Buying used cars now

Filly_Gilly

Hello,

Keen for some thoughts please. I have a 13 year old car, a bit battered on the outside but a decent drive. My plan was always to run it into the ground before thinking of another. But, I had my first big(ish) garage bill and expect that at some point I'll need to replace brake pads, timing belt and tyres etc. So far, apart from the yearly service, I've had no major work needed since I bought it 9 years ago. 

But, I'm wondering if now is a sensible time to replace it. My next car  would need to  be a petrol, cheap to run, used family car but, I'm sure many other families will be looking for exactly the same with petrol costs going up and wonder whether this will cause these types of used cars to shoot up even more.

I know leasing is popular right now but as I am looking to spend no more than £9k on my next car (less if possible), I don't think this is cost effective and also feel uncomfortable with not owning the car at the end of the period 

I was thinking about an electric car (a used Nissan leaf) but with fuel costs as they are and the high costs of batteries, I'm not convinced this is cost effective either.

What do people think? Do I just bite the bullet in anticipation of further increases? Are leases more sensible? Is an old leaf the way to go?

Thanks

tacpot12

You would need to replace the brake pads and tyres on any new car "at some point", so I would only factor in the cost of a new timing belt into your calculations. Even at a main dealer this is likely to be much cheaper than the depreciation on a newer car, so keeping your old car is the sensible decision. My car is 16 years old, and has just sailed through its MOT with just an advisory about wear on the front tyres as a result of spending £900 last year to have the rear brake pipes and calipers changed.  

Grumpy_chap

If the current car is reliable, the items mentioned are all routine so will arise periodically on any car.  

Lease for a used car is not recommended.

Buying at £9k won't guarantee that you don't need the similar maintenance to the current car.

Seems like a case of "better the devil you know" and use an independent garage to get the work done at the best price.

Flight3287462

OP the way things are going at the moment the last thing I would be doing is splashing out on a car.

Prices across the board are going to rocket, from energy right through to food and all the basics.

Just spend the money on your car it is a known any other car is an unknown.

wolvoman

Agree with the comments here. OP, you sound like you maximise use of the depreciation curve by holding onto a car for a while.

Leasing, assuming a new car, is much more targeted at those who like to replace every 2-4 years.

And your upcoming bills will be small cost compared to the depreciation loss of a replacement right now. There might be some ‘rise’ in used car prices in the very near term, but expect them to revert at some point once new car supply chains have absorbed current blockages.

Ibrahim5

We have got a good local transmission specialist that does all the clutches and gearboxes for taxi drivers etc I phoned them recently. They have a waiting list of over one month for all work. As people keep older vehicles for longer that will be the next shortage.

jimjames

On many cars the timing belt needs to be replaced every 4 years (or mileage based) so having owned for 9 years you must have had to replace it at least once (I presume). I wouldnt count any of the items you've listed as a reason to ditch a car, they are all routine maintenance and should be factored into your costs.

Even doing all of them will be much cheaper than buying a new car. A £9k car will come with another set of issues or maintenance, unless you're buying new with warranty then you will have to factor costs into your ownership.

motorguy

Filly_Gilly said:

Hello,

Keen for some thoughts please. I have a 13 year old car, a bit battered on the outside but a decent drive. My plan was always to run it into the ground before thinking of another. But, I had my first big(ish) garage bill and expect that at some point I'll need to replace brake pads, timing belt and tyres etc. So far, apart from the yearly service, I've had no major work needed since I bought it 9 years ago. 

But, I'm wondering if now is a sensible time to replace it. My next car  would need to  be a petrol, cheap to run, used family car but, I'm sure many other families will be looking for exactly the same with petrol costs going up and wonder whether this will cause these types of used cars to shoot up even more.

I know leasing is popular right now but as I am looking to spend no more than £9k on my next car (less if possible), I don't think this is cost effective and also feel uncomfortable with not owning the car at the end of the period 

I was thinking about an electric car (a used Nissan leaf) but with fuel costs as they are and the high costs of batteries, I'm not convinced this is cost effective either.

What do people think? Do I just bite the bullet in anticipation of further increases? Are leases more sensible? Is an old leaf the way to go?

Thanks

I would do any essential work it needs now (such as a timing belt if its due), keep on top of maintenance and drive on at it.

It'll likely cost you buttons compared to the depreciation on a £9K car (which will need maintenance anyway), and payments on a lease car could be a monthly bill you want to avoid with rising cost of living.

motorguy

Ibrahim5 said:

We have got a good local transmission specialist that does all the clutches and gearboxes for taxi drivers etc I phoned them recently. They have a waiting list of over one month for all work. As people keep older vehicles for longer that will be the next shortage.

Where have you been this last 18 months?

Prices of pretty much all used cars are going through the roof as buying habits have already changed, shortage of new cars and people keeping cars they'd otherwise have sold.

Ibrahim5

Yes I am saying that shortage of repairers is a problem as people keep cars longer. If you need a clutch doing most people don't want to wait a month. Previously they would always be able to do it in a few days.

Grumpy_chap

motorguy said:

Ibrahim5 said:

We have got a good local transmission specialist that does all the clutches and gearboxes for taxi drivers etc I phoned them recently. They have a waiting list of over one month for all work. As people keep older vehicles for longer that will be the next shortage.

Where have you been this last 18 months?

Prices of pretty much all used cars are going through the roof as buying habits have already changed, shortage of new cars and people keeping cars they'd otherwise have sold.

I think the suggestion was that, as people are now keeping cars longer / older, then the capacity to get major replacement items such as gearboxes will become restricted.