Depreciaton

[robparker]

Each to their own but I too have other things to get concerned about like where to go on my 3 months holidays a year, and what to do in the hours outside my enjoyable, non stressed (though relatively low paid) 25hr a week job!

I'm set up relatively well for life after only 5 years in the rat race at a young age and that's only because I've made at least a quick attempt to look into the true cost of things and decide what i really want. As a car is the second biggest expense then it seems reasonable to understand the true cost of it. I couldn't have the lifestyle I have now if in the past or now i ignored things like depreciation and just bought a new frugal diesel merc every few years.

I respect you wanting to worry about other things and good for you, but i don't see why it's surprising that other people might spend an hour or so every 12 months analysing their second biggest (or in some cases first biggest) cost!

Im with you, once the morgage is paid off, then maybe if I feel like it would I spend more money on a car, maybe not, but until thats done, thats more important than a flashy car, therefore buying new would be stupid and i'll continue to run old ones as its cheaper

 

[television]

Im with you, once the mortgage is paid off, then maybe if I feel like it would I spend more money on a car, maybe not, but until thats done, thats more important than a flashy car, therefore buying new would be stupid and i'll continue to run old ones as its cheaper

I am with you 100% on your way of life, I have never had a new car and concentrated back in the 60's in the boom years paying off the house and did so in 2 years, this meant that for the rest of my life I would never have to worry about such things.

My good friend down here where I live now went out and bought a brand new Fiesta 2½ years ago, he never told me and just went out and bought it over 4 years finance. He only uses the car to go 7 miles to work each day. 18 months ago he was found to have leukemia, and had to take a lot of time off work, to make things worse the firm he worked for was sold off and his self employed status was changed to that of employed at £7 per hour. He now can barely pay his way and he still owes much more on the car than it is worth. His mortgage was only £22k before he bought the car, and he could have paid it nearly all off, but I guess we are all different.

 

[S80]

The other side of the coin is that some people will scrimp and save for years - denying themselves much 'pleasure' - with the intention of 'doing it all when we retire'.

Sadly, ill health - or the Grim Reaper - can step in before that dream can be fulfilled.

 

[television]

The other side of the coin is that some people will scrimp and save for years - denying themselves much 'pleasure' - with the intention of 'doing it all when we retire'.

Sadly, ill health - or the Grim Reaper - can step in before that dream can be fulfilled.

Indeed I am very guilty of that and not spending much,,, its not easy, my bank balance goes up by quite a lot each month, we have all we need and want, sure my car is an 2007 and I could go and buy a newer one, but my inbuilt protection system will not let me. OK as Lilian loved going away to the meets next year we will have some long weekends away.

Answers on a post card please

 

[PeterCLK]

Well I'm lucky in that I'm retired, mortgage paid off and the car (which started off this thread) was paid for from cash.
As ever a mixture of hard realism and subjective emotions dictate our car buying habits.
I started off on rusting A 40's and a Triumph Herald which I spent most weekends trying (and often failing). to repair.
In these circumstances a dream for me was to buy myself a new Mercedes and with the CLK I did this. I could afford it at the time.
I sold it because I was worried about the return of the electrical gremlins and did not want to spend good money on a car worth £3k at most.
Additionally, we plan to do some extended European and British tours this year and above all want a reliable and frugal (if that's possible with a car) motor.
The 4 doors of the saloon are more user friendly to our ageing arthritic backs and necks.
So, no regrets here. It was my choice to buy these motors and I still paid for both my children to go through university and indeed have passed on the very sensible idea of owning a Mercedes to my son who recently bought a 09 C class (sport of course) with 96k on the clock. He loves it.
Just need to work on my son-in-law but he is forgiven as they live in central London and don't own a car.

 

[robparker]

The other side of the coin is that some people will scrimp and save for years - denying themselves much 'pleasure' - with the intention of 'doing it all when we retire'.

Sadly, ill health - or the Grim Reaper - can step in before that dream can be fulfilled.

