To shed or not to shed
Discussion
I love cars, I really do. But I seem to have s
t luck and have found myself wasting far too much of my income on something to drive around in.
Currently I've got a F10 5 series diesel. I owe 7.5k on the car, it's worth a realistic 9.5k probably closer to 9k quick sale. I paid 11.5k for it in July this year (which was a good price retail).
The car just had a BMW inspection and it showed that there is slight movement in front lower suspension arm ball joints.
So the car currently needs two front lower suspension arms, possibly track rod ends if they can't be freed ( they look like they not been touched in years), it's also been mentioned the bolts on what I assume is the rear suspension arms (which apparently need to be undone to adjust the 4 wheel alignment), are heavily corroded and have been known to snap.
For the front suspension arms and alignment alone in looking at 500 quid, could get a hell of a lot more expensive.
So I'm trying to decide what to do, maybe you guys can help me with my logic. Options are as follows...
1. Get a fresh MOT done, and keep driving the car as it is until summer, overpay loan as much as possible reducing what I owe, then maybe look at selling it.
2. Sell it now for 9.5k, pay off loan and buy a shed, I need advise on viable sheds for a family car. Been looking at a 04 focus c max.
3. Get the work done on the car, possibly costing a grand, plus the 2 new rear tyres it needs in next 6 to 12 months.
I know you guys probably hate threads like this, but I need to hear other perspectives.
t luck and have found myself wasting far too much of my income on something to drive around in.Currently I've got a F10 5 series diesel. I owe 7.5k on the car, it's worth a realistic 9.5k probably closer to 9k quick sale. I paid 11.5k for it in July this year (which was a good price retail).
The car just had a BMW inspection and it showed that there is slight movement in front lower suspension arm ball joints.
So the car currently needs two front lower suspension arms, possibly track rod ends if they can't be freed ( they look like they not been touched in years), it's also been mentioned the bolts on what I assume is the rear suspension arms (which apparently need to be undone to adjust the 4 wheel alignment), are heavily corroded and have been known to snap.
For the front suspension arms and alignment alone in looking at 500 quid, could get a hell of a lot more expensive.
So I'm trying to decide what to do, maybe you guys can help me with my logic. Options are as follows...
1. Get a fresh MOT done, and keep driving the car as it is until summer, overpay loan as much as possible reducing what I owe, then maybe look at selling it.
2. Sell it now for 9.5k, pay off loan and buy a shed, I need advise on viable sheds for a family car. Been looking at a 04 focus c max.
3. Get the work done on the car, possibly costing a grand, plus the 2 new rear tyres it needs in next 6 to 12 months.
I know you guys probably hate threads like this, but I need to hear other perspectives.
Other possibility - sell it and get a cheap lease car?
I've just done this for my daily. I could have had an old barge for say £1-2k max, but by the time you factor in MOT (and inevitable failures/fixes), servicing, tyres and anything else it might need, plus repairs, you could end up nearly at the cost of the lease.
I ran a 2010 XJ for a year, massively depreciated from list although nowhere near shed money, it cost an absolute fortune in repairs, servicing, tyres, MOT and it was just never 'right' as there was always something that needed doing. That almost put me off older second hand cars for life!
I've just leased a Skoda Octavia VRs for under £7k for 2 years/18k miles, and I might even get away without servicing it as it's on a 2 year interval! You can get decent family cars £5-6k for 2 years on the right deal and it's totally fixed cost motoring. A good lease will probably be less than the finance payments on the 5 series too? If I didn't put a few options on my Octavia it would have been around £2.4k down then £170 a month.
I've just done this for my daily. I could have had an old barge for say £1-2k max, but by the time you factor in MOT (and inevitable failures/fixes), servicing, tyres and anything else it might need, plus repairs, you could end up nearly at the cost of the lease.
I ran a 2010 XJ for a year, massively depreciated from list although nowhere near shed money, it cost an absolute fortune in repairs, servicing, tyres, MOT and it was just never 'right' as there was always something that needed doing. That almost put me off older second hand cars for life!
I've just leased a Skoda Octavia VRs for under £7k for 2 years/18k miles, and I might even get away without servicing it as it's on a 2 year interval! You can get decent family cars £5-6k for 2 years on the right deal and it's totally fixed cost motoring. A good lease will probably be less than the finance payments on the 5 series too? If I didn't put a few options on my Octavia it would have been around £2.4k down then £170 a month.
Did BMW mention the worn brakes, and the requirement for new back tyres, and a full service. Will probably take you to well over £2k by the time you've finished.
Or you could take it to an indy, who will change what's needed for £500,and you can run it around for another year with minimal costs.
Guess what I would do?
Or you could take it to an indy, who will change what's needed for £500,and you can run it around for another year with minimal costs.
Guess what I would do?
Benjijames28 said:
I know you guys probably hate threads like this, but I need to hear other perspectives.
Get handy with the spanners. Labour charges are what really push up motoring costs in many cases.
Couple of hours on the tools mean your can reduce a cambelt change from £300 to £50 (illustrative example)
True shedding with some DIY/self help means you can run a car at very low cost these days. There are a multitude of parts suppliers and there has never been more information out there on forums /YouTube etc.
Viable sheds? Hmmm well something Japanese /Korean is a start. Early focus is also a good shout. The more popular the car you go for the better... Means more knowledge out there and wider availability of new/used parts.
Edited by DuraAce on Sunday 17th December 14:45
DuraAce said:
Get handy with the spanners.
Labour charges are what really push up motoring costs in many cases.
Couple of hours on the tools mean your can reduce a cambelt change from £300 to £50 (illustrative example)
True shedding with some DIY/self help means you can run a car at very low cost these days. There are a multitude of parts suppliers and there has never been more information out there on forums /YouTube etc.
Viable sheds? Hmmm well something Japanese /Korean is a start. Early focus is also a good shout. The more popular the car you go for the better... Means more knowledge out there and wider availability of new/used parts.
With the minor repairs the beamer needs the main cost is the parts. BMW front lower suspension arms are 200 plus Vat, each. Best quality non BMW parts you can get are 145 each all in. Labour cost is not too bad. The worry is it will need the track rods, then the rear bolts snap, meaning... I dunno, can they just replace the bolts? Sometimes yes, sometimes no, depends where it snaps apparently?Labour charges are what really push up motoring costs in many cases.
Couple of hours on the tools mean your can reduce a cambelt change from £300 to £50 (illustrative example)
True shedding with some DIY/self help means you can run a car at very low cost these days. There are a multitude of parts suppliers and there has never been more information out there on forums /YouTube etc.
Viable sheds? Hmmm well something Japanese /Korean is a start. Early focus is also a good shout. The more popular the car you go for the better... Means more knowledge out there and wider availability of new/used parts.
Edited by DuraAce on Sunday 17th December 14:45
bearman68 said:
Did BMW mention the worn brakes, and the requirement for new back tyres, and a full service. Will probably take you to well over £2k by the time you've finished.
Or you could take it to an indy, who will change what's needed for £500,and you can run it around for another year with minimal costs.
Guess what I would do?
Just had a full major service (at BMW), I've got a BMW warranty with the car (this costs me a fortune, and only covers the drive line, timing chain horror stories inspired this warranty purchase).Or you could take it to an indy, who will change what's needed for £500,and you can run it around for another year with minimal costs.
Guess what I would do?
I considered leasing a year or so ago. It seems pretty expensive.
For example I've got a 5 year loan of 8k on the beamer. 140 per month. At end of that 5 year period my 11.5k car should fetch at least 5k, maybe 6, considering I do low mileage. This takes cost down. But if course I've for repair bills. Like these suspension arms etc... All out of my pocket.
For example I've got a 5 year loan of 8k on the beamer. 140 per month. At end of that 5 year period my 11.5k car should fetch at least 5k, maybe 6, considering I do low mileage. This takes cost down. But if course I've for repair bills. Like these suspension arms etc... All out of my pocket.
