Making the switch from running new cars to older cars

[Sevo]

I'm getting increasingly keen to change my current car (Golf GTI, about 2.5 years old). A lot of people on here espouse the theory that you shouldn't spend £35k on a new Golf R, for example, because for that you could buy a <fill in the blank>.

I find myself alternating between looking at new Golf R, Audi S3/4 etc and older FFRR's, RS4's, XFR etc.

However I have never run a car older than about 5 or 6 years old, I've always bought new or nearly new and haven't made it past about 45k miles in anything. So I've certainly paid out in depreciation terms. The same applies to most of my friends and family with the exception of people who resent spending money on cars and run about in something old but cheap. I know my close friends and my parents would think I was being stupid buying older but "flashy".

The idea of running, for example, a 6 or 7 year old RS4 unnerves me. Warranties seem to be of debatable value and the thought of spending £30k on such a car and then getting a £5000 bill shortly after puts me off. But you can get much more exciting cars if you buy older. And round and round in circles I go. I do appreciate that the initial budget for old needs to be a bit less than for new to leave a reserve.

Anyone got any thoughts on moving from one to the other. Always bought older and then got sick to death of bills and bought new? Or been braver than me and loved it?

Realistically its not a good time to change car at all as my wife is on mat leave. But the second things are more stable the hunt starts and I'd be interested to hear peoples opinions and experiences.

[Sevo]

Interesting replies, thanks all.

andy-xr said:

... but I've had to get my hands dirty in a few cases to keep things working. In other cases I had to hand them over to a garage to fix as I didnt have the tools or knowledge. I try and do as much as I can at home for repairs, tbh the S Type I have isnt costing a lot to keep on the road, but I'm heading off the the scrapyard at lunchtime to see if I can track down a rear suspension arm and bush to stop mine squeaking

DIY is not really an option for me. I don't have the time or skills to do much more than change wiper blades. I accept that increases the running costs and perhaps reduces what I could/should buy.

nunpuncher said:

I feel physically sick when i think about how much 18 months in that BMW cost me.

Yup. But it's hidden cost rather than a bill...

delays said:

It's a psychological, perception thing.

Ozzie Osmond said:

It's not just the bills but the hassle and time of having a car that needs more frequent trips to the garage.
...
Please, whatever you do, don't go and buy a high performance car and stick cheap tyres on it. So many people get caught by that one.

This is an issue too. I need a reliable car and can't be without a car for more than 24hrs with work.

As for tyres, I wouldn't dream of it. One, soon to be two, kid and my wife in the car and the need to drive through Bradford means car control is an absolute must.

[Sevo]

TooMany2cvs said:

Why do you need to "make a switch"? If you _don't_ switch, then you automatically gently go from running a new car to an older one - in real time! Each year, you gently move to running a car that's a year older than the car you were running last year. It's magic! Even better, you don't have that hassle of having to sell one car and buy another.

Upgradeitis. The golf was a running cost decrease exercise whilst we moved house and a few other bits and bobs. I've never gelled with it, miss the 135 so much. On that point though one of my thoughts is hang on to the golf for another 3 years (till child no.2 is in forward facing child seat, we've used rear facing till 3 for my daughter and will do the same but the seats are huge) and save to buy something more expensive and less compromised by family like a newish 911. Less maintenance, more depreciation but perhaps more reassuring to run.

dtmpower said:

Can you expand on this ? I personally think having a newer car is deemed more flashy - as it's a keep up with the Jones' mentality. Buying something you want that is within budget but the compromise being it's a few years older or has high mileage is more sensible ?

Maybe flashy is the wrong word. It's a matter of perception of cost. New golf versus old RS4. As per the whole topic its perceived to be much more expensive. Family and friends thinking I'm mad is not a problem. I mentioned it to illustrate the mentality I've grown up in/surrounded by, and I am still influenced by it despite trying to rationalise.

[Sevo]

chris watton said:

You could of course stick on a private plate, then most wouldn't know the age of the car - especially these days, when most new cars look the same...

dtmpower said:

How are you still influenced by it though ?

I'm not worried about how I'm perceived. I'm struggling to get away from the nagging fear that I'll buy a money pit and waste a fortune. But cerebrally I know this is true:

Shaoxter said:

Same as spending £30k on a brand new car and taking a £5k depreciation hit as you drive it off the forecourt...

