Most cost effective way of buying and owning a car.

[Sortumn]

We've always followed the model our grandparents and parents used for car owning which was to buy a slightly used car and keep it until it becomes unreliable or beyond economic repair. However we might have to rethink that as cars seem to have changed.

Eg. I owned one car for 16 years, costing me only servicing, brakes and tyres and we let it go when it needed welding. Purchase cost per year eventually worked out at £687.50.
Since that car we've got a much newer car that at 8 years old developed an electrical/computer fault that no one seems capable of fixing and we're about to scrap it. Such a waste as it is mechanically sound. It feels like we've hardly owned it two minutes.

I'm wondering if with all the electrical bells and whistles and eco attic that' are now added to cars, they just don't last as long.

We're wondering if we should be scrapping our old habits? And now be letting go of cars while there's a lot of value still in them, but I really would hate making car decisions every few years..... Or is there an alternative? Old bangers with less electrical stuff to go wrong? Lease cars?

What is everyone's expectation of cars longevity these days? (that makes me sound old) And do you have a system that works?

@MageQueen

French cars have zero longevity.

We've had a succession of "French" cars and never had problems with longevity.

First one lasted to 195,000 miles (Peugeot reg 1991)
Another (which we still have) is 17 years old and still going strong (Citroen reg 2008)
In between, we've had three Renaults (08,59 and 15), another Peugeot (1999) and another Citroen (2024)

Before that we had Fords and Vauxhalls which were absolute crap.

My approach has been the same as yours OP. My last two cars I’ve owned for 10 years and then 13 years until they started costing a lot in repair bills and I knew it was time to change.

Ive recently traded in my trusty VW for another VW beetle. So not upgraded in terms of age/extras that now come as standard but I’ve always wanted a beetle, it was there on the forecourt and any level headed reasoning went out the window!

We've bought new (cash) ever since 1991. Before then I started with an old banger, but saved a monthly amount which enabled me to trade up a few years after 2 years, and rinse & repeat a few times until my monthly savings plus trade in enable me to buy new. Ever since, we still put a monthly amount in savings (similar to what we'd pay for 2 car leases) and there's always been enough to replace with new when needed. Then we keep the new ones until they drop, which is typically 10-15 years. Currently we have a 24 plate and an 08 plate - we keep thinking it's time for the 08 to be scrapped and have enough in the bank to replace it with a brand new one, but it keeps sailing through the MOT so no reason to replace just yet!

I like a nice, nearly new car, happy to pay a fixed monthly amount that I can afford. I am going to pay off my current car and keep it though, I love it, the spec I've got is no longer available so wouldn't want to get a newer but less good version! Will likely keep for a good few years, German car so hopefully will last well

German car so hopefully will last well

Hollow laugh…

See if you get 100k miles out of it before it has a single failure, like the best of Japanese cars can..,

/lighthearted

We have an 11 year old convertible golf which has almost 100k on it and has just developed a suspicious clank. I’m hoping it will go away in its own.

DH last car was a ford focus which blew up when the cam belt went 10k miles before replacement schedule. It’s a known issue with 1l eco boost engines apparently. Would not touch another ford as a result.

Generally, I can’t think there is a better value way to run a car than buy it a bit second hand (2-3 years max) and run it to the ground over 9-10 years. I can absolutely see how leasing is more predictable and preferable though if you’re happier to pay a bit more over time.

The last car we bought was 3 years old 20k on the clock and SO unreliable, we sold it before it cost us a fortune but we lost a lot. We have leased for the first time, which has been lovely having a brand new car, and a really good deal (I don't know how we got it so cheap), but I feel sick with worry about the inspection when handing it back, someone hit it so I'll have that repaired but I'm still worried!

I have no idea what to do next so I'm watching with interest. Debating whether to buy one thats less than a year old, but theres no guarantees it will be sound. Cars are so expensive and they depreciate so quickly as we do around 12k per year. We don't have the cash for amazing brands, I was honestly thinking a Dacia 😬

My previous car, a Ford Focus, was 21 when I finally traded it in! And it had hardly ever given any trouble.

The earlier focus’s were better

Its the eco boom you want to avoid.

Having said that, my ex has a 2005 focus that’s had around 5 grand poured into it to keep it going. Exhaust, wheel bearings, windscreens, clutch, brakes and welding on the chassis…it’s on 90k miles.

Our Ford Focus has done 185,000 miles and has great boot size, however I’ve heard from my mechanic that the eco boost isn’t as reliable.

I think our next car will be a Honda on a £10K budget. We do around 13K miles a year so need something reliable.

I’ve always bought fairly new second hand and kept them for a few years, but the cost of second hand cars at the moment is unbelievable so I’m considering buying new.

My current car is six years old and I bought it almost new in lockdown with 1,000 miles on the clock. I paid £10k for it, and the identical model/age with twice as many miles on it are going today for £10.5k!