Benjijames28 said:
bearman68 said:
Did BMW mention the worn brakes, and the requirement for new back tyres, and a full service. Will probably take you to well over £2k by the time you've finished.
Or you could take it to an indy, who will change what's needed for £500,and you can run it around for another year with minimal costs.
Guess what I would do?
Just had a full major service (at BMW), I've got a BMW warranty with the car (this costs me a fortune, and only covers the drive line, timing chain horror stories inspired this warranty purchase).Or you could take it to an indy, who will change what's needed for £500,and you can run it around for another year with minimal costs.
Guess what I would do?
Get the work done, get shot of the car, and go shedding.
If you're lucky, you'll save a load of money. If you're not lucky, you'll probably still save some money (relative to what you're doing now).
The number one benefit of shedding, above all others, is that you don't need to worry about depreciation.
Buy a car for £1,500, run it until you feel like a change, and flog it for around the same as you paid for it (if you've kept up maintenance, clean it regularly, etc.)
In terms of running costs, unless you're piloting something exotic, budget around £500 per year for servicing, repairs, MoT, etc. All in, you're looking at £2,000 outlay.
If you want to try your hand at advanced shedding, buy a car that cosmetically needs a bit of love, and slowly but surely bring it back to its former glory. Not only will this be a fairly satisfying endeavour, the car may well be worth more than you paid for it at sale time. My personal favourite is buying cars with dull/faded/scratched paintwork. Enough elbow grease with an electric polisher generally brings excellent results.
That's the "lucky" scenario. If you're unlucky, your shed will catastrophically fail its next MoT, meaning you've had 9-12(ish) months of motoring for around £1,500.
You can do the maths versus the financial situation with your current car, to see if it stacks up.
Shedding's awesome. It really is.
If you're lucky, you'll save a load of money. If you're not lucky, you'll probably still save some money (relative to what you're doing now).
The number one benefit of shedding, above all others, is that you don't need to worry about depreciation.
Buy a car for £1,500, run it until you feel like a change, and flog it for around the same as you paid for it (if you've kept up maintenance, clean it regularly, etc.)
In terms of running costs, unless you're piloting something exotic, budget around £500 per year for servicing, repairs, MoT, etc. All in, you're looking at £2,000 outlay.
If you want to try your hand at advanced shedding, buy a car that cosmetically needs a bit of love, and slowly but surely bring it back to its former glory. Not only will this be a fairly satisfying endeavour, the car may well be worth more than you paid for it at sale time. My personal favourite is buying cars with dull/faded/scratched paintwork. Enough elbow grease with an electric polisher generally brings excellent results.
That's the "lucky" scenario. If you're unlucky, your shed will catastrophically fail its next MoT, meaning you've had 9-12(ish) months of motoring for around £1,500.
You can do the maths versus the financial situation with your current car, to see if it stacks up.
Shedding's awesome. It really is.
I have only ever owned 'sheds' (most i have ever spent is 2k). Had plenty of nice cars and been lucky enough to only have 2 major faults over 30+ cars.
I would say 'shedding' is the way forward, although i am now looking to upgrade into something more suitable to do c.15k business miles in a year and looking at cheap leases or a proper 2 car set up with the OH.
My top tips for shedding is avoid European cars, German motors are fine if they have been looked after if not they will break and it will be costly (the 2 major faults i mention have both been from German cars). Japanese cars tend to take abuse and neglect far better.
I would say 'shedding' is the way forward, although i am now looking to upgrade into something more suitable to do c.15k business miles in a year and looking at cheap leases or a proper 2 car set up with the OH.
My top tips for shedding is avoid European cars, German motors are fine if they have been looked after if not they will break and it will be costly (the 2 major faults i mention have both been from German cars). Japanese cars tend to take abuse and neglect far better.
Benjijames28 said:
There's a nice bug eye WRX wagon near me for 2.5k, 79k on clock. 5 owners with a reassuring MOT history lol.
Might be worth a look.
Not really shedding, but those cars don't really get much cheaper.
That's a great deal if its a half decent car. Maybe change the front lights!Might be worth a look.
