Do I spend more or less?
Discussion
Sooooo this might be an early morning rambling (I'm running out of work to do so my mind wonders) but I've been thinking about my next car, and a thought has struck me.
Normally I will try and spend the max of my budget (which will be what I have managed to save up) on a car - be it £6500, £8000, £1500, etc. on the car, trying to get the newest/best I can for my money.
However, I've thrown myself a curveball this time. My current car was bought for £6500. Is now probsbly worth £5000-5500 a year later. My max budget is probably £8k.
Now, I don't do a lot of mileage - my current car is on 62k, and has done about 4k miles in the last year. I'm now commuting to work in it though which I wasn't a month ago, so it's likely to double to about 8-10k miles a year.
Should I spend more like £5k on a higher mileaged, slightly older car, or £8k on a lower mileaged, slightly newer version of the same car? If/when I get bored in a year, the cheaper one will be worth less - thus limiting the amount I have to spend on the next car (unless I've been smart and saved up, which I may not have). The newer/more expensive car will have depreciated, so will have affectively cost me more to run.
I will be planning on spending some money on the car - I always like to make sure anything that needs replacing is done so with the highest quality upgrade / replacement etc.
I'm tempted to go for something cheaper / higher mileaged this time, and spend the left overs in go faster bits. But I have this weird feeling that I don't like throwing more than xx% of a car's value at it.
This has just turned into me mumbling now. Anyone fancy replying so I've got something to mull over? Tell me I'm crazy? To shut up? etc...
Normally I will try and spend the max of my budget (which will be what I have managed to save up) on a car - be it £6500, £8000, £1500, etc. on the car, trying to get the newest/best I can for my money.
However, I've thrown myself a curveball this time. My current car was bought for £6500. Is now probsbly worth £5000-5500 a year later. My max budget is probably £8k.
Now, I don't do a lot of mileage - my current car is on 62k, and has done about 4k miles in the last year. I'm now commuting to work in it though which I wasn't a month ago, so it's likely to double to about 8-10k miles a year.
Should I spend more like £5k on a higher mileaged, slightly older car, or £8k on a lower mileaged, slightly newer version of the same car? If/when I get bored in a year, the cheaper one will be worth less - thus limiting the amount I have to spend on the next car (unless I've been smart and saved up, which I may not have). The newer/more expensive car will have depreciated, so will have affectively cost me more to run.
I will be planning on spending some money on the car - I always like to make sure anything that needs replacing is done so with the highest quality upgrade / replacement etc.
I'm tempted to go for something cheaper / higher mileaged this time, and spend the left overs in go faster bits. But I have this weird feeling that I don't like throwing more than xx% of a car's value at it.
This has just turned into me mumbling now. Anyone fancy replying so I've got something to mull over? Tell me I'm crazy? To shut up? etc...
Riknos said:
Probably an S2000. I have a thing for 2 seater roadsters.
Buy a facelift, 6.5k ish. Job jobbed.http://www.pistonheads.com/classifieds/used-cars/h...
Edited by pboyd on Wednesday 6th March 05:31
How long do you plan on keeping the car? No point spending anything you don't have to on repairs or upgrades for a car you plan on only keeping for 12 months. Only time I'd spend on a car that I was keeping for that short a period of time would be to get it through a MOT or increase its resale value.
Again, if you are only keeping the car for 12 months then I would suggest look to minimise the amount you'll lose on the car in those 12 months, that to me would be more important than how much I spent up front as long as I was within what I could afford.
Again, if you are only keeping the car for 12 months then I would suggest look to minimise the amount you'll lose on the car in those 12 months, that to me would be more important than how much I spent up front as long as I was within what I could afford.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff