Bangernomics: Is this the cheapest possible motoring?

jimbo_the_jetset

I think I actually make money from my banger, beat that!!

I've got a 1.1 1991 Peugeot 205 with ~125K on the clock. Commonly get 45mpg normal driving and on a recent full tank motorway run was pleased to say I got 56mpg!! Bearing in mind I was getting 40p a mile for those 500 business miles (nice big tank in old cars!) = £200.

The car cost ~£300 3 years ago. Had a few bits over the years but I'm sure I'm still in net profit from business miles. Oh and £96 insurance for the year (I'm only 27, 4 years no claims and live in a bad insurance area), cheap tax, the benefits go on. General maintainance costs the price of filters and oil, £20, and a morning of my time with regular tea breaks.

And STILL people say to me 'when are you going to get a new car?' - never I hope!!

whowants2brich

The other point to mention is that if people have a banger, they only need 3rd party insurance, rather than fully comp - which could save a bit as well, depending on the insurance history etc. The downside is that changing the car every few months (or at least during the term of insurance) might cost more to make amendments to the insurance contract...

gizmo2brian

I fully agree with this idea of buying bangers. I've got a P reg ford escort, bought 18 months ago for £495, sold as seen from a garage. It had 6 months of MOT and 3 months tax and had been well maintained. It sailed through it's MOT last year, all it needed was a bit of duct tape slapped over the rusty rear wheel arch (a common issue on Escorts). It starts first time, I've done almost 10,000 miles since buying it. OK, it's a "summer car", because when the weather turns bad I know the speedo will stop working ( a quick tap on the dashboard makes it work again), the rear window wiper may or may not work, the electric windows probably won't work (but who opens the windows in the winter) and the boot gets a bit damp, but as long as it starts and runs I can live with it's little quirks. I'm prepared to spend a reasonable amount to get it through its next MOT (upto about £50). Anymore than that it'll go to the scrappies and I'll invest in another cheapo. I've been through the "shiny car" stage, but getting older means I don't need to keep up with the Jones's any more, nor do I need to take on debt for a lump of metal!!!

golders

As part of your banger planning make sure you work out its Miles Per Gallon (MPG).

I use this handy free site: www.petrolcalculator.co.uk & www.dieselcalculator.co.uk

Worth bookmarking for the future banger planning.

cliffe

This method works for us, although our current car is nice to drive and looks fairly tidy, so I wouldn't call it a banger. It is a P reg Mazda 626 and cost £500 3 years ago, I guess it has cost £150 a year or so to keep on the road. I could still probably get more that I paid for it, but at the moment I plan to run it into the ground.

A good trick is to get a car with a minor fault that is easy to fix - our boot doesn't stay up on its own. We could have fixed it, but a bit of wood wedged in does the job. Of course, the fact that it has this problem means that the car was a lot cheaper than it should have been!

Bahney

i am in a similar position now if i am honest, i have always gone for 5-7k cars, currently owning a fiat coupe 2.0ltr which i paid 6.5k for 3 years ago, i am selling that this weekend for 3k and i am getting a banger for sub 500quid.

the car itself has cost me about 1600 on insurance over the three years, and about 1000 in cambelt/tyres/services etc and i have done about 25k in it,

expencive motoring you say...well i agree but i would not change that for the world, this car was my dream car i adore it and still do, it is a pleasure to drive and has been a pleasure to own and iam going to be gutted that i have to sell it (can't justify the cost's anymore)

my point is that yeah it is great owning a banger and saving lots of money but dont scoff at those who have sacrificed a lot to have something that they have dreampt of for years or have worked extra hard to get, it is there money to spend and there choice what to spend it on. i dont mean to start an arguement or anything but i think it is always good to try and see it from the other side every now and then

i will be officially joining the banger club in the next week...arraaagghh! what will i do with all that extra cash..ohh yeah pay off the mortgage, lol

adrianlowes

I am seriously considering going down this line. My current car is a Kia Sedona as I have a mobile Disco business so it is handy for carrying equipment and I use it to go to work and back for my full time job. Problem is with the 2.9L engine it isn't very good on fuel for my commute. considering getting a small van for the Disco and a banger to go to work and back. The thing I would ask is how good do the insurance quotes come out on the bangers. Presumably you all only insure the 3rd party. I would have to start a new policy with 0% no claims as I would be using my existing no claims o the van.

anewman

adrianlowes wrote: »

Presumably you all only insure the 3rd party. I would have to start a new policy with 0% no claims as I would be using my existing no claims o the van.

I'm insured third party fire theft as the price is cheaper than for third party only, not sure why but no point paying more for less cover.

adrianlowes wrote: »

My current car is a Kia Sedona as I have a mobile Disco business so it is handy for carrying equipment

A good car for you could be a Skoda Felicia Estate. The rear seats can be removed easily without any tools and the boot space on it's own is rather big.

stress_head_5

I have a 1998 1.8 Mondeo LX which I paid £1200 for 2 years ago with 65K miles. Complete with all the goodies I could wish for - air con, quick clear windscreen, CD player, remote locking, full service history. Also the previous owner was called Norman, not a name I associate with boy-racers! so it was well looked after.

I've done 30K (mostly work miles @ 40p per mile) and never had a break down. The only out lay has been on a set of front disks (~£20) and a new battery (~£80). I service it myself and it has sailed through 2 MOT's.

One point I noticed when looking for my "banger" was that larger cars tend to be cheaper than medium and small ones. I imagine this is due to availability, ex-fleet cars tend to be larger. And also there is probably higher demand for small/medium cars for new drivers and "run arounds". This is great for me as I prefer larger cars and enjoy the comfort on the motorway.

I used to look for Diesel engined cars but now find that Petrol is cheaper in the long run. Partly due to higher fuel cost, but also the equivalent car in a diesel engine seemed to be around £300-£500 more expensive than the petrol, I figured I would have to do alot of miles to recoup this in fuel economy. My mondeo usually gets around 35-39 MPG anyway.

I agree that Japanese and German cars are more reliable, but parts also tend to be more expensive if you do want to repair. I Stick to Ford or Vauxhall - parts are cheap, widely available new or at scrap yards.

mbb123

i do similar in that i look for a decent low milage car in the £500-700 range
and run it into the ground. current car a vauxhall corsa cheap to run 45 mpg cost £600 4 1/2 years ago and should i sell it on worth about £300 now. all i have spent over the time is new tyres (7 i think @aboiut £40 each) 2 lots of brakes 1 when i bought it and another just a month ago, and a few new light bulbs rear break keeps going every 6 mths or so prob a small fault but much cheaper to spend 60p on a new bulb than to fix electrical probs, most to get through mot`s.
pay garage twice a year to change oil used to be £30 but recently £40 far too messy a job for me and change spark plugs air filters myself.
over the 4 1/2 yrs inc mot fees & depreciation spent aprox £800