I always buy outright for cash. I'm on my second Honda Civic, will stick with Honda as they are excellent, garages and mechanics praise the quality. My first one I bought new, had it for 15 years and according to the gov MOT website it's still going( 04 reg). My current one I bought when it was 2 years old, it's 9 this year and I expect to keep it for at least another 5 years.

Son and DIL have a sports car for fun and a mild hybrid Honda Jazz for everyday, they love it and get over 80mpg so it's very economical.

Apparently there's no real market for second hand fully electric cars because the batteries only last less than ten years, that's one reason I'd never buy one.

My garage man went mad at me when I bought a Renault with one bell and a whistle! Basically all electric and to get to anything he had to take the whole front interior out...

Before that I'd pick up Cavaliers or something Ford off eBay, usually 350 quid, lasted years, cheap and easy to repair. I even sourced my own gearbox and had it delivered.

My first car was a Fiat - nightmares apparently too much wiring, too much to go wrong.
I did love my Hyundai however parts weren't easily sourced if you needed them.

I couldn't even jump start the Renault with a push as it was electric handbrake... Battery's dead!

This was many years ago.

...
I think they were Cavaliers. Big old things. I remember a student from over the road having same car, knocking one morning and saying that he had to let me know that his key had unlocked my car. He'd got in, adjusted seat and mirrors before he realised it wasn't his 🤣

I do this! Last car BMW was 4 years old when I bought it, £8k. Brilliant car! Scrapped recently after 15 years and bought a 5 year old Volvo ... hoping for a similar run with this car.
I like to buy quality reliable cars to hedge my bets a bit

@Lonelycrab is there a specific model or engine size of Civic you’d recommend? I’m currently leasing a 17 plate Nissan Micra for a negligible amount pcm, but the APR is crippling so I’m handing it back as soon as I can. Torn between a Honda and a Toyota Yaris - looking for reliability and longevity as top priorities. Only need something small.

Following with interest. Last year we got rid of a 18 year old Honda jazz (purchased cash brand new) and a 2012, and 9 years with us, Peugeot, that was starting to get pricey to fix and close to 100k on the clock.

We’ve replaced with a very basic leased electric car (feels inevitable that electric cars will be substantially better in four years time, and they are crazy £££ to buy outright) and a five year old, low mileage car bought for cash. So we’re like you, but have changed for this time round.

still haven’t worked out the cheapest way of doing this though. But cars - new and second hand - seem to be substantially more expensive than they were even 10 years ago as a proportion of a (good) household income.

Go Japanese. Toyota, Lexus & Honda are the best brands for reliability & durability. Buy at 2-3 years old, so the worst of the depreciation curve has already worked in your favour then run it until the wheels fall off.

I have a mk9 petrol 1.8 manual. 1.4 is underpowered and steer clear of the autos- more to go wrong. Diesels will have the usual dpf problems and apparently they eat clutches too, so 1.8 petrol seems to be the best re reliability. I get 41mpg so not great but not awful. They were made until around 2016 I think.

My Dm has a mk10 19 plate. 1.5 turbo engine- quite poky (quicker than mine) and again, probably the one to get over the 1.0 litre 3 cylinder which is underpowered. However, it’s physically a much bigger car, and lower too, so might not be best if you like a smaller car like I do. More refined though.

Either of these will likely survive a nuclear holocaust though.

my VW polo is 2014, but only 50k miles on. Looking at changing it next year and hoping it lasts until then!
probably going for a Kia 2022/2023 with a low mileage on it

My previous Fiesta was sold on with 240,000 miles on the clock . My current 05 Honda Civic has done 185,000 miles . Only major repair in 4 years has been welding the fuel tank . X

If you go to somewhere like Morocco then taxis are all old mercedes. Some have a hole in the floor here and there but all seem to drive well we have done numerous trips over the year's in them.

Were we sold a lie here ?
Re getting new cars all the time?

Curious.
If you start a PCP with, say, £10k with the rest in finance and a bubble payment, what have you ended up with.

Surely you just slip a little further back each time you change car?

This is certainly my experience. I’ve leased cars since 2012 for the simple reason that I bought a house, had no savings left and wasn’t in a position to take out a loan for a car. I was in significant negative equity with my previous car, hence only being able to afford the current naff (but reliable) Micra. Leasing has its plus points (low monthly payments in my case) but it’s not the best or necessarily cheapest way to motor.

We’ve had new cars on PCP for the last 15 years, often done the maths on buying nearly new and it’s always been the same or less monthly payment, so I don’t think it’s more expensive and we never pay any maintenance/repairs except for a service plan and new tyres. This is because of the optional final payment/guaranteed value which you don’t pay interest on, so usually the amount you are ‘borrowing’ is less than a used car. Typically the car will be worth more than the final payment at the end, and they will give you discounts etc to buy another new car, so you always have a similar amount to put forward on the next car (assuming it’s £3-4k, not £10k!).

We have typically had cars worth £25-35k which have been c£300 per month including annual service, but recently got a phev which is a bit more expensive, because our income is higher so we can easily afford it.

We had to get rid of my last car because it had nothing wrong with it apart from 'computer says no' and it would have cost a fortune to fix it.