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  • FIRST POST
    michael1983l
    Beamer or Banger
    • #1
    • 12th Dec 06, 10:14 AM
    Beamer or Banger 12th Dec 06 at 10:14 AM
    Now I have been the victim of wanting a flash car in the past so I thought it would be handy to pass on my experiance onto some of our younger members who may be on the same wavelength i was.

    Pretty much my first car was a 1 year old Ford Focus bought from a dealership. I paid £9000 for it and was happy as can be at first. I was paying £194 a month for the privelidge of driving this car. Then add on the £120 a year tax disc. and £800 quid a year insurance, plus £40 a month on average in fuel.

    Yearly total £3728

    How much was the car worth 12 months later when I sold it £5500

    leaving a total yearly loss of nearly £7000


    Now this time round I have bought a 13 year old Mazda 323 for £350, £120 in tax, £400 insurance and £30 a month in fuel bringing my yearly total to £1230 saving me £5770 on last years total. And the car hasnt broken down onm me once yet.



    Moral of the story, no matter how much it appeals to get a flash car, please dont if its going to stretch your funds to its limits. I learned the hard way so please take my advice so you dont have to.

    Last edited by Former MSE Natasha; 19-12-2006 at 5:27 PM.
Page 1
    • BlondeHeadOn
    • By BlondeHeadOn 12th Dec 06, 10:29 AM
    • 2,208 Posts
    • 2,963 Thanks
    BlondeHeadOn
    • #2
    • 12th Dec 06, 10:29 AM
    • #2
    • 12th Dec 06, 10:29 AM
    Mazdas are great, I have had one for years and it just goes on and on... very good choice, and I agree totally with your thinking!

  • aurora borealis
    • #3
    • 12th Dec 06, 10:35 AM
    • #3
    • 12th Dec 06, 10:35 AM
    I have very flash cars, usually saabs ... secret is to buy them older.

    At the moment we have a top, top, top of the range 95 Griffin. It has heated, ventilated, leather, electric seats, CD multichanger, trip computer and every toy you could think of.

    5000 - bargain
    de do-do-do, de dar-dar-dar
    • iolanthe07
    • By iolanthe07 12th Dec 06, 10:38 AM
    • 5,099 Posts
    • 4,772 Thanks
    iolanthe07
    • #4
    • 12th Dec 06, 10:38 AM
    • #4
    • 12th Dec 06, 10:38 AM
    I'm terrible with cars. Buy a new one every three years because I hate having to have an MOT. That's why I'm on this board!
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • Snaggles
    • #5
    • 12th Dec 06, 10:42 AM
    • #5
    • 12th Dec 06, 10:42 AM
    I have a 12 year old Nissan Micra, which has yet again just sailed through it's MOT (Damn you car!! I was hoping for an excuse to buy a new one lol!).

    I don't think I would ever buy a new car though, even if I could afford it - they just lose their value so quickly, but then I'm a typical girlie when it comes to cars - if it gets me from A to B, and is a pretty colour, I'm happy lol!
    "I wasn't wrong, I just wasn't right enough."


    9780007258925
  • funky-footprints
    • #6
    • 12th Dec 06, 10:44 AM
    • #6
    • 12th Dec 06, 10:44 AM
    we always tend to have new or newer cars, (dont keep them past 4/5 years? is that classed as new/newer?) but have never ever bought on finance, we change our car when we can afford to. Hence being on here too !!

