Better than a bank
Discussion
Morning guys.
Right now I'm in need of a car, and the one I want is a bit out of my price range so I'm going to wait for a few months.
In the mean time though, what car could I get that'd hold it's money well for about 2 grand. As I'm only 19 I don't really want something high in insurance but that being said if there's anything that looks a bit tatty and needs a bit of DLC I could get temp insurance, bring it back to life then re-sell it.
Also, theres a scrap yard near me with a few cat-c cars, ones a 290 quid MG ZR with a bit of a scuff, an indicator missing but only 59k miles on the clock. What's your opinions on cat-c's? Worth it? Would you buy something which was previously declared a 'write off' even if it drove and looked well?
Thirdly; a classic car. I looked at a mint MK 1 Fiesta on ebay and was very tempted to purchase and make it into a replica fiesta supersport. It wouldn't look tacky it would look how it used too (no monster stickers or lowered suspension or massive stereo like you'd stereotypically asume with my age).
So, any ideas? It's got to keep or gain its worth though, so nothing new or too dear.
Look forward to hearing some ideas, and of course if anything interesting pops up and I decide to take it on I'll get some pictures on here.
Right now I'm in need of a car, and the one I want is a bit out of my price range so I'm going to wait for a few months.
In the mean time though, what car could I get that'd hold it's money well for about 2 grand. As I'm only 19 I don't really want something high in insurance but that being said if there's anything that looks a bit tatty and needs a bit of DLC I could get temp insurance, bring it back to life then re-sell it.
Also, theres a scrap yard near me with a few cat-c cars, ones a 290 quid MG ZR with a bit of a scuff, an indicator missing but only 59k miles on the clock. What's your opinions on cat-c's? Worth it? Would you buy something which was previously declared a 'write off' even if it drove and looked well?
Thirdly; a classic car. I looked at a mint MK 1 Fiesta on ebay and was very tempted to purchase and make it into a replica fiesta supersport. It wouldn't look tacky it would look how it used too (no monster stickers or lowered suspension or massive stereo like you'd stereotypically asume with my age).
So, any ideas? It's got to keep or gain its worth though, so nothing new or too dear.
Look forward to hearing some ideas, and of course if anything interesting pops up and I decide to take it on I'll get some pictures on here.
bimsb6 said:
The mg zr sounds cheap but i doubt it would be a cat c with the damage you mention more a cat d which makes it a better proposition
Take a look http://www.car-transplants.co.uk/repairable-vehicl...OP, this isn't going to work. To get a car that won't depreciate you either have to buy something immaculate and on the up and maintain it accordingly and use it very very sparingly, or improve something. Trouble is both cost money. If you were working with £200,000 you could manage it, but at entry level you won't. Anything you can but will cost you money either in depreciation or maintenance or both, unless you buy very well, don't drive it, and move it on after less than a year.
Better to choose something you love, and accept that it's going to cost you a bit. But if you spend all your time worrying about the cost, it's just a massive PITA.
Better to choose something you love, and accept that it's going to cost you a bit. But if you spend all your time worrying about the cost, it's just a massive PITA.
idibbers said:
Been keeping my eye on both 205 GTI's and 924's both great cars that aren't going to see any depreciation. Very tempted by that 924.
Hmm, careful with that, I "made" 250 quid when I sold my 944, but I spent probably 1500 quid and countless hours in the two years I had it, old cars generally require time and money, previous owner spent six grand on it.Sid's Dad said:
OP, this isn't going to work. To get a car that won't depreciate you either have to buy something immaculate and on the up and maintain it accordingly and use it very very sparingly, or improve something. Trouble is both cost money. If you were working with £200,000 you could manage it, but at entry level you won't. Anything you can but will cost you money either in depreciation or maintenance or both, unless you buy very well, don't drive it, and move it on after less than a year.
Better to choose something you love, and accept that it's going to cost you a bit. But if you spend all your time worrying about the cost, it's just a massive PITA.
Better to choose something you love, and accept that it's going to cost you a bit. But if you spend all your time worrying about the cost, it's just a massive PITA.
Never read such rubbish, 200k what planet are you on!
I have bought a few cars as the OP is looking to do and moved them on for a little more than I bought for, it is a buyers market, buy wise and it will work.
I would buy something cheap to run and economic this kind of car will move on quickly over a big cheap v8 jag ect... yaris diesel or something on those lines,
Good luck op.
Me and Scotty are on completely the same wavelength here. It's all about moving upwards from small priced cars to larger ones. Something like an old 1 litre that's nice isnside but a bit rough around the bodywork. Some TLC and more of a time consuming thing than a money one. More fun that way. Then yeh, bigger engined cars and more expensive repairs, but making sure everything works you into a profit.
The only problem for me right now is insurance (the king of money loss) so some nice, 1 day insurance could be a viable option. £45 for a day on a 1.3 1980's Ford Fiesta is still outrageous though.
The only problem for me right now is insurance (the king of money loss) so some nice, 1 day insurance could be a viable option. £45 for a day on a 1.3 1980's Ford Fiesta is still outrageous though.
Buy a crappy little 1 litre hatchback for a couple of hundred quid and run it until you can afford the car you want. It will be cheap to insure and should be cheap to fix, and if it isn't you just buy another cheap little 1 litre hatchback. I would just accept this is an in between car and do some bangernomics.
idibbers said:
bimsb6 said:
The mg zr sounds cheap but i doubt it would be a cat c with the damage you mention more a cat d which makes it a better proposition
Take a look http://www.car-transplants.co.uk/repairable-vehicl...To add to that MG, you would also need a VIC inspection before putting it back on the road. So allow some £100-200 to repair it (assuming new/replacement wing, new indicator and anything else it needs), £50 for the MOT and then the VIC (whatever that costs).
How much are they without being Cat-C (or Cat-D for that matter)?
How much are they without being Cat-C (or Cat-D for that matter)?
A bit left field but cheap classic car insurance and will hold it's money, if you don't mind being seen in it - http://www.carandclassic.co.uk/car/C454826
Something like that or a Mini would be low insurance (tax exempt) and give you your money back or better if you maintain them and tidy them up.
Something like that or a Mini would be low insurance (tax exempt) and give you your money back or better if you maintain them and tidy them up.
Yeah the MG was just an idea, a VIC test and an MOT would of course be needed (the indicator and wing would need to be fixed) but for one with 59k miles and no write of history you'd be looking at about 1-1.5k.
That Marina is an absolute gem of a find! Beautiful cars. Was recently looking at Stags as well, definitely would prefer a classic to a write off.
That Marina is an absolute gem of a find! Beautiful cars. Was recently looking at Stags as well, definitely would prefer a classic to a write off.
FourWheelDrift said:
A bit left field but cheap classic car insurance and will hold it's money, if you don't mind being seen in it - http://www.carandclassic.co.uk/car/C454826
Something like that or a Mini would be low insurance (tax exempt) and give you your money back or better if you maintain them and tidy them up.
Except he is 19 , doesn't classic insurance require you to be older than that? Something like that or a Mini would be low insurance (tax exempt) and give you your money back or better if you maintain them and tidy them up.
I thought it was dependent on the insurer and the car. So as to discourage under 20s from driving classic big engined cars. People like Footman James and Lancaster Insurance would be the ones to check it out with but then as you say there probably won't be much difference with something like a 1.3 Marina.
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