What cut backs have you made recently?

[wong]

twing said:

Didn't realise my LEDs were so cheap to use tbh. Just been pricing up the oil heaters cost per hour and they don't seem cheap at all. At this rate I'll be taking my mother's advice and putting another layer on

Back at Uni. when I rented a house with 5 other poor students, we had to wear woolly hats and fingerless gloves indoors. Could see your breath condensing in the mornings. Never ever put the heating on.

[twing]

r3g said:

Ah. I had perhaps wrongly assumed he had gas as well, from his mention of alternatives to gas appliances.

I have both but the gas bill really annoys me. Think maybe the post above about just leaving the one rad on is probably best. Infrared seems cheap to run but expensive upfront. Guess I'll just suck it and see. I'm not usually fussed and just hope for the best but I've done pretty well at keeping a few quid back recently and I really don't want to be chucking it all at BG and SSE

[Shnozz]

r3g said:

Shnozz said:

r3g said:

Unless I've missed a change, mains electric is always more expensive for heating than mains gas in the UK due to their difference in price per unit. People only use electric for heating duties if there's no mains gas. I think you'd be better moving the GCH thermostat into the single room you want to heat and turn off the rads in the other rooms.

I assumed twing was on electric only.

Ah. I had perhaps wrongly assumed he had gas as well, from his mention of alternatives to gas appliances.

Nope, you had assumed right!

In which case it’s utterly bonkers using anything electric in place of gas when it’s so much cheaper at present. Shouldn’t be thinking of an electric heater!!

[Shnozz]

twing said:

I have both but the gas bill really annoys me. Think maybe the post above about just leaving the one rad on is probably best. Infrared seems cheap to run but expensive upfront. Guess I'll just suck it and see. I'm not usually fussed and just hope for the best but I've done pretty well at keeping a few quid back recently and I really don't want to be chucking it all at BG and SSE

Why does the gas bill annoy you?! Be thankful you have gas.

I also have infrared heating in another property. It’s pretty good but of course is only effective when you are sat directly in its line.

[twing]

Shnozz said:

Why does the gas bill annoy you?! Be thankful you have gas.

I also have infrared heating in another property. It’s pretty good but of course is only effective when you are sat directly in its line.

Oh I'm thankful I have it, Just hate paying the bill. All this talk of cutting back has really made me think of how wasteful I've been over the years, switching everything on and not bothering to turn if off when not needed. My OCD will be in full swing until I'm satisfied I'm doing everything I possibly can

[Sticks.]

With gas heating I found when I had the system balanced there was a big difference in even warmth distribution and, I assume, efficiency. Not sure how much a system flush would help, probably depends on when, if ever, it was last done. With TRVs, obviously, and if you've old rads, more efficient aren't that expensive compared to fuel. Worth remembering to open and close TRVs during Summer so they don't stick.

There's always been a cold area downstairs at home which I've yet to figure out so I might see if there's a clever/precise thermometer I can get to help track it down.

[ClaphamGT3]

I was planning on buying myself an SLS as my last hurrah for the Internal Combustion engine but am thinking twice now.

Have told eldest daughter she can go on the school hockey tour to South Africa or the school ski trip to Banff next year but not both.

May sell the second boat, as we're not really using it these days

[Nickbrapp]

Off topic but today I finally had my first gas bill from British Gas for the period december till June. - £290 which I think isn’t too bad since we had the heating at 21-22 all the time apart from at night and 2 showers a day plus maybe 3/4 baths a week, plus cooking.

Testimonial to new builds and new boilers/hobs being more efficient I guess

[DT1975]

I probably don't need to but am thinking of binning the BMW 340i. Extended warranty is £340 a year I still have two years of luxury tax at £500 +, I'm getting 27-29 mpg for 99% of my daily journeys. No finance. I do less than 5k a year.

I paid £30k new (pre reg) 4 years ago and have been offered £23.5k part ex against a nearly new Corolla Hybrid or Nissan Leaf so cost to change not much for something that may last a decade with few issues. As stated there's no finance so I'm thinking of using the equity to set me up for the forseeable in something slightly more reasonable to run price wise.