    My dh is pain as he has to drive high performance too, (currently driving as Audi S8) so we also fork out excess on his insurance !!!! I want to change mine in the next 12- 18 months, but it should be his turn first, thankfully he has lost so much on his, he has agreed to keep it until he hits about 150k on the mileage !! gawd it will be a right liability by then !!!!!
    Last edited by funky-footprints; 12-12-2006 at 11:00 AM.
    • iolanthe07
    • By iolanthe07 12th Dec 06, 11:37 AM
    • 5,099 Posts
    • 4,772 Thanks
    iolanthe07
    • #7
    • 12th Dec 06, 11:37 AM
    • #7
    • 12th Dec 06, 11:37 AM
    My employer gives me an interest free loan otherwise I couldn't afford to buy new, but it still doesn't really make much sense. The initial depreciation is huge. I wish I could break myself of it.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • TTMCMschine
    • #8
    • 12th Dec 06, 11:43 AM
    • #8
    • 12th Dec 06, 11:43 AM
    I have a fully expensed company car. Costs a fortune in tax, but at least if it breaks down etc it just gets fixed & I don't have to worry about it.
  • TepidWater
    • #9
    • 12th Dec 06, 11:48 AM
    • #9
    • 12th Dec 06, 11:48 AM
    Good thread. I've been through the "really stupid car purchase" phase. My personal stupidity highlight was the purchase of a 4LTR petrol Jeep. This entailed a £350pm loan, £94pm insurance, £100pa tax and . . . . wait for it . . . . approx. £450pm petrol! Doh!

    Now driving a 3yr old small diesel. Saved up and paid off in full. Car tax at £50pa and insurance at less than £300pa.

    The really, really stupid bit is that I bought the Jeep when I was in debt and was earning £30k less than I'm earning now.

    "Experience wasted on the old"? - definitely.
    • immoral_angeluk
    • By immoral_angeluk 12th Dec 06, 12:31 PM
    • 23,754 Posts
    • 22,635 Thanks
    immoral_angeluk
    I had a 12 yr old corsa for 3 yrs. My mum bought it for me for £1000. together we spent about 3 times the purchase price of repairs to get it actually working. Value when I part ex'd it for our new car? £10 scrap value because the cambelt/camshaft were about to destroy the inner workings of the engine and would've cost around £500 to fix just to get it safe to drive. £300 a yr insurance third party f+t, £120 a yr tax had 100,000m on it.... grrrr
    We now have a safe a reliable rover 25 (3 yrs old) and although we may be paying over the odds as it's on finance but it's only got 20,000m on it (Which is great for a 3 yr old car!) and yes I know rover have gone bust etc BUT we'll be saving a fortune by having a newer car that doesn't need any major repairs doing on a weekly basis... tax is £130 a yr, insurance for both me and my husband is £360 comprehensive.. so overall I'm much happier and feel safer (Especially with a toddler and a new baby due in a few weeks) having a newer car.

    If you're going to buy and older car.. just because you don't get ripped off for repairs!
    Total 'Failed Business' Debt 29,043
    Que sera, sera. <3
    • immoral_angeluk
    • By immoral_angeluk 12th Dec 06, 12:43 PM
    • 23,754 Posts
    • 22,635 Thanks
    immoral_angeluk
    we always tend to have new or newer cars, (dont keep them past 4/5 years? is that classed as new/newer?) but have never ever bought on finance, we change our car when we can afford to. Hence being on here too !!

    My dh is pain as he has to drive high performance too, (currently driving as Audi S8) so we also fork out excess on his insurance !!!! I want to change mine in the next 12- 18 months, but it should be his turn first, thankfully he has lost so much on his, he has agreed to keep it until he hits about 150k on the mileage !! gawd it will be a right liability by then !!!!!
    by funky-footprints
    Why does he have to drive high performance?
    Total 'Failed Business' Debt 29,043
    Que sera, sera. <3
  • funky-footprints
    [QUOTE=immoral_angeluk]
    We now have a safe a reliable rover 25 (3 yrs old) and although we may be paying over the odds as it's on finance but it's only got 20,000m on it (Which is great for a 3 yr old car!) and yes I know rover have gone bust etc BUT we'll be saving a fortune by having a newer car that doesn't need any major repairs doing on a weekly basis...

