How many miles are too many?
Discussion
Just been chatting to my brother who's looking at replacing his car.
He's looking at a 3 year old 520D that's done 30k. He does 30k a year, so he's paying a premium to destroy the additional value within a year or two.
I reckon he's mad.
My method is to buy a 'quality' ten year old car that's done circa 100k, and keep it until it either falls apart, or more likely I get bored with it. I also do 30k (or more). I got bored with either stupid high lease prices or huge depreciation.
What's your take on this?
Really curious to see how others deal with this connumdrum
He's looking at a 3 year old 520D that's done 30k. He does 30k a year, so he's paying a premium to destroy the additional value within a year or two.
I reckon he's mad.
My method is to buy a 'quality' ten year old car that's done circa 100k, and keep it until it either falls apart, or more likely I get bored with it. I also do 30k (or more). I got bored with either stupid high lease prices or huge depreciation.
What's your take on this?
Really curious to see how others deal with this connumdrum
g3org3y said:
How long is he planning to keep it for?
Is he bothered about resale value?
He'll tell me that he's keeping it until it's paid for. In reality if he makes it 18 months that is a record.Is he bothered about resale value?
big_boz said:
Missed a glaringly obvious statement yesterday...
I do have a soft spot for a leggy German!
I do have a soft spot for a leggy German!
My way you can get a perfectly safe car with front and side bags, crumple zones etc. As I understand it the more recent progress in Safety has been in terms of protecting pedestrians.
If he's not bothered about resale value he should be!
HustleRussell said:
000,005 miles can be too much if they have been completed with no oil in the sump or coolant in the radiator. It all comes back to condition and servicing.
Exactly.Of the five cars I've owned, this one is the highest mileage (140k now) and in by far the best condition, mechanically and cosmetically.
Your friend is absolutely bloody nuts, but there's no educating some people
Ari said:
Your way is cheaper.
His way costs more but gets him a newer, safer, more modern, more refined, more economical, more reliable car. All important given the annual mileage.
And he can keep it much longer.
I've seen this trotted about a lot recently - So why would a 5 series released in 2002, a £30k+ car in it's day, be seen as 'unsafe' today? His way costs more but gets him a newer, safer, more modern, more refined, more economical, more reliable car. All important given the annual mileage.
And he can keep it much longer.
I'd also query if newer cars were more reliable than older ones.
surveyor said:
Just been chatting to my brother who's looking at replacing his car.
He's looking at a 3 year old 520D that's done 30k. He does 30k a year, so he's paying a premium to destroy the additional value within a year or two.
I reckon he's mad.
My method is to buy a 'quality' ten year old car that's done circa 100k, and keep it until it either falls apart, or more likely I get bored with it. I also do 30k (or more). I got bored with either stupid high lease prices or huge depreciation.
What's your take on this?
Really curious to see how others deal with this connumdrum
I started off with your brother, now I'm with youHe's looking at a 3 year old 520D that's done 30k. He does 30k a year, so he's paying a premium to destroy the additional value within a year or two.
I reckon he's mad.
My method is to buy a 'quality' ten year old car that's done circa 100k, and keep it until it either falls apart, or more likely I get bored with it. I also do 30k (or more). I got bored with either stupid high lease prices or huge depreciation.
What's your take on this?
Really curious to see how others deal with this connumdrum
surveyor said:
Just been chatting to my brother who's looking at replacing his car.
He's looking at a 3 year old 520D that's done 30k. He does 30k a year, so he's paying a premium to destroy the additional value within a year or two.
I reckon he's mad.
My method is to buy a 'quality' ten year old car that's done circa 100k, and keep it until it either falls apart, or more likely I get bored with it. I also do 30k (or more). I got bored with either stupid high lease prices or huge depreciation.
What's your take on this?
