What would you do?

[Bailes1992]

Yes, another one of these threads from me.
Thing is I've always looked at buying cars but never actually liked them. When I like a car I know it. It was more of a case of a car I can afford rather than wanting. Issue is I found a car I really like!

So I finally found a car I would be happy to replace the Mondeo with.
Car in question is a Volvo C30 with a 2.0 5 cylinder diesel engine. I've taken a few for test drives now and every one feels well built, is very happy on a motorway cruise and are reasonably economical.
I'd be after a 2011 model with 50-80k on the clock. Prices range from £10,000 to £12,000 depending on mileage. If I could find a high mileage (100k+) MY12 model for less than £12,000 I'd be even happier!
I have the cash around to buy it outright but with interest rates so low at the moment I can get a £8000 loan at 3.9% over 4 years with no early repayment charges and I do like to have money set to one side.


Thing is, as you all know I like my Mondeo. It does need money spending on it though, obvious after 146,000miles.
Mechanically it's sound and I would take it anywhere. It required nothing more than general maintenance and wear and tare items but the cost is starting to stack up.

First is it needs a full service and a set of wiper blades.
0w30 A5/B5 Shell Helix AS 6L - £57
Mann Oil Filter - £6.24
Sump Plug - £1.60
Mann Air Filter - £9.24
Mann Fuel Filter - £13.80
Castrol Syntrans 75w Gearbox Oil 2L - £20
Valeo Front Wiper Blades - £26.34
Valeo Rear Wiper Blade - £14.34

Total £148.56

Then there's a glowplug error that keeps rearing it's ugly head.
Bosch Glowplugs x4 - £37.44

The car is slow starting when it's cold.
Bosch Battery - £103.20

I have a weep from my rocker cover gasket.
FAI Gasket £6.60

My rear trailing arm bushes have separated from their outer ring and are groaning.
Lemforder Trailing Arm Bushes - £40
Tool to replace - £170 OR Garage Labor - £200
Bush replacement video...
https://www.youtube.com/watch?v=60DdPnm0mcQ

Total £505.80.
I could probably get this down a bit. I didn't use all my discounts and I'm sure the battery is cheaper in Halfords with my trade card. But it gives me an idea on what is needed to be spent on it to make it 100%.

There's also a clutch which after a few remaps and 146k has never been replaced.
A set of 'worn' injectors which I've been told could very well go on for another 146k.

So...
Do I spend £505.80 on a car I'm quite attached too, a car that a trust and should require very little money spending on it for another 12 month unless the clutch fails or is it time I just bit the bullet and changed my car?

My head tells me there's no reason why with a