    I hope the above it true, my fil in law had, had a guts full of driving a 52 plate renault laguna around that seemed to spend more time in the renault garage than outside his house, so he sold it and bought a 54 rover, hoping for also for good old safety & reliabilty, he has just spent 1600 on it, after just 12 months of driving, not to mention the depreciation value, I think he is just unlucky with cars !!
    x
  • archived user
    Couldnt agree more. I have a 14 year old renault which has been looked after very carefully. Cars serve a purpose and whether you get loan, HP or pay with cash you are always forking out. Defo go for the used car. In an attempt to reduce our debts, we are in the process of selling one car for approx 6K and we have bought one to replace it for 2K and am gonna bank 4K - that is if I manage to sell the bloody thing!
  • Timmne
    We now have a safe a reliable rover 25
    by immoral_angeluk
    Ha - Rover must have sold you some of those pigs with wings!!
  • funky-footprints
    Why does he have to drive high performance?
    by immoral_angeluk
    its just his thing !! a boy thing !!! i ask the same thing every time i renew his insurance policy !! At least he is keeping this one for at least another 2-3 years !
    x
    • immoral_angeluk
    • By immoral_angeluk 12th Dec 06, 12:48 PM
    • 23,754 Posts
    • 22,635 Thanks
    immoral_angeluk

    I hope the above it true, my fil in law had, had a guts full of driving a 52 plate renault laguna around that seemed to spend more time in the renault garage than outside his house, so he sold it and bought a 54 rover, hoping for also for good old safety & reliabilty, he has just spent 1600 on it, after just 12 months of driving, not to mention the depreciation value, I think he is just unlucky with cars !!
    x
    by funky-footprints
    Ouch! It's true about the depreciation value especially now that Rover have gone bust but I like to think that Rovers are reliable..... I certainly would never buy another corsa! lol! My mum used to have a Nissan bluebird which was built like a tank and nothing ever went wrong with it even though it was a E reg and my mum kept bumping into things in it!
    Total 'Failed Business' Debt 29,043
    Que sera, sera. <3
    • foxybabe
    • By foxybabe 12th Dec 06, 12:49 PM
    • 733 Posts
    • 300 Thanks
    foxybabe
    I have very flash cars, usually saabs ... secret is to buy them older.

    At the moment we have a top, top, top of the range 95 Griffin. It has heated, ventilated, leather, electric seats, CD multichanger, trip computer and every toy you could think of.

    5000 - bargain
    by aurora borealis
    Saabs are great, we got a top of the range 93 for 1000. It was obviously the previous owners pride and joy as it is like a brand new car. Hopefully it will last us a good few years. The only complaint i have is it is a bit juicy.
    • immoral_angeluk
    • By immoral_angeluk 12th Dec 06, 12:49 PM
    • 23,754 Posts
    • 22,635 Thanks
    immoral_angeluk
    Ha - Rover must have sold you some of those pigs with wings!!
    by Timmne
    Well it's a lot safer and more reliable than my old corsa! lol!
    Total 'Failed Business' Debt 29,043
    Que sera, sera. <3
  • save-alot
    I had a Toyota Camry for years, cost little to buy, was reasonable on fuel and no repairs needed for about 4 years until at over 100k miles got some big break problems, so I thought not worth spending on a 12yr old 100K car.

    HOW WRONG, my next car did only half the mpg, had its own problems so got sold rapido, £1000 loss on that one (vauxhall omega)

    Bought a Renault Scenic diesel, only a few years old, fantastic inside, perfect body, superb MPG but really bad engineering, had major problems from the word go, oil leaks that would need engine out appeared (should have been easy but sump cover had seized bolts), then drive belt pully seized up (£450) then the drive shaft broke, the garage welded this up and it rapidly got traded in for a brand new Focus (about 2K loss in the deal).

    The Focus has been with me for 2 years now and costs little to service (£140 year) and little to insure (last one at £169) and has saved me loads compared to the last two dogs.

    I really wish I had fixed the Camry though
  • aurora borealis
    Saabs are great, we got a top of the range 93 for 1000. It was obviously the previous owners pride and joy as it is like a brand new car. Hopefully it will last us a good few years. The only complaint i have is it is a bit juicy.
    by foxybabe
    Ours is too
    17mpg around town

    I'm scared to use it
    de do-do-do, de dar-dar-dar
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