[Sevo]

Mr Taxpayer said:

Upgradeitis.
We borrow money at rates we can't afford to buy things we don't need to impress people we don't like.

Do you want a car for your growing family or a status symbol? Seems to me you need to answer that question first. When you do, there's plenty of very good 8-10 year old cars out there for £10k. Spend the rest on a holiday or 5 or paying off a chunk of mortgage (if you have one). My only tip would be 10+ year old cars can sometimes be tricky to European Breakdown cover for, but if you just saved 20k that shouldn't trouble you.

Edited by Mr Taxpayer on Tuesday 19th August 12:20

I'm not worried about impressing people or having a status symbol, I buy cars that I think I'll enjoy driving, the 135 in my history kinda backs that up. I don't really enjoy the golf, which is a shame. The other factors are cost, safety and reliability. I don't spend what I can't afford but as I'm PAYE in a field where unemployment is not an issue finance makes reasonable sense IMO. An older car would be bought with a loan with a repair fund sat in a cash ISA, a newer car would be PCP'd in all likelihood.

I'd rather spend more than 10k on my car, everyone is different in this, I agree there are good cars for <10k. The mortgage is manageable, we do take holidays, I like cars and I'm happy to spend what I do. Life is too short to spend every penny on bringing the mortgage down.

But thats digressing from the point.

The other factor I'm aware of is technological progress. New cars are getting faster and safer, a B7 RS4 is a similar speed to the Golf R for example and possibly less safe in an accident (debatable I agree).

[Sevo]

Mr Taxpayer said:

When you do, there's plenty of very good 8-10 year old cars out there for £10k.

I've been thinking about this. I don't think there is a car out there that would fulfil my wants and needs for £10k actually.

On paper the new Golf R is what I'm after. Circa 5s to 60, fun to drive, 4/5 doors, able to fit one of these in the back, reasonably safe and 4wd a bonus but if 2wd must not be a deathtrap in snow.

Is there a 10k car that does this?

Hasbeen said:

I bought 2 very tired TR7s for $1200...
In the same time my wife has had..... All up capital cost $68,000. Hell she could have bought a small house for that.
So there you are, drive a new car & feel rich, or a TR7 & actually be rich.

Its sums like these that make me question what I'm playing at buying new cars. That said, I suspect you are an extreme example!

[Sevo]

Escy said:

A 10k car similar to the Golf R has to be a Golf Mk5 R32 surely?

Too slow. Part of the reason the current car disappoints is the speed.

[Sevo]

Mr Taxpayer said:

All Subarus post-99 have ISOFIX, Subaru and Volvo being among the first to adopt the system. All Subarus come with all-wheel drive. A lot of Subarus are easily capable of a 5s 0-60 time. Their dealers keept winning Dealer satisfaction surveys and their warranty claim & reliability figures in any survey you choose kick all the German cars into the gutter. A lot of Subarus are available around the 10K price point.

If you are being honest with yourself and the car as a status symbol doesn't matter, why are you only considering German cars? I own (and get stick for, admittedly) owning an Impreza Wagon with an LPG kit. With your budget, I'd look for a Legacy Spec B, 3-litre flat-6. Top Gear TV's Car of the Year a few years back.

I have a spare set of wheels with winter tyres fitted for the Impreza and the wife's 2WD Panda. Whatever you car you buy, please, please get a set of winter boots for it. Read some of the reviews in Top Gear mag about their long-term MP4-12C and how transformed it was after fitting winter rubber.

Just a suggestion...
http://www.autotrader.co.uk/classified/advert/2014...

No, I don't work for Subaru or a tyre company. I'm an Engineer that likes a fast drive and and apply engineering principles to my car selection choices, hence a total absence of badge-love.

Edited by Mr Taxpayer on Wednesday 20th August 09:13

I thought Subaru would be suggested, I've thought about it before. When I bought the 135 I test drove an Impreza 330, it was very good but four times the cost to insure and not very comfortable. I preferred the 135 as an overall package. A top end legacy is not a bad idea though.

Not German badge obsessed at all, although I concede my car history looks that way, I've been eyeing up used XFR's and ISF's. The Golf R and RS4 examples are meant to illustrate my point rather than being what I'd necessarily buy.