I'm not sure if to stick or twist. Will a low mileage, fully serviced 340i be worth more than a Corolla (or any other generic 'thing') in 5/10 years or will the Government force us down the rabbit hole. Obviously I'll make savings but will that be countered in depreciation ?

Edited by DT1975 on Saturday 25th June 20:08

[Deep Thought]

DT1975 said:

I probably don't need to but am thinking of binning the BMW 340i. Extended warranty is £340 a year I still have two years of luxury tax at £500 +, I'm getting 27-29 mpg for 99% of my daily journeys. No finance. I do less than 5k a year.

I paid £30k new (pre reg) 4 years ago and have been offered £23.5k part ex against a nearly new Corolla Hybrid or Nissan Leaf so cost to change not much for something that may last a decade with few issues. As stated there's no finance so I'm thinking of using the equity to set me up for the forseeable in something slightly more reasonable to run price wise.

I'm not sure if to stick or twist. Will a low mileage, fully serviced 340i be worth more than a Corolla (or any other generic 'thing') in 5/10 years or will the Government force us down the rabbit hole. Obviously I'll make savings but will that be countered in depreciation ?

Edited by DT1975 on Saturday 25th June 20:08

Bar the luxury tax thats pretty much where we are, only in a 2019 M140i. 5K per year miles, most of it relatively mundaine shopping runs etc.

We're sticking with our original plan though which was to keep the car 10+ years. There'll come a time when a hybrid eurobox or electric car is right for us and we'd be happy with it, but we're not there yet.

[richatnort]

DT1975 said:

I probably don't need to but am thinking of binning the BMW 340i. Extended warranty is £340 a year I still have two years of luxury tax at £500 +, I'm getting 27-29 mpg for 99% of my daily journeys. No finance. I do less than 5k a year.

I paid £30k new (pre reg) 4 years ago and have been offered £23.5k part ex against a nearly new Corolla Hybrid or Nissan Leaf so cost to change not much for something that may last a decade with few issues. As stated there's no finance so I'm thinking of using the equity to set me up for the forseeable in something slightly more reasonable to run price wise.

I'm not sure if to stick or twist. Will a low mileage, fully serviced 340i be worth more than a Corolla (or any other generic 'thing') in 5/10 years or will the Government force us down the rabbit hole. Obviously I'll make savings but will that be countered in depreciation ?

Edited by DT1975 on Saturday 25th June 20:08

Keep the 340i 1000% I think the 340i is a solid investment now also that valuation sounds like a bag of st. I sold mine in 2020 for 26k very easily!

[brickwall]

DT1975 said:

I probably don't need to but am thinking of binning the BMW 340i. Extended warranty is £340 a year I still have two years of luxury tax at £500 +, I'm getting 27-29 mpg for 99% of my daily journeys. No finance. I do less than 5k a year.

I paid £30k new (pre reg) 4 years ago and have been offered £23.5k part ex against a nearly new Corolla Hybrid or Nissan Leaf so cost to change not much for something that may last a decade with few issues. As stated there's no finance so I'm thinking of using the equity to set me up for the forseeable in something slightly more reasonable to run price wise.

I'm not sure if to stick or twist. Will a low mileage, fully serviced 340i be worth more than a Corolla (or any other generic 'thing') in 5/10 years or will the Government force us down the rabbit hole. Obviously I'll make savings but will that be countered in depreciation ?

Edited by DT1975 on Saturday 25th June 20:08

Make a spreadsheet with the full cost of ownership calculations for the next 5 years.

If you assume the 2018 BMW is worth £10k in 2028 and the 2022 Generic thing worth the same then your only savings are fuel, maintenance, and 2 years of road tax premium.

Don’t know what your mileage is, but at 7,500 miles per year I’d be amazed if the difference is more than £1-1.5k per year. You’d have to pay me a LOT more than that to swap my B58 for a fking hybrid Corolla.

[MaxFromage]

TheRainMaker said:

I sold my 5.0 supercharged XFR for the same as I paid two years ago.

The Jaguar cost many times less to own than my new EV.

I think it’s something like four months of payments on my EV is the same as running the XFR for a full year

As an ex-owner of an XFR as well, I think we both know that depends on how many miles you do and how much noise you make

[MercedesClassic]

I agree mostly with the ICE BMW fun car argument and the fact sheet to work out the cost/pain analysis. But....