Really curious to see how others deal with this connumdrum
Yup, I'm with you too. Doing high miles will basically destroy the value of any low mileage car. I also do 30k miles PA, so I got a 100k mile 730D. If I keep that for 4 years then I'll have added another 120k miles, so 220k. I paid £10k, it will then be worth like £2k or something.He's looking at a 3 year old 520D that's done 30k. He does 30k a year, so he's paying a premium to destroy the additional value within a year or two.
I reckon he's mad.
My method is to buy a 'quality' ten year old car that's done circa 100k, and keep it until it either falls apart, or more likely I get bored with it. I also do 30k (or more). I got bored with either stupid high lease prices or huge depreciation.
What's your take on this?
Really curious to see how others deal with this connumdrum
If I'd got a newer model with only say 20k miles on then it would have cost more like £20k-£30k, but after I added my 120k miles it would only be worth about £6k-£8k. So I'd destroy a larger £'s of value.
This is simply because cars depreciate quicker in the first part of their life than later in their life. So additional miles on a low mileage car hurt the value more than the same miles on an already old car. It's the best way in my personal opinion, of keeping the costs down if you have to do mega miles, but still having a nice car.
Another poster has pointed out that getting the newer car will be a 'nicer' car. Yup, no doubt. But it's a value for money thing, and people value stuff differently so not everyone will make the same choice. To the OP's mate me may value the 'newness' of the car more than me and the OP do. So getting the newer one is the right thing for him to do, just not for me or the OP.
Riknos said:
Ari said:
Your way is cheaper.
His way costs more but gets him a newer, safer, more modern, more refined, more economical, more reliable car. All important given the annual mileage.
And he can keep it much longer.
I've seen this trotted about a lot recently - So why would a 5 series released in 2002, a £30k+ car in it's day, be seen as 'unsafe' today? His way costs more but gets him a newer, safer, more modern, more refined, more economical, more reliable car. All important given the annual mileage.
And he can keep it much longer.
I'd also query if newer cars were more reliable than older ones.
Riknos said:
I've seen this trotted about a lot recently - So why would a 5 series released in 2002, a £30k+ car in it's day, be seen as 'unsafe' today?
I'd also query if newer cars were more reliable than older ones.
He didn't say "unsafe" he said "safer" which is right given that (a) crash safety improves with each new model and (b) steel loses its strength over time due to the effects of corrosion, such that a 10 year-old design produced last year, would fare better in a crash than the same design manufactured 10 year ago.I'd also query if newer cars were more reliable than older ones.
Bluebarge said:
Riknos said:
I've seen this trotted about a lot recently - So why would a 5 series released in 2002, a £30k+ car in it's day, be seen as 'unsafe' today?
I'd also query if newer cars were more reliable than older ones.
He didn't say "unsafe" he said "safer" which is right given that (a) crash safety improves with each new model and (b) steel loses its strength over time due to the effects of corrosion, such that a 10 year-old design produced last year, would fare better in a crash than the same design manufactured 10 year ago.I'd also query if newer cars were more reliable than older ones.
its 2012- a 10 year old car is not a MK4 Cortina these days!If your brother is doing 30k, he needs a reliable motor. Yes, your 100k shed might be reliable if it has been looked after. However a 30k, 3 year old car is likely as not to be pretty much as good as new, particularly if it has come from a BMW main dealer. So your brother buys a car that is pretty much as good as new for probably 60% of its cost new.
I really don't buy this 100k car is going to be perfect argument. I have been running my car for 10 years and it is now into 6 figures. It has been a good car for sure and is still reliable, but be under no illusion that it needs far more maintenance now than it did when I first bought it. It's old, things are starting to fall apart.
If he's doing a lot of miles, how is he going to get where he is going when the car is off the road? All things being equal, the younger car will spend less time off the road than the older car.
I really don't buy this 100k car is going to be perfect argument. I have been running my car for 10 years and it is now into 6 figures. It has been a good car for sure and is still reliable, but be under no illusion that it needs far more maintenance now than it did when I first bought it. It's old, things are starting to fall apart.
If he's doing a lot of miles, how is he going to get where he is going when the car is off the road? All things being equal, the younger car will spend less time off the road than the older car.
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