Do PHers still practice bangernomics?
Discussion
Hoofy said:
The shed being worth £500 might well be worth £500 in 5 years' time if it's still on the road. 
Meanwhile, you've lost £1k a year.
You have to remember that a shed is essentially a free car when it's worth £500. Even my not-so-shed 4x4 (which has more space than a Leaf) cost £1700 two years ago and models are still going on Autotrader for over £1600, meaning I've lost about £100 in depreciation. (No servicing or fixing costs because I only get stuff sorted if it fails the MOT, which it hasn't!)
So the reality is that I've lost nothing in depreciation over two years whereas you're down £2k.
I was just using your figures, CAP values for the Leaf have actually gone up recently so they’re not dropping 1k p.a. Meanwhile, you've lost £1k a year.You have to remember that a shed is essentially a free car when it's worth £500. Even my not-so-shed 4x4 (which has more space than a Leaf) cost £1700 two years ago and models are still going on Autotrader for over £1600, meaning I've lost about £100 in depreciation. (No servicing or fixing costs because I only get stuff sorted if it fails the MOT, which it hasn't!)
So the reality is that I've lost nothing in depreciation over two years whereas you're down £2k.
(well not older ones like mine)
Even if it did that’s going to be a lot less than your fuel and tax bill? (unless you do very few miles?)
NB I assumed in my calcs that any shed isn’t going to depreciate!
nickfrog said:
andburg said:
These days, pick the right shed and it may increase in value!
Probably but it's still a shed. Each to their own though.danp said:
Hoofy said:
The shed being worth £500 might well be worth £500 in 5 years' time if it's still on the road. Meanwhile, you've lost £1k a year.
You have to remember that a shed is essentially a free car when it's worth £500. Even my not-so-shed 4x4 (which has more space than a Leaf) cost £1700 two years ago and models are still going on Autotrader for over £1600, meaning I've lost about £100 in depreciation. (No servicing or fixing costs because I only get stuff sorted if it fails the MOT, which it hasn't!)
So the reality is that I've lost nothing in depreciation over two years whereas you're down £2k.
I was just using your figures, CAP values for the Leaf have actually gone up recently so they’re not dropping 1k p.a. Meanwhile, you've lost £1k a year.You have to remember that a shed is essentially a free car when it's worth £500. Even my not-so-shed 4x4 (which has more space than a Leaf) cost £1700 two years ago and models are still going on Autotrader for over £1600, meaning I've lost about £100 in depreciation. (No servicing or fixing costs because I only get stuff sorted if it fails the MOT, which it hasn't!)
So the reality is that I've lost nothing in depreciation over two years whereas you're down £2k.
(well not older ones like mine)
Even if it did that’s going to be a lot less than your fuel and tax bill? (unless you do very few miles?)
NB I assumed in my calcs that any shed isn’t going to depreciate!
I think I calculated a while ago that if I bought a Leaf brand new, it would take over 10 years doing 4-5000 miles a year (my current mileage) to break even. Hence, my decision to just redline it everywhere with a 3 litre 4x4 made more economical sense!!
But a Leaf is too small so it'd have to be something else like a Tesla something or other which means I'd have to own it for 15-20 years!
nickfrog said:
Hoofy said:
My last shed had leather seats, working aircon, a ridiculously bassy hifi system with 11 speakers (S60 Turbo) all for £650. (Auto gearbox was a tad notchy but didn't bother me.) They're not all rusty half broken B reg Fiesta 1.1s.
Cool. Each to their own still. I use a T reg Clio 1.2 bought it 3 years ago for £600, used mostly for commuting mostly back lanes so the odd scratch
. Only cost me tyres and a battery done 40k and still going ok ??. Got the t5 camper for leisure so bangernomics all the way basically a disposable car! Had a AX and a Skoda Felicia after that.
. Only cost me tyres and a battery done 40k and still going ok ??. Got the t5 camper for leisure so bangernomics all the way basically a disposable car! Had a AX and a Skoda Felicia after that.Edited by scoobygaz1 on Wednesday 20th December 19:47
Currently running two C class Mercs, each bought for £500 odd, done nothing to one, swopped out brakes and belts on the 2nd, a C230 Kompressor auto estate, didn't spot the issue on a very short test run. They are 2nd and 3rd cars on a multiple classic car policy so will do maximum 5k miles between them.
Great fun, but I do rely on my very able and not too difficult to pay mechanic friend!
P
Great fun, but I do rely on my very able and not too difficult to pay mechanic friend!
P
I bought a £200 1997 Honda Civic 5 door for the winter. I had to spend £50 sorting the heater fan out (resistor - commonest fault - and heater fan - unheard of fault) but now it's toasty warm. Boring and slow, not particularly economical but it saves me getting cold and wet and my motorcycle getting crusty from road salt. It has MOT until May so as soon as the salt's washed away in about March, I'll stick it on eBay and see what I get back.
I think it is the word 'shed' which some don't like/has negative connotations.
I love older cars and some stuff I grew up wanting is now very cheap. I would love a Peugeot 405 GTXi for instance but I can't find a decent one. Likewise, old W124s, E39's etc are wonderful.
Lots of these cars are a damn sight more interesting than some boring new hot hatch. As for a f
king Leaf...pull the other one.
But then I don't buy these types of cars solely to save a few quid.
I love older cars and some stuff I grew up wanting is now very cheap. I would love a Peugeot 405 GTXi for instance but I can't find a decent one. Likewise, old W124s, E39's etc are wonderful.
