Budget annual cost
Discussion
The boy turned 17, itching to buy his own car.
I want to encourage that, but also educate as to the 'true' cost, not just the initial purchase.
Example, my car cost £3,500 cash, buy I probably budget £4-500/yr for repairs.
I have fair confidence in those numbers as done it with last 3 cars, keeping them 4-5 years each.
He often sees cars advertised at £1k and under, immediately thinks 'bargain'.
I just panic and think 'new breakdown every week' !
So I'm curious, if you were buying a sub-grand car, how much would you expect/anticipate to be spending on keeping it running for the next year or two??
It's going to be small car given age/insurance.
Do any of you have 'budgets' that help you weigh up options? I know nothing certain & always risk... but you got to start with some plan, right?
I want to encourage that, but also educate as to the 'true' cost, not just the initial purchase.
Example, my car cost £3,500 cash, buy I probably budget £4-500/yr for repairs.
I have fair confidence in those numbers as done it with last 3 cars, keeping them 4-5 years each.
He often sees cars advertised at £1k and under, immediately thinks 'bargain'.
I just panic and think 'new breakdown every week' !
So I'm curious, if you were buying a sub-grand car, how much would you expect/anticipate to be spending on keeping it running for the next year or two??
It's going to be small car given age/insurance.
Do any of you have 'budgets' that help you weigh up options? I know nothing certain & always risk... but you got to start with some plan, right?
I help a mate with his car, £1k fiesta. He budgets around £300 per year for running costs.
Easy to achieve IMHO as long you DIY. There is a wealth of info online these days. Good access to spares, both new and used had never been greater.
Running a 20 year old 7 series on that budget might be a different game!
Easy to achieve IMHO as long you DIY. There is a wealth of info online these days. Good access to spares, both new and used had never been greater.
Running a 20 year old 7 series on that budget might be a different game!
Cheers, that's helpful.
Boy has just done lvl 1 motor mechanics, hopefully apprenticeship next year, so the DIY approach is possible so long he accepts off road time while he fixes/learns.
As far as kitting him out with tools, are we talking £100,£500,£1000 to get him up and running?
(Can you tell that I'm no piston head myself?)
Boy has just done lvl 1 motor mechanics, hopefully apprenticeship next year, so the DIY approach is possible so long he accepts off road time while he fixes/learns.
As far as kitting him out with tools, are we talking £100,£500,£1000 to get him up and running?
(Can you tell that I'm no piston head myself?)
Esby said:
Cheers, that's helpful.
Boy has just done lvl 1 motor mechanics, hopefully apprenticeship next year, so the DIY approach is possible so long he accepts off road time while he fixes/learns.
As far as kitting him out with tools, are we talking £100,£500,£1000 to get him up and running?
(Can you tell that I'm no piston head myself?)
Personally i found a halfords professional medium sized set (around £150) covered most of what i needed to do, topped up with weird torx bits etc as an when neededBoy has just done lvl 1 motor mechanics, hopefully apprenticeship next year, so the DIY approach is possible so long he accepts off road time while he fixes/learns.
As far as kitting him out with tools, are we talking £100,£500,£1000 to get him up and running?
(Can you tell that I'm no piston head myself?)
Edit : http://www.halfords.com/webapp/wcs/stores/servlet/...
Edited by Swampy1982 on Sunday 2nd July 18:30
Gassing Station | Car Buying | Top of Page | What's New | My Stuff