I do agree with that, but then I think im not going to buy a new car incase I die soon, it wont be a very big regret if I die not having owned a new one. But alot of the ways I do enjoy myself are free/cheap, so im still living a fulfilling life whjilst saving for the future. History shows me I get bored with cars fairly quickly anyway so I cant think a new one will be much different, maybe in the future i'll find out, if im still alive

 

[GeeAy]

in 199 i bought a Daewoo Matiz for £6495. inc 1 years insurance and 3 years servicing. we can talk percentages all we like, but it could only ever lose 6495! The family had it 10.5 years with no spend other than consumables. passed on under scrappage for 2k against a new Alfa Mito on which it was virtually impossible to haggle a discount in at the time. Now thats value. All hail the mighty Matiz!

 

[Silver_Star]

Yes, but you more than paid for it having to have drive a Matiz for 10 years.

My mother had one as a hire car once and even she was glad to get back to her 1.2 fiesta as she felt it was gutless and unsafe. She was pulling out of a junction and I thought she was pulling out in 3rd it was so bad.

 

[SL63 Mark]

The other side of the coin is that some people will scrimp and save for years - denying themselves much 'pleasure' - with the intention of 'doing it all when we retire'.

Sadly, ill health - or the Grim Reaper - can step in before that dream can be fulfilled.

That's exactly why I bought the SL55. Have some fun while you have the health to enjoy it.

 

[television]

That's exactly why I bought the SL55. Have some fun while you have the health to enjoy it.

I certainly had some fun in my SL500 it did me good to buy that car

 

[Cardinal Biggles]

Yes, ex demo or newish second hand is definitely the way to go.

My CLS 320i would have cost me £48k new with all the options on it. (yes, I know I couldnt afford a new one!)

After 18months in MBs own fleet I bought it and paid £30k, which included new tyres, 12 months RFL and a service. So there's almost 40% off a car which looked, felt and even smelled brand new. There was 18 months warranty left on the car, and as well as peace of mind Ive had work done under warranty which would have cost me several hundred pounds. (some trim details and a part worn f o/s wheel bearing - both front replaced)

Before it ran out of warranty the servicing dealer went through the car at its service and made sure everything was in great order. The one or two minor detail items they found were replaced foc.

I guess now its worth maybe £20k at 3.5 years. It looks and feels brand new.

Im not sure how dep'n will work for the next few years, but I would expect it to slow down a lot between 3-5 years, and go minimal after that.

Meanwhile anyone who would pay £20k for this at 3 years old would be getting a fantastic car of real quality and high grade engineering. It would be freshly serviced and tweaked to perfection, and with 28k on the clock barely run in.

I could put ten years on this car and then just throw it away - whats £3k a year for a car such as this? £8 a day. I know people who spend that every day on booze or fags. Id much rather have my CLS instead.

MB depreciation today isnt what it used to be, but its still ****** good.

 

[GeeAy]

I actually loved the Matiz... I think it aggravated other people far more than it aggravated me! - In fact I know it did. I've seen people almost explode over the inside of their windscreens when I overtook them. ;-)

 

[Remenham]

I actually loved the Matiz... I think it aggravated other people far more than it aggravated me! - In fact I know it did. I've seen people almost explode over the inside of their windscreens when I overtook them. ;-)

I know what you mean. When I drive my wife's Citroen C8 it amuses me that drivers of BMWs, Mercs etc feel they have to overtake me even though they don't actually want to go any faster. When they've forgotten and slowed back down I sail past again with the cruise set on 80. This can go on for a hundred miles or more on trips to Scotland etc

 

[DavePrentice]

Depreciation

Six years ago, I paid £600 for a K plate E200 with 94,00 on the clock. It never let me down apart from a water pump 2 years ago. It had to go just before xmas with 114000 on the clock It needed a new exhaust (£450) replacement front wings (£900) and a service, so wasnt really worth spending that money. A 'dealer' gave me £350 for it, so no complaints really.
Interestingly, he told me that it would probably be exported to Nigeria as there is a market for them over there..seems they love the old Mercs although not sure if that is true.
It was a lovely car and will be missed