So, what the blithering heck do I do now?
Discussion
Hi all,
Basically, do I change my car? Is it worthwhile? Read on...
I do about 22k a year, and for the last 2 1/2 years this task has been performed by a Fabia vRS. It's just ticked over 130k, and in the last few weeks has had a new turbo, new alternator and a boost pipe. It's worth about £3000 in a private sale. In the next year or so, it'll need a new clutch, flywheel and a cambelt. This will cost ~£1200.
I'm naturally worried about future bills popping up out of nowhere. Do I call it quits now, and get something newer with less miles? That way, as I see it, I'd be spending on depreciation rather than repairs, but could be driving something nicer.
A friend has pointed out that I could perhaps pick up an ex-fleet car for say £10k, run it for 5 years and sell for ~£3k in five years time. This would cost me £7k for five years motoring.
Thoughts? I'm tempted by the likes of a 120D / 320D / C200. Could pick up one that's ~5 years old with <50k. Would they hold more potential for big bills as they head up towards 150k miles, compared to the Fabia? OVer the same period, I'd expect the Fabia to hit 230k.
Eep.
Sorry for the rambling post, I'm a bit lost regarding what's 'best' to do.
Basically, do I change my car? Is it worthwhile? Read on...
I do about 22k a year, and for the last 2 1/2 years this task has been performed by a Fabia vRS. It's just ticked over 130k, and in the last few weeks has had a new turbo, new alternator and a boost pipe. It's worth about £3000 in a private sale. In the next year or so, it'll need a new clutch, flywheel and a cambelt. This will cost ~£1200.
I'm naturally worried about future bills popping up out of nowhere. Do I call it quits now, and get something newer with less miles? That way, as I see it, I'd be spending on depreciation rather than repairs, but could be driving something nicer.
A friend has pointed out that I could perhaps pick up an ex-fleet car for say £10k, run it for 5 years and sell for ~£3k in five years time. This would cost me £7k for five years motoring.
Thoughts? I'm tempted by the likes of a 120D / 320D / C200. Could pick up one that's ~5 years old with <50k. Would they hold more potential for big bills as they head up towards 150k miles, compared to the Fabia? OVer the same period, I'd expect the Fabia to hit 230k.
Eep.
Sorry for the rambling post, I'm a bit lost regarding what's 'best' to do.
I flitted between running another shed to a decent car with longer loan payments and settled on the latter.
It's not about the cost, it's about peace of mind and knowing the car isn't going to dump on you. I had 3 years of shedding to good effect and now fancy something I don't have to keep worrying about or have to keep limping to the garage to remedy another minor failure.
Sure it could happen with a newer car but the risk is less.
It's not about the cost, it's about peace of mind and knowing the car isn't going to dump on you. I had 3 years of shedding to good effect and now fancy something I don't have to keep worrying about or have to keep limping to the garage to remedy another minor failure.
Sure it could happen with a newer car but the risk is less.
Have your requirements changed? is the Fabia still fit for your intended purpose? Do you like it? Have you maintained it properly? Is there another car you particularly want?
Financially, running the Fabia into the ground will most likely be the cheapest option. If you keep up with the bills, there's no reason it shouldn't make it to 200k plus miles. It'll need suspension components, bearings, clutch, flywheel, possibly a diesel pump, cambelts etc as you mentioned, but there shouldn't be many other major bills.
Financially, running the Fabia into the ground will most likely be the cheapest option. If you keep up with the bills, there's no reason it shouldn't make it to 200k plus miles. It'll need suspension components, bearings, clutch, flywheel, possibly a diesel pump, cambelts etc as you mentioned, but there shouldn't be many other major bills.
Peace of mind is part of it, I've been stuck on the hard shoulder three times in the last month!
The Fabia still fits my requirements day to day; although something quieter / more refined would be pleasant. However it has to be said, the original requirement was something fun(ish) that wouldn't cost a fortune to run. The recent bills - and upcoming bills - are blowing the justification for buying the Fabia out of the water, to be honest.
I've maintained it pretty rigorously - serviced on the dot and even gets an intermediate oil change between services. That's party why I was so disappointed when the turbo went!
Do I particularly like the Fabia? No, not overly, but I don't dislike it either. It's a car. It doesn't do anything particularly well, nor does it do anything particularly badly. On the other hand, there's nothing that makes me weak at the knees, a BMW would be nice but I'm not desperate to get my mitts on one.
The Fabia still fits my requirements day to day; although something quieter / more refined would be pleasant. However it has to be said, the original requirement was something fun(ish) that wouldn't cost a fortune to run. The recent bills - and upcoming bills - are blowing the justification for buying the Fabia out of the water, to be honest.
I've maintained it pretty rigorously - serviced on the dot and even gets an intermediate oil change between services. That's party why I was so disappointed when the turbo went!
