possible to buy but expect it being rough around the edges. If you can get a summer out of it and not lose when selling on it's a win win and very possible. MOT history check is key when buying, you can usually judge what needs attention or what has had attention in the past.
That car pictured I bought it for £1500 and sold it for the same amount 2 years later. I probably spent about £500 on it during that time in parts, some essential some not but I had some good times driving it.👍

Out of curiosity, when did you sell it and what would you say it or one like it would be worth now?

I sold that one in the picture around 2012 for £1500. These older 'good' cars are in increasing in value now. Talking 'rust free' (owners sometimes class rust you can't see from the top as rust free) it's when you dig down into the car and get underneath to report to them it's not rust free, that really hurts their feelings.
So rust free cars are really going for serious money, Mk1 we are talking, I've seen them up for sale at £19k, tip top condition though. Mostly though you are talking from £4k upwards for a well sorted not so rusty car. Below that expect to have some sort work to do on the car. Like any car, it's always buyer beware.

Cheers.  Yes, that £4K number is broadly in line with my thinking as to where they are now, for a reasonably well sorted mk1, and as you say, the skys the limit sorts of numbers for low miles, mint cars with provenance.

k6chris

Update:  I think a better aim is to try and buy a convertable that will cost £1,000 a year, for example a £3k convertable that will (hopefully) last 3 years.  I have looked at a number of MX5s, where I doubt even that is possible (wow do they rust!) but hopefully can find one that fits the bill.  Hopefully!

caprikid1

An allegedly rust free low miles MX5 MK1 Vspecial just went through ebay under £3K , looked a good punt IMHO

Mutton_Geoff

k6chris said:

Update:  I think a better aim is to try and buy a convertable that will cost £1,000 a year, for example a £3k convertable that will (hopefully) last 3 years.  I have looked at a number of MX5s, where I doubt even that is possible (wow do they rust!) but hopefully can find one that fits the bill.  Hopefully!

I've had a couple of Porsche Boxsters and the overall costs of ownership (exc fuel & insurance) has been pretty close to that. Shame about the initial outlay though. The 987S would be a lot more fun than an MX5