Depreciation resistant contractor's cars?

[bobspud]

Pick something you want to drive then buy it. You will lose tonnes of cash whatever you do...

If you don't drive to the clients site then go to town. But if you are regularly in their view, then do yourself a favour and pick something that is not totally crass. Unfortunately, in the current climate even a mid level Audi or Benz will annoy the crap out of clients.

[NickFitz]

It's exactly ten years since I bought my Ford Orion 1.6i Ghia for £250

I have no idea what, if anything, it's worth in financial terms. On average, it costs about £250 again each year to get it through the MoT. Most years something else needs doing; the most expensive was a new gearbox and clutch, at £750, six or seven years ago.

It was manufactured twenty-three years ago next February and driving it makes me happy. I reckon it was a bargain

[PAH]

Unfortunately, in the current climate even a mid level Audi or Benz will annoy the crap out of clients.

True. I once turned up in a new (to me, in reality it only cost me 10 grand) BMW 5 series and one of the directors muttered "that must have cost a lot" as we crossed paths in the car park. I did say "nah, only 10 grand" but then thought maybe even that came across as showing off.

Besides it wasn't me getting out of a nearly new 'executive' car paid for by the company.

I'd have to do like Swayze did in Road House. Drive the banger to the client and leave the decent motor in the garage.

[PAH]

It's exactly ten years since I bought my Ford Orion 1.6i Ghia for £250

Proper bargain. Only way you could maybe save more money would be to go for a £1-2k car (which there's plenty of choice at under 10 years old) and get lucky with nothing serious going wrong over a few years of ownership.

As modern cars are generally reliable, well built, and 90% the same in aesthetic design both inside and out as those 10 years old, manufacturers are having to use 'green' tactics to temp people into newer cars.

Yeah, trade in for a new car to get another 10 mpg or a bit off the annual road tax, but it'll cost you thousands for the privilege, both in purchase cost and depreciation.

[gingerjedi]

Ok for what I class as a disposable car. One you can abuse, abandon, and not really give a tulip about. Love bangers for that stress free aspect, knowing I could replace without blinking an eye. Anything under £10k is a 'banger' to contractors.

10k will get you a lot of 'banger', I'm currently looking at a 2006 Audi A4 Avant 2.0T FSI S-Line which is going for £8.5 with less than 40k on the clock.

I'm concerned even that may be a little extravagant.

[The_Equalizer]

I bought a 1998 Mercedes C230 Kompressor manual with full leather and AMG kit for £1600. I've probably spent another £1K sorting out odds and sods. It has a healthy 197bhp and 116K on the clock. I'm sure there's a few years motoring in it yet.

[DimPrawn]

I love the way the OP starts the thread about owning an Aston Martin for £30K and it degenerates into who has the crappiest sub £1K banger.

Sums up the state of contracting in the UK me thinks. Contractors earning less than most permies now I suspect after bench time and costs taken out.

[The_Equalizer]

I love the way the OP starts the thread about owning an Aston Martin for £30K and it degenerates into who has the crappiest sub £1K banger.

Sums up the state of contracting in the UK me thinks. Contractors earning less than most permies now I suspect after bench time and costs taken out.

Or perhaps they have their head screwed on properly? Eye watering depreciating on a motor has never been my cup to tea. Why not buy a classic car and there's a good chance of breaking even or making a few bob?

[PAH]

I love the way the OP starts the thread about owning an Aston Martin for £30K and it degenerates into who has the crappiest sub £1K banger.

The thread started out looking for "Depreciation resistant contractor's cars", of which both the Aston and the £1k banger fit the bill.

Besides, the best solution is to get one of each. A banger to abuse and portray the poor man image at the client site, and the Aston (or other similar prestige car that may be at the low end of the depreciation curve, e.g. 997) to enjoy at other times.

The sensible option is to get a 3 to 5 year old car for under £10k that has the modern comforts and reliability but low overall running costs.

My thread was intended to see if there may be opportunities in the current climate to go for something a bit less sensible without getting fleeced, as there seems to be lots of interesting cars for relatively little money.

But you're right, with the current economic climate a banger is the best option.

[DimPrawn]

Buy a house in Wandsworth and in five years time you'll make enough money to buy every supercar out there new and still have enough left over to buy a street of northern hovels.

Why even think about cars when property in and around London is going up like a rocket?