Lots of these cars are a damn sight more interesting than some boring new hot hatch. As for a f
king Leaf...pull the other one.But then I don't buy these types of cars solely to save a few quid.
Hoofy said:
What is it that you don't like about decent sheds? Is it just the look as they tend to be cars that are 10+ years old?
No I quite like the looks actually. I just think they're a false economy from people around me who have tried that avenue. And they're still old despite being quite expensive overall. And the suspension kinematics are usually totally shagged and expensive to refresh.nickfrog said:
Hoofy said:
What is it that you don't like about decent sheds? Is it just the look as they tend to be cars that are 10+ years old?
No I quite like the looks actually. I just think they're a false economy from people around me who have tried that avenue. And they're still old despite being quite expensive overall. And the suspension kinematics are usually totally shagged and expensive to refresh.I guess it depends on whether they are doing bangernomics properly or not. You buy a ~£500 car. If it needs something fixing that is say £100-200 then do it. If it turns out that it needs £500+ spent on it, you bin it and start again. It is supposed to be cheap hence the term. If they are not making massive savings then they're doing something wrong.
I went from a £15k car to a £700 car and saved a shed load (pun intended).
nickfrog said:
Yes due diligence helps. But surely the level of uncertainty doesn't, as the cost of rinsing and repeating adds up. And the cars are still by and large shagged compared to a 15k car.
Yeah - £500 a year. I'm no mechanical genius but have managed to buy <£1k cars that lasted over a year and didn't need much done to them (a couple of times paying £2-300 to fix something eg replace a coil pack after 8 months).And tbh I wouldn't even guarantee that a £15k car would be reliable.
Limpet said:
I know someone who takes it to the other extreme. The most he's ever spent on a car in the 20 years I've known him is £500. Picks a random snotter with a year's MOT for £400-£500. And just drives it until it breaks, or fails an MOT expensively. Zero maintenance, cleaning, care etc. All noises, warning lights etc get completely ignored. A decision on whether to deal with an MOT or mechanical failure is based purely on the cost of rectification vs the cost of another MOT'd snotter. He is completely emotionally detached from the things. Properly insured and taxed, but otherwise zero fecks given.
He has a habit of getting 2-3 years out of a £400 car spending virtually nothing on it until something catastrophic fails (or MOT man condemns it), before picking up the next one and doing the same again.
It's a lifestyle choice for him. He could go and buy something nice new, or used, but cars are just not his thing. A tool for a job, like a lawnmower or a chop saw.
This, for me, is bangernomics proper.He has a habit of getting 2-3 years out of a £400 car spending virtually nothing on it until something catastrophic fails (or MOT man condemns it), before picking up the next one and doing the same again.
It's a lifestyle choice for him. He could go and buy something nice new, or used, but cars are just not his thing. A tool for a job, like a lawnmower or a chop saw.
The PH version seems closer to the Readers' Cars thread where a guy has spent several grand and every waking moment turning a very normal and cheap Passat into a concours-ready daily drive.
Limpet said:
I know someone who takes it to the other extreme. The most he's ever spent on a car in the 20 years I've known him is £500. Picks a random snotter with a year's MOT for £400-£500. And just drives it until it breaks, or fails an MOT expensively. Zero maintenance, cleaning, care etc. All noises, warning lights etc get completely ignored. A decision on whether to deal with an MOT or mechanical failure is based purely on the cost of rectification vs the cost of another MOT'd snotter. He is completely emotionally detached from the things. Properly insured and taxed, but otherwise zero fecks given.
He has a habit of getting 2-3 years out of a £400 car spending virtually nothing on it until something catastrophic fails (or MOT man condemns it), before picking up the next one and doing the same again.
It's a lifestyle choice for him. He could go and buy something nice new, or used, but cars are just not his thing. A tool for a job, like a lawnmower or a chop saw.
This is the kind of attitude to cars I aspire to have. Currently i have a new car on finance as it worked out cheaper per month (£150 finance, and £50 insurance) to have a small car on finance and cheap insurance than it did to buy a £500 shed and end up paying like £300 a month on insurance alone, plus unknown maintenance costs.He has a habit of getting 2-3 years out of a £400 car spending virtually nothing on it until something catastrophic fails (or MOT man condemns it), before picking up the next one and doing the same again.
It's a lifestyle choice for him. He could go and buy something nice new, or used, but cars are just not his thing. A tool for a job, like a lawnmower or a chop saw.
I just went ahead and got the car on the condition that when the finance is finished I'd hand it back (PCP) and then immediately purchase a car for no more than £500.
However, I've unfortunately become rather attached to my heated seats, so I'm now going to have to look at the old barges just to get those heated seats I desire
TheInsanity1234 said:
This is the kind of attitude to cars I aspire to have. Currently i have a new car on finance as it worked out cheaper per month (£150 finance, and £50 insurance) to have a small car on finance and cheap insurance than it did to buy a £500 shed and end up paying like £300 a month on insurance alone, plus unknown maintenance costs.
How can it be just 12 x £50 for a new car vs 12 x £300 for an old car? I guess you're not quite comparing like for like and the insurance is largely irrelevant as an expense as that is determined by the driver's age, location, experience etc.If I got a Volvo S60 on lease, it's nearly £400 a month. An S60 shed would cost £500 one-off and leaving you £4300 to pay to fix things. Not that you'd pay that; you'd just buy another shed for £500 if it gave up after 6 months.
With bangernomics:
Best case scenario - £4300 spare in the bank
Worst case scenario - £3800 spare in the bank.
Edited by Hoofy on Thursday 21st December 15:47
Gassing Station | General Gassing | Top of Page | What's New | My Stuff