Do I particularly like the Fabia? No, not overly, but I don't dislike it either. It's a car. It doesn't do anything particularly well, nor does it do anything particularly badly. On the other hand, there's nothing that makes me weak at the knees, a BMW would be nice but I'm not desperate to get my mitts on one.
Running a cheap car into the ground is always the cheapest way - modern cars can go on for a long time. Of course you have to spend money on things that wear out, but things wear out on all cars.
I guess there are two types of wear - fast and slow, I suppose. Things like brakes, tyres, wipers etc are 'fast' wear - you'd need to replace those on any car you did 20k a year in for a few years. 'Slow' wear things are suspension bushes, clutches and exhausts - they need replacing on a longer cycle, so a newer car might not need them doing when you had it.
An expensive failure on a well maintained car is almost random I think. It could happen to any car. Normally it doesn't
All the 'slow wear' replacements you will need to do will not be as much as buying a more expensive car. I hsve an old car, and sure it is a bit sloppy in the bushes (memories of going to the park as a teenager ...) and the exhaust has seen better days, but compared to the one 'expensive' car I had, getting those fixed is peanuts because I didn't pay £6k for it plus £190 a month.
In fact the whole car cost me less than 4 months payments on the more expensive car, and I made those monthly payments for 3 years, and paid £5k upfront. And one of the services on it was almost £1k.
Basically, if the Fabia does what you want, and you want to keep costs down, keep it. If you want a nicer car and can afford it, get one. But keeping the Fabia is probably cheaper.
I guess there are two types of wear - fast and slow, I suppose. Things like brakes, tyres, wipers etc are 'fast' wear - you'd need to replace those on any car you did 20k a year in for a few years. 'Slow' wear things are suspension bushes, clutches and exhausts - they need replacing on a longer cycle, so a newer car might not need them doing when you had it.
An expensive failure on a well maintained car is almost random I think. It could happen to any car. Normally it doesn't
All the 'slow wear' replacements you will need to do will not be as much as buying a more expensive car. I hsve an old car, and sure it is a bit sloppy in the bushes (memories of going to the park as a teenager ...) and the exhaust has seen better days, but compared to the one 'expensive' car I had, getting those fixed is peanuts because I didn't pay £6k for it plus £190 a month.
In fact the whole car cost me less than 4 months payments on the more expensive car, and I made those monthly payments for 3 years, and paid £5k upfront. And one of the services on it was almost £1k.
Basically, if the Fabia does what you want, and you want to keep costs down, keep it. If you want a nicer car and can afford it, get one. But keeping the Fabia is probably cheaper.
HustleRussell said:
Have your requirements changed? is the Fabia still fit for your intended purpose? Do you like it? Have you maintained it properly? Is there another car you particularly want?
Financially, running the Fabia into the ground will most likely be the cheapest option. If you keep up with the bills, there's no reason it shouldn't make it to 200k plus miles. It'll need suspension components, bearings, clutch, flywheel, possibly a diesel pump, cambelts etc as you mentioned, but there shouldn't be many other major bills.
This. Financially, running the Fabia into the ground will most likely be the cheapest option. If you keep up with the bills, there's no reason it shouldn't make it to 200k plus miles. It'll need suspension components, bearings, clutch, flywheel, possibly a diesel pump, cambelts etc as you mentioned, but there shouldn't be many other major bills.
Oli.
Sounds like you have been unlucky in the recent months, but if you know the car and have looked after it well then no reason why not to keep using it, budget for other repairs and find a good low priced garage avoid main dealers/over priced specialists.
Owning it past 100k miles has given you a big chunk of depreciation, the next 50 miles will cost you far less in depreciation.
My 2006 BMW 335 has done 180k miles and I have no worries about using it on long trips as its been well maintained and should keep going plenty longer.
Owning it past 100k miles has given you a big chunk of depreciation, the next 50 miles will cost you far less in depreciation.
My 2006 BMW 335 has done 180k miles and I have no worries about using it on long trips as its been well maintained and should keep going plenty longer.
Edited by rallycross on Friday 6th July 17:10
If the Fabia is still a good car for you, keep it. The running costs will never match the depreciation on a newish car. If your requirements have changed or you just fancy something different, now is probably a good time to change. The new car might cost £7000 in depreciation over the time you own it, but you're also going to incur a significant cost in maintaining a bigger car over 100,000 miles of usage. The Skoda has older parts that might go wrong sooner but also has newer parts (e.g. the turbo) that hopefully won't so it's impossible to say which car might have the most failures. Either car could present you with a big bill, so the only certainty is that you'll pay an extra £7000 for the new one.
If the dilemma is purely financial there's no question that keeping the Skoda is the better bet over the term.
If the dilemma is purely financial there's no question that keeping the Skoda is the better bet over the term.
Well, the man maths at the moment goes a little bit like this:
-Skoda is worth £3k. Will cost £1.2k in the next 6-12 months. Total = £4.2k.