Not really shedding, but those cars don't really get much cheaper.
Sorry if you've mentioned it but what sort of mileage are you doing ? That would be my deciding factor. If you're doing a fair few miles a year it might pay to suck up the odd bill and stick with the BMW. They are a nice enough place to be plus the warranty you have should cover a lot of the worrying stuff.
I've always got a shed to hand but not sure I would want one to be my only car for serious mileages.
Fair shout on the C-Max. The petrol ones in particular are pretty bullet-proof and very little bother. I've had loads of them and the same as the regular Focus its hard to think of anything too much that goes wrong. Front suspension arms are something like £30 a go from motor factors and simple to fit.
I've always got a shed to hand but not sure I would want one to be my only car for serious mileages.
Fair shout on the C-Max. The petrol ones in particular are pretty bullet-proof and very little bother. I've had loads of them and the same as the regular Focus its hard to think of anything too much that goes wrong. Front suspension arms are something like £30 a go from motor factors and simple to fit.
I can't stand losing money to depreciation so I have always sheded.
So my daily is a 03 accord tourer, heated seats cruise and dual zone air con, got the Bluetooth working with a £50 and I don't really feel like I need anything else.
Cost £680, needed tracking £20, serviced it for £50, just got quoted £360 to get it through the mot (to polish the headlights, rebuild the rear calipers, fit a new backbox and lambda sensor) I paid £3 for some exhaust paste, sanded the headlights and tightened the handbrake cable, passed.
Car does about 37mpg average and costs £250 a year to tax (gah), but it's unbelievably comfortable and practical, and family don't think I'm poor because I have it.
So what I guess I'm saying is yes, it's much cheaper to shed, If you repair things yourself. If you can't, then lease.
So my daily is a 03 accord tourer, heated seats cruise and dual zone air con, got the Bluetooth working with a £50 and I don't really feel like I need anything else.
Cost £680, needed tracking £20, serviced it for £50, just got quoted £360 to get it through the mot (to polish the headlights, rebuild the rear calipers, fit a new backbox and lambda sensor) I paid £3 for some exhaust paste, sanded the headlights and tightened the handbrake cable, passed.
Car does about 37mpg average and costs £250 a year to tax (gah), but it's unbelievably comfortable and practical, and family don't think I'm poor because I have it.
So what I guess I'm saying is yes, it's much cheaper to shed, If you repair things yourself. If you can't, then lease.
2gins said:
Why do you need a pair of suspension arms if the bottom bjs are shot, just switch out the bjs surely? Or are BMW BJ's part of the lower arm assembly? Bit daft if so, makes repair very lucrative
There's 2 sets of lower suspension arms. The ones that need replacing on mine are the rear ones. The movement is very slight. Probably don't need reply asap. Defo not dangerous
Benjijames28 said:
There's 2 sets of lower suspension arms. The ones that need replacing on mine are the rear ones.
The movement is very slight. Probably don't need reply asap. Defo not dangerous
As you say, and for what its worth I'm a shed man at the moment. Helps that I can do a bit of the easy stuff myself.The movement is very slight. Probably don't need reply asap. Defo not dangerous
2.5 years into a £1200 Saab, so far its needed a brake caliper (£150, DIY) and a new exhaust front pipe (£150, garage) plus the consumable stuff (1 service, 2 MOTs, pair of tyres, rear discs and pads)
Its also worth considering, if a car throws you a £1k bill yes that can be a hard pill to swallow but its a choice of spending £1k to maintain a car you know with known problems, that will give you good service for X years (only you know X) vs £1k on something new and completely unknown. If you like the BMW, fix it and keep it
I think half the problem is that you are using a main dealer; they have a tendency find all sorts of things to fix.
I suggest ditching the warranty as its so expensive and limited. Drive it until the mot, then get it tested, not at BMW. I would bet it will go through and then use an independent garage for any repairs you need in the future.
I suggest ditching the warranty as its so expensive and limited. Drive it until the mot, then get it tested, not at BMW. I would bet it will go through and then use an independent garage for any repairs you need in the future.
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