The Economics of Car Ownership

[expat]

what about buying brand new, knowing the history and running it for 6 or 7 years ?

It is true, most people who have done that have been very happy about it. That would depend on the history (yours) being one that you like. But it is amazing how a modern car properly looked after gives you very little trouble for a long time. Buy used and you've got to ask who makes the selling market: answer, all owners of lemons, wrecks, and abused cars want to sell; many owners of cared-for quality items want to hang on to them.

I've got one that I bought new in 1999 and it's long paid-for so it's all free now . I'll run it till it breaks, on the Bangernomics principle (If it ain't broke don't fix it; if it is broke, don't fix it - brakes and steering excepted).

In fact I'm thinking of garaging my main car and getting another banger

[milanbenes]

morning all,

to answer a few questions, I don't want a new car for new car sake and it is not my life goal to buy a new car

expat, the 6 year old 1.9tdi 4x4 skoda now has 120,000miles, the turbo has packed up so it is now an sdi and there are funny rumblings from the backend when I go over bumps, so whatever happens it's gonna need some hefty cash spent on it.

why think about buying a new one ?

when I got this one it was three years old and had 60k miles, I would love to run it up to 350,000 miles but with these problems at 120k miles I am not sure it will get that far without significant investment

which leads me to question, is it worth every three years buying a three year old car and having to replace it three years later

what about buying brand new, knowing the history and running it for 6 or 7 years ?

it is simply a question of economics, nothing to do with wanting to own a new car, unlike el_duder don't have life goals of wanting to buy a brand new golf

thanks for the feedback,

Milan.

[gingerjedi]

Why is that?

I have never understood why anyone would sell a one year old car unless:

a) it's a lemon.
b) it's a high milage car that's been clocked or abused (or both).

tim

Some people have more money than sense and can afford to take a hit for a shiny new one, I just bought a 1 year old Honda with 2 years warranty and just 6k on the clock 5k cheaper than new, don’t be so pessimistic.

[expat]

Reminds me of that program last night, 'pay off your mortgage in 2 years' they made him sell his beloved classic wooden sailing dingy and his sports car to get some cash to put in the pot, **** that if paying off your mortgage early means selling the things you enjoy I'll wait thanks.

If you buy other things with money that you could have used to pay off the loan on your house, you are in effect buying those things on credit. Just as long as it's a decision made with eyes open.

Yes I can quite see that there might be things better than retiring early. Personal choice.

[tim123]

You would lose less money on buying the 3 year old option assuming it’s reliable but you will get a 3 year warranty on the new one.

Buy a 1 year old and have the best of both worlds!

Why is that?

I have never understood why anyone would sell a one year old car unless:

a) it's a lemon.
b) it's a high milage car that's been clocked or abused (or both).

tim

[Francko]

Buy a decent cheap car that will last for up to 10 years (buy it 1-2 years old, very cheap). Replace 3 times over your working life, saving many thousands.

Meanwhile, rent the smallest place suitable for your needs, instead of buying the biggest you can afford.

Invest the savings. Retire.

So you would drive a cinquecento for 30 years just to retire a few years before???

Be glad now, there is no certainty about tomorrow (chi vuol esser lieto sia, di diman non v'e' certezza).

[gingerjedi]

Buy a decent cheap car that will last for up to 10 years (buy it 1-2 years old, very cheap). Replace 3 times over your working life, saving many thousands.

Meanwhile, rent the smallest place suitable for your needs, instead of buying the biggest you can afford.

Invest the savings. Retire.

Reminds me of that program last night, 'pay off your mortgage in 2 years' they made him sell his beloved classic wooden sailing dingy and his sports car to get some cash to put in the pot, **** that if paying off your mortgage early means selling the things you enjoy I'll wait thanks.

[expat]

Buy a proper car like an Audi or Bmw, instead of your skoda.

Buy a decent cheap car that will last for up to 10 years (buy it 1-2 years old, very cheap). Replace 3 times over your working life, saving many thousands.

Meanwhile, rent the smallest place suitable for your needs, instead of buying the biggest you can afford.

Invest the savings. Retire.

[Francko]

what to do ?

Milan.

Buy a proper car like an Audi or Bmw, instead of your skoda.

[DimPrawn]

Use public transport. Cars are evil. It is a scientific fact that this January was warm, solely due to the selfishness of middle class women in Chelsea who drive 4x4's. Evil bints.

[expat]

car will need replacing soon

what to do

...
Milan.

Does it really need replacing?

[gingerjedi]

Or just buy anything Japanese of any age, they never break down.

Cue tales of woe and european car snobbery....

[lukemg]

New car is great but the 2 week buzz that wears off very quickly does not equate to the 5-10k first year loss on anything decent (you think you want to keep it 6 years - after 2 or 3 you will want a change)
Look for something 18mths old, still got loads of life in but someone else has taken the hit.
For me, I really need a different car every 6 months to keep any interest. Having been lucky enough to have had some very fancy cars, the initial buzz of them is great but 3 months later it is routine and just another car.

[gingerjedi]

You would lose less money on buying the 3 year old option assuming it’s reliable but you will get a 3 year warranty on the new one.

Buy a 1 year old and have the best of both worlds!

[milanbenes]

car will need replacing soon

what to do

buy another 3 year 60,000 miler and put another 60,000 on in three years and then have to replace

or

buy a new car and put 120k miles in 6 years and know the overship
history

what to do ?

Milan.