-New car purchase £10k.
£10k-£4.2k = £5.8k.
Estimated value after five years is £3k. Therefore the real cost is £2.8k? Or am I talking myself into it?
-Skoda is worth £3k. Will cost £1.2k in the next 6-12 months. Total = £4.2k.
-New car purchase £10k.
£10k-£4.2k = £5.8k.
Estimated value after five years is £3k. Therefore the real cost is £2.8k? Or am I talking myself into it?
AlpineWhite said:
Well, the man maths at the moment goes a little bit like this:
-Skoda is worth £3k. Will cost £1.2k in the next 6-12 months. Total = £4.2k.
-New car purchase £10k.
£10k-£4.2k = £5.8k.
Estimated value after five years is £3k. Therefore the real cost is £2.8k? Or am I talking myself into it?
No because you already have the skoda. You're also assuming you won't need to spent a penny on the new car, what about servicing, tyres etc? -Skoda is worth £3k. Will cost £1.2k in the next 6-12 months. Total = £4.2k.
-New car purchase £10k.
£10k-£4.2k = £5.8k.
Estimated value after five years is £3k. Therefore the real cost is £2.8k? Or am I talking myself into it?
Yours will cost you say 3k in 3 years, fair assumption? The newer car will depreciate that alone, let alone the extra purchase cost. As a pure money saving thing, the current car will be cheaper.
AlpineWhite said:
Well, the man maths at the moment goes a little bit like this:
-Skoda is worth £3k. Will cost £1.2k in the next 6-12 months. Total = £4.2k.
-New car purchase £10k.
£10k-£4.2k = £5.8k.
Estimated value after five years is £3k. Therefore the real cost is £2.8k? Or am I talking myself into it?
Value of Skoda in five years =? (will be a few hundred still if it's maintained well)-Skoda is worth £3k. Will cost £1.2k in the next 6-12 months. Total = £4.2k.
-New car purchase £10k.
£10k-£4.2k = £5.8k.
Estimated value after five years is £3k. Therefore the real cost is £2.8k? Or am I talking myself into it?
Insurance difference = £?
Fuel difference = £?
Real cost = £?
I did similar (156 2.4 JTD, boought c.35k miles, sold c.130k miles, paid £11,000, got £1,100 back, part-ex) I can see the attraction, but you can't justify it on economic grounds ....
OP, I'm in a similar situation currently with my OH's SLK. Its now 13 years old, done 123,000 miles and after five years trouble-free service and on the spot maintenance, it's wigged out big time and been sat at a specialist for a week and a half after dying on my wife whilst driving along. Bill likely to be around £1200 unless they find anything further.
It's only worth about £2500 when repaired and will ideally need £500 on paint (all four wheels refurb, minor rust repair and good mopping) and then probably £500 to get it through the MOT/service in November, so we're looking at spending almost the complete value of the car in the next five or so months.
Our situation is that at the moment it's worth almost nothing in its current state so need to repair or break it for parts. I don't have the nouce or space to break it and my OH loves it and won't see it broken, so breaking it isn't an option.
We spent time looking through the classifieds and the only things we'd like instead are either a newer shape SLK (£10k plus) or an Abarth 500 (£9k plus).
Think we'll repair it, spend the extra on getting it looking nice/through the MOT, run it through for another year and then revisit when we'd stand a better chance of getting a good price for the car. I can't imagine it will depreciate much more.
Not sure that helps much, but I can sympathise.
It's only worth about £2500 when repaired and will ideally need £500 on paint (all four wheels refurb, minor rust repair and good mopping) and then probably £500 to get it through the MOT/service in November, so we're looking at spending almost the complete value of the car in the next five or so months.
Our situation is that at the moment it's worth almost nothing in its current state so need to repair or break it for parts. I don't have the nouce or space to break it and my OH loves it and won't see it broken, so breaking it isn't an option.
We spent time looking through the classifieds and the only things we'd like instead are either a newer shape SLK (£10k plus) or an Abarth 500 (£9k plus).
Think we'll repair it, spend the extra on getting it looking nice/through the MOT, run it through for another year and then revisit when we'd stand a better chance of getting a good price for the car. I can't imagine it will depreciate much more.
Not sure that helps much, but I can sympathise.
AlpineWhite said:
Hi all,
Basically, do I change my car? Is it worthwhile? Read on...
I do about 22k a year, and for the last 2 1/2 years this task has been performed by a Fabia vRS. It's just ticked over 130k, and in the last few weeks has had a new turbo, new alternator and a boost pipe. It's worth about £3000 in a private sale. In the next year or so, it'll need a new clutch, flywheel and a cambelt. This will cost ~£1200.
I'm naturally worried about future bills popping up out of nowhere. Do I call it quits now, and get something newer with less miles? That way, as I see it, I'd be spending on depreciation rather than repairs, but could be driving something nicer.
