Discussion
So as you can see to the left I have been a member on here for a long while now, always into cars from a young age and have owned about 45+ now in around 19 years of driving. You will see my postings on here over recent weeks have suggested I am considering buying all sorts of different cars from 2 seater sports cars to V8 saloons, hyper hatches and everything in between.
My last two cars have stung me, my recently sold Mercedes C250 cost me £4K in depreciation alone in less than a year let alone other costs along the way and post sale. Prior to that I owned an E70 X5 which cost me circa £3k in depreciation in six months.
The changing of cars is the only thing that causes ‘unrest’ in our house, difference of opinions between Mrs Sit and myself often leading to some animated exchanges!
I went to Haynes on Sun and thoroughly enjoyed myself, got a lift in a friends 4C and the whole experience was wonderful from the journey over to the wandering round in the sun looking at everyone’s pride and joy - I did however feel left out. Over the years I have taken great pleasure in modding, detailing and documenting different cars I have owned but it seems to have dwindled away.
My daughter is growing up and family distractions coupled with a pretty unsociable shift pattern doesn’t seem to see me with much time. My circle of friends are all ‘car buddies’ who have obviously made better decisions along the way than me, as they are running a selection of various sports cars.
To put it simply, 46 cars in and I have nothing to show for it, no car and no money out the other end.
I am wondering what the answer is and considering whether I need to perhaps lease something for 2 years to just have a bit of time out and predictable motoring costs; after all that’s practically what I have done for the last 19 years - sell the car, settle the loan and start again.
Wondered if anyone else has found themselves in a similar position and whether anyone has any thoughts on whether say a 24 month lease on an Abarth 595 will likely entertain the car portion of me whilst achieving the predictable motoring expenditure I think I want?
Friends are saying ‘no 2 years of your life, you only live once don’t do it!’ whilst Mrs Sit seems to applaud the sensible thoughts I am sharing?
Grateful of any thoughts even if critical of my PH journey!!
Si
My last two cars have stung me, my recently sold Mercedes C250 cost me £4K in depreciation alone in less than a year let alone other costs along the way and post sale. Prior to that I owned an E70 X5 which cost me circa £3k in depreciation in six months.
The changing of cars is the only thing that causes ‘unrest’ in our house, difference of opinions between Mrs Sit and myself often leading to some animated exchanges!
I went to Haynes on Sun and thoroughly enjoyed myself, got a lift in a friends 4C and the whole experience was wonderful from the journey over to the wandering round in the sun looking at everyone’s pride and joy - I did however feel left out. Over the years I have taken great pleasure in modding, detailing and documenting different cars I have owned but it seems to have dwindled away.
My daughter is growing up and family distractions coupled with a pretty unsociable shift pattern doesn’t seem to see me with much time. My circle of friends are all ‘car buddies’ who have obviously made better decisions along the way than me, as they are running a selection of various sports cars.
To put it simply, 46 cars in and I have nothing to show for it, no car and no money out the other end.
I am wondering what the answer is and considering whether I need to perhaps lease something for 2 years to just have a bit of time out and predictable motoring costs; after all that’s practically what I have done for the last 19 years - sell the car, settle the loan and start again.
Wondered if anyone else has found themselves in a similar position and whether anyone has any thoughts on whether say a 24 month lease on an Abarth 595 will likely entertain the car portion of me whilst achieving the predictable motoring expenditure I think I want?
Friends are saying ‘no 2 years of your life, you only live once don’t do it!’ whilst Mrs Sit seems to applaud the sensible thoughts I am sharing?
Grateful of any thoughts even if critical of my PH journey!!
Si
Heartworm said:
If you get restless for a change so often you could quickly end up with a car you loathe for an extended period that would be expensive to get out of.
This is Mrs Sit’s only reservation about my sensible idea, also voiced by a couple of friends too; once your in your in.SiT said:
Heartworm said:
If you get restless for a change so often you could quickly end up with a car you loathe for an extended period that would be expensive to get out of.
This is Mrs Sit’s only reservation about my sensible idea, also voiced by a couple of friends too; once your in your in.
The problem with PCP etc is unless you want to lose money, you’re stuck with it for a longer than maybe you’re used to.
hondafanatic said:
Even though I agree with you and you make a fine point, I can feel the grammar vultures circle overhead.
The problem with PCP etc is unless you want to lose money, you’re stuck with it for a longer than maybe you’re used to.
I am not looking at PCP, I don’t want to ‘purchase’ the car I want to ‘hire’ the car so lease/PCH is more along the lines of what I was considering.The problem with PCP etc is unless you want to lose money, you’re stuck with it for a longer than maybe you’re used to.
Si
hondafanatic said:
My ignorance is showing at this point, but why is lease going to offer you more flexibility. Genuine question
I don’t think it will offer me more flexibility but I have no desire to own the car so just figured starting with a product that was designed with that purpose in mind might be better - genuinely don’t know if this is right or not?Si
stevemcs said:
For the price of depreciation on the merc, go on Autotrader, tick the boxes that appeal (0-60 less than 8 seconds) 5 litres etc, set the budget to £3500 and see what comes up. You will have more fun and you won't lose 3k in 6 months
Might have a go at this out of interest!Si
I have gone down a completely different route. Admittedly, I do not have such a habit of changing cars as you do.
As I have got older I have got steadily older vehicles. I haven't owned a vehicle from this decade yet! Driven plenty of hire cars and been in mates cars and just do not feel the love.
I do however have a selection of different vehicles at my disposal on a daily basis. All are well maintained, so reliability is not an issue - plus if one does have a tantrum I have another to hand. If the weather is going to be nice I take out the convertible (Smart Roadster), going on a longer journey or raining (330i Coupe), fancy a day trip with the family or camping trip (VW T25 camper) or tip run with garden waste or wife's runabout (Nissan Note).
None are expensive, all fully owned and probably all at the bottom of their depreciation curves - hence I don't mind spending to keep them in good condition/ running order.
I think the daily variety I have stops me looking elsewhere. A bit like having a hareem of cars
Mike
As I have got older I have got steadily older vehicles. I haven't owned a vehicle from this decade yet! Driven plenty of hire cars and been in mates cars and just do not feel the love.
I do however have a selection of different vehicles at my disposal on a daily basis. All are well maintained, so reliability is not an issue - plus if one does have a tantrum I have another to hand. If the weather is going to be nice I take out the convertible (Smart Roadster), going on a longer journey or raining (330i Coupe), fancy a day trip with the family or camping trip (VW T25 camper) or tip run with garden waste or wife's runabout (Nissan Note).
None are expensive, all fully owned and probably all at the bottom of their depreciation curves - hence I don't mind spending to keep them in good condition/ running order.
I think the daily variety I have stops me looking elsewhere. A bit like having a hareem of cars
Mike
To be fair I'm 22 cars in at 30 years old, and I have about £1,000 of shed equity in the car...Thankfully, I do have equity elsewhere i.e. my home!
I have never really lost on depreciation any more than £100ish per month. This far outweighs any cost of lease, buying new, etc. When i took out loans for the cars, i always took a couple of k extra and used that for credit cards, wedding etc. So even though I considered it my car payment i actually paid off other things in the same amount.
Makes me sound like I'm bad with money, which I'm not. The most I've ever paid in interest on a loan is 2.8% and settled it when I sold the car.
In my opinion, 5-7k is a real sweetspot for minimal depreciation risk. Start going higher and risks are bigger. Go any less and you start paying for repairs instead (at least, more likely?).
Get the calculator out, look at cars you can afford and WANT. Then buy smart, get one that's at the lower end of the market but still meets your requirements. Check it out properly and when you sell it, spend the time on a proper advert with decent photographs.
I have never really lost on depreciation any more than £100ish per month. This far outweighs any cost of lease, buying new, etc. When i took out loans for the cars, i always took a couple of k extra and used that for credit cards, wedding etc. So even though I considered it my car payment i actually paid off other things in the same amount.
Makes me sound like I'm bad with money, which I'm not. The most I've ever paid in interest on a loan is 2.8% and settled it when I sold the car.
In my opinion, 5-7k is a real sweetspot for minimal depreciation risk. Start going higher and risks are bigger. Go any less and you start paying for repairs instead (at least, more likely?).
Get the calculator out, look at cars you can afford and WANT. Then buy smart, get one that's at the lower end of the market but still meets your requirements. Check it out properly and when you sell it, spend the time on a proper advert with decent photographs.
Sorry to hear this. Whenever you use a car as a daily driver you’ll always find a tonne of depreciation and a car that wears out more quickly.
I got fed up of this, and now run very cheap cars on a daily basis (or a van) and have a nice car or cars that I use as a treat.
Works well for me.
I wouldn’t lease in your position. You’ll be in for more of the same. I’d look to try and form a bond with something you’ve always wanted?
I got fed up of this, and now run very cheap cars on a daily basis (or a van) and have a nice car or cars that I use as a treat.
Works well for me.
I wouldn’t lease in your position. You’ll be in for more of the same. I’d look to try and form a bond with something you’ve always wanted?
SiT said:
So as you can see to the left I have been a member on here for a long while now, always into cars from a young age and have owned about 45+ now in around 19 years of driving. You will see my postings on here over recent weeks have suggested I am considering buying all sorts of different cars from 2 seater sports cars to V8 saloons, hyper hatches and everything in between.
My last two cars have stung me, my recently sold Mercedes C250 cost me £4K in depreciation alone in less than a year let alone other costs along the way and post sale. Prior to that I owned an E70 X5 which cost me circa £3k in depreciation in six months.
The changing of cars is the only thing that causes ‘unrest’ in our house, difference of opinions between Mrs Sit and myself often leading to some animated exchanges!
I went to Haynes on Sun and thoroughly enjoyed myself, got a lift in a friends 4C and the whole experience was wonderful from the journey over to the wandering round in the sun looking at everyone’s pride and joy - I did however feel left out. Over the years I have taken great pleasure in modding, detailing and documenting different cars I have owned but it seems to have dwindled away.
My daughter is growing up and family distractions coupled with a pretty unsociable shift pattern doesn’t seem to see me with much time. My circle of friends are all ‘car buddies’ who have obviously made better decisions along the way than me, as they are running a selection of various sports cars.
To put it simply, 46 cars in and I have nothing to show for it, no car and no money out the other end.
I am wondering what the answer is and considering whether I need to perhaps lease something for 2 years to just have a bit of time out and predictable motoring costs; after all that’s practically what I have done for the last 19 years - sell the car, settle the loan and start again.
Wondered if anyone else has found themselves in a similar position and whether anyone has any thoughts on whether say a 24 month lease on an Abarth 595 will likely entertain the car portion of me whilst achieving the predictable motoring expenditure I think I want?
Friends are saying ‘no 2 years of your life, you only live once don’t do it!’ whilst Mrs Sit seems to applaud the sensible thoughts I am sharing?
Grateful of any thoughts even if critical of my PH journey!!
Si
First things first if you buy a mainstream model from any manufacturer (2.0d/2.0T etc) you're going to suffer depreciation & the newer it is the worse it'll be, this is something most on here at PH acceptMy last two cars have stung me, my recently sold Mercedes C250 cost me £4K in depreciation alone in less than a year let alone other costs along the way and post sale. Prior to that I owned an E70 X5 which cost me circa £3k in depreciation in six months.
The changing of cars is the only thing that causes ‘unrest’ in our house, difference of opinions between Mrs Sit and myself often leading to some animated exchanges!
I went to Haynes on Sun and thoroughly enjoyed myself, got a lift in a friends 4C and the whole experience was wonderful from the journey over to the wandering round in the sun looking at everyone’s pride and joy - I did however feel left out. Over the years I have taken great pleasure in modding, detailing and documenting different cars I have owned but it seems to have dwindled away.
My daughter is growing up and family distractions coupled with a pretty unsociable shift pattern doesn’t seem to see me with much time. My circle of friends are all ‘car buddies’ who have obviously made better decisions along the way than me, as they are running a selection of various sports cars.
To put it simply, 46 cars in and I have nothing to show for it, no car and no money out the other end.
I am wondering what the answer is and considering whether I need to perhaps lease something for 2 years to just have a bit of time out and predictable motoring costs; after all that’s practically what I have done for the last 19 years - sell the car, settle the loan and start again.
Wondered if anyone else has found themselves in a similar position and whether anyone has any thoughts on whether say a 24 month lease on an Abarth 595 will likely entertain the car portion of me whilst achieving the predictable motoring expenditure I think I want?
Friends are saying ‘no 2 years of your life, you only live once don’t do it!’ whilst Mrs Sit seems to applaud the sensible thoughts I am sharing?
Grateful of any thoughts even if critical of my PH journey!!
Si
Now if you'd bought a C63 depending on your mileage & the condition of the car you buy the running costs are pretty sensible,
Or if you picked an IS-F you'd be very happy with the running costs & the depreciation is slight, if you bought a Cayenne Turbo the depreciation is less than if you bought a used GTS.
The halo models are the ones to look for as an example a 1M is holding it value well where as the M2 isn't but the M2/3/4 is dropping at a slower rate than an M240i.
So for 25k you could buy this M240i:
https://www.autotrader.co.uk/classified/advert/201...
440i
https://www.autotrader.co.uk/classified/advert/201...
Or you could land a nice M4
https://www.autotrader.co.uk/classified/advert/201...
Now your usage makes a big difference to what you buy but the rule still applies so buy the best spec'd/nicest engine combination you can find & your depreciation will be sensible, the longer you keep the car the depreciation becomes less of an issue, or lease something if you're considering a cooking model.
I tend to keep my cars for a fair while so depreciation has been less of an issue, if we'd sold the OH's Alpina D3 after six months then we'd have taken a hit now the prices have firmed up nicely & our depreciation is now considerably less than the loaded new 335d we also looked at, so when you decide to sell also makes a difference to the hit you take.
If you have to spend money on brakes tyres etc then that's just part of a cars running costs (you be surprised at the number of my clients that baulk at the cost of brakes) the percentage of people that don't check the brakes before buying is large, also do your checks on possible faults (all cars have them but it's good to be fore warned) on your particular car.
You can't always for see a depreciation hit my FIL took a 40+k hit on his Tesla as his trade in coincided with their price drop
I expect to lose money on my cars (although my CLK63 is worth more than I paid for it) as I add upgrades & make my cars my own but I tend to own my cars for 5+ years.
I hope this helps.
.
Back in June 2014 I bought a BMW Z4 Coupe.
8,000 miles later I sold it for a few hundred quid more than I paid.
I loved it so much that in December 2014 I bought an E46 325ti Compact as a daily for £1,995, which I kept for over 3 years and 23K miles and sold for £1,450 - so depreciation of £545 in just over 3 years!
So it can be done (unlike the 2007 123d I bought in 2008 and sold in 2014 that lost over £16K).
8,000 miles later I sold it for a few hundred quid more than I paid.
I loved it so much that in December 2014 I bought an E46 325ti Compact as a daily for £1,995, which I kept for over 3 years and 23K miles and sold for £1,450 - so depreciation of £545 in just over 3 years!
So it can be done (unlike the 2007 123d I bought in 2008 and sold in 2014 that lost over £16K).
SiT said:
stevemcs said:
For the price of depreciation on the merc, go on Autotrader, tick the boxes that appeal (0-60 less than 8 seconds) 5 litres etc, set the budget to £3500 and see what comes up. You will have more fun and you won't lose 3k in 6 months
Might have a go at this out of interest!Si
SWoll said:
Because of course £3.5k performance cars have never been known to throw up an expensive bill have they?
Your right, however you could also spend that on a 3 year old diesel, or lose it in depreciation. A £3500 performance car would still make £1000 as spares or repairs meaning its still cheaper than the depreciation on the Merc. You also end up with something far more interesting than a 2.0 diesel on a PCP .....I've been and probably still am in a somewhat similar situation to the OP.
Always been into modified cars, loved going to summer shows, events etc, had a car featured in a magazine at one point too.
I've had maybe 20-25 cars personally.
My current cars are a Volvo V60 for daily and family duties, it's a very competent car and does what it needs to well but I am bored of it already after 5 months of ownership, however I also have an 04 plate MX-5 on my driveway/ garage which I love and have a real blast driving, I paid just under £1100 for mine last November, relatively rust free and just got it through an MOT with nothing more than a headlight adjustment needed.
In summary I would suggest get something suitable for your daily family life whatever that may be then set yourself a budget of say £2k and see what comes up on Autotrader for cheap entertainment be it an MX-5, Clio 182 or any other selection of cheap hot hatches, I think you will be surprised what you can get for not a lot of cash and it's cheap motoring and fun.
Always been into modified cars, loved going to summer shows, events etc, had a car featured in a magazine at one point too.
I've had maybe 20-25 cars personally.
My current cars are a Volvo V60 for daily and family duties, it's a very competent car and does what it needs to well but I am bored of it already after 5 months of ownership, however I also have an 04 plate MX-5 on my driveway/ garage which I love and have a real blast driving, I paid just under £1100 for mine last November, relatively rust free and just got it through an MOT with nothing more than a headlight adjustment needed.
In summary I would suggest get something suitable for your daily family life whatever that may be then set yourself a budget of say £2k and see what comes up on Autotrader for cheap entertainment be it an MX-5, Clio 182 or any other selection of cheap hot hatches, I think you will be surprised what you can get for not a lot of cash and it's cheap motoring and fun.
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