As an owner of plenty of premium German excellence I know they go wrong, often enough and if outta warranty then it's on you. After year 3 it's you who is paying the big bucks.

The more reliable, boring Japanese including hybrid kit especially if Toyota is 10 year warranty! That in itself is a selling point they have faith in their products. They are looking after you ultimately.

That might mean a ten year old Corolla Hybrid in 2032 just out of warranty is worth less than a 340i which is seen as a classic? Or it might mean oh we've 3 more years until 2035 before hybrids are banned so they appreciate in value????

[Hugo Stiglitz]

I've stopped driving my car. It's interesting how quickly dust builds up when you don't use it!

[Throttlebody]

DT1975 said:

I probably don't need to but am thinking of binning the BMW 340i. Extended warranty is £340 a year I still have two years of luxury tax at £500 +, I'm getting 27-29 mpg for 99% of my daily journeys. No finance. I do less than 5k a year.

I paid £30k new (pre reg) 4 years ago and have been offered £23.5k part ex against a nearly new Corolla Hybrid or Nissan Leaf so cost to change not much for something that may last a decade with few issues. As stated there's no finance so I'm thinking of using the equity to set me up for the forseeable in something slightly more reasonable to run price wise.

I'm not sure if to stick or twist. Will a low mileage, fully serviced 340i be worth more than a Corolla (or any other generic 'thing') in 5/10 years or will the Government force us down the rabbit hole. Obviously I'll make savings but will that be countered in depreciation ?

Edited by DT1975 on Saturday 25th June 20:08

Residuals on used EVs are a developing problem.

A dealer I spoke to recently said he won’t sell them secondhand as they get to a certain age when they are expensive to finance due to the projected low future residual value or ballon set by the finance companies. A 6 year old EV, at future contract end, has a potential expensive battery life issue.

As a cash buyer you have to weigh up what a long term EV will be actually worth as battery life fades.

[Fusion777]

Residuals on used EVs are really good though, even at 6 years old. Look at Model S and i3 prices.

Didn’t think battery degradation was anywhere near as much of an issue as some say?

[Jon39]

Fusion777 said:

Residuals on used EVs are really good though, even at 6 years old. Look at Model S and i3 prices.

Didn’t think battery degradation was anywhere near as much of an issue as some say?

There might be big margin gaps, between selling to a dealer and the retail prices we see advertised.

Will need to wait a few years, for there to be a greater number of EVs in any sample and for a pattern of battery life expectancy
to become clear.

There have been a few instances of EVs being written off soon after the battery warranty expiry, but too few to draw any proper conclusions, apart from the present known parts and labour cost of battery replacement. The Nissan Leaf battery seems to be replaceable at a fairly reasonable cost (the job does not take too long), but for some more expensive makes, the potential cost has exceeded the vehicle value.

[Deep Thought]

Throttlebody said:

Residuals on used EVs are a developing problem.

A dealer I spoke to recently said he won’t sell them secondhand as they get to a certain age when they are expensive to finance due to the projected low future residual value or ballon set by the finance companies. A 6 year old EV, at future contract end, has a potential expensive battery life issue.

As a cash buyer you have to weigh up what a long term EV will be actually worth as battery life fades.

As usual, you've taking a mish mash of information and cherry picked the bits that suit your narrative.

Getting 6 year old EV stock would be the limiting factor given their rarity, not funding reselling it.

The typical dealer funding mechanism for a typical 6 year old ICE car wouldnt be PCP anyway - it would be HP, for a variety of reasons - low residual value on most 9-10 year old cars, high interest rates, risk profile of cars of that age.

If he was a franchised dealer he likely wouldnt want to be putting 6 year old car on his forecourt anyway.

Values for EVs are anything but a problem by the way. They're crazy high on used cars and are likely to remain that way with prices set to remain high or go even higher for petrol and diesel.

Edited by Deep Thought on Sunday 26th June 10:22

[James6112]

Another £12.50 a month saved
Banking travel pack cancelled
They used every trick to wriggle out of a claim due to covid & i’ve never used the limited RAC cover it gave.
Cancelled the gadgets cover previously, similar cost.
All adds up !