A friend has pointed out that I could perhaps pick up an ex-fleet car for say £10k, run it for 5 years and sell for ~£3k in five years time. This would cost me £7k for five years motoring.
Thoughts? I'm tempted by the likes of a 120D / 320D / C200. Could pick up one that's ~5 years old with <50k. Would they hold more potential for big bills as they head up towards 150k miles, compared to the Fabia? OVer the same period, I'd expect the Fabia to hit 230k.
Eep.
Sorry for the rambling post, I'm a bit lost regarding what's 'best' to do.
Sounds like you've already made your mind up to me! You want some new wheels and are trying every way possible to justify getting shut of the Skoda. Just admit it! Basically, do I change my car? Is it worthwhile? Read on...
I do about 22k a year, and for the last 2 1/2 years this task has been performed by a Fabia vRS. It's just ticked over 130k, and in the last few weeks has had a new turbo, new alternator and a boost pipe. It's worth about £3000 in a private sale. In the next year or so, it'll need a new clutch, flywheel and a cambelt. This will cost ~£1200.
I'm naturally worried about future bills popping up out of nowhere. Do I call it quits now, and get something newer with less miles? That way, as I see it, I'd be spending on depreciation rather than repairs, but could be driving something nicer.
A friend has pointed out that I could perhaps pick up an ex-fleet car for say £10k, run it for 5 years and sell for ~£3k in five years time. This would cost me £7k for five years motoring.
Thoughts? I'm tempted by the likes of a 120D / 320D / C200. Could pick up one that's ~5 years old with <50k. Would they hold more potential for big bills as they head up towards 150k miles, compared to the Fabia? OVer the same period, I'd expect the Fabia to hit 230k.
Eep.
Sorry for the rambling post, I'm a bit lost regarding what's 'best' to do.
I'm just wondering how you know it will definitely need a new clutch and flywheel in the next 12 months? Has it already got zero biting point on it and do you hold it on the clutch everywhere? If not and you drive it 'normally' then there's no reason why they won't last for years yet. In fact in 20 years of driving and more cars and vans than I care to remember, I've never had to replace a clutch on any of them.
Bottom line is have you fallen out of love with the car? If you have then quit trying to justify one or the other and just get shut of it and get whatever you have your eye on. If you still love the car and are happy with it then get whatever is broke fixed and put some dollars away for when the other bits die. As others have mentioned, you've already done the turbo so that should now last the life of the car. The rest of the stuff you mention is/are just consumables.
I can tell you from personal experience that buying new or nearly new does not suddenly cure all your problems. You still get stuff going wrong with new cars due to the factory wallahs being incapable of screwing them together properly, and you still have the inconvenience of them being off the road in the garage while the spanner monkeys try to fix them. The only difference is that you don't have to pay for it.
If you'd like a different car and you have the means, then get one.
I'm in a similar situation where my Fabia VRS (2004, 148k, new turbo recently, £500 aircon bill)is spot on for my needs, but I need to keep hold of my cash for the time being and I'll risk another big bill to save taking a big chunk out of savings.
I'm in a similar situation where my Fabia VRS (2004, 148k, new turbo recently, £500 aircon bill)is spot on for my needs, but I need to keep hold of my cash for the time being and I'll risk another big bill to save taking a big chunk out of savings.
AlpineWhite said:
Thoughts? I'm tempted by the likes of a 120D / 320D / C200. Could pick up one that's ~5 years old with <50k. Would they hold more potential for big bills as they head up towards 150k miles, compared to the Fabia? OVer the same period, I'd expect the Fabia to hit 230k.
Assuming you're not going to shell out the big bucks for a main dealer car and instead try to get something that's good value, my experience is that you spend the first year of ownership of a car that's covered around 50k fixing the things that the previous owner got rid of the car to avoid fixing.Very few garages actually fix anything on a car before they punt it on to you, so consider that.
I'd only replace your Fabia if you fancy a new car. AND, very important, this: don't waste your money on something bought purely as a functionary. Why spend vast sums of money on an appliance when you can have something you enjoy. I believe this should apply to all private buyers, irrespective of their car interests by the way - always spend your money on things you like.
Thanks all. Agreed that it if I did change, it would need to be something that brings some joy. Buying a normal, bland eurobox, and furthermore, spending a lot of money on one, would crush me a little every time I get in it.
I think the summary, therefore, is that it's not a bad time to change, but I should open my eyes fully to the extra cost.
I think the summary, therefore, is that it's not a bad time to change, but I should open my eyes fully to the extra cost.
Something low mileage, lw depreciation and sensible is what you want:
http://www.ebay.co.uk/itm/Corvette-C4-1992-White-L...
http://www.ebay.co.uk/itm/Corvette-C4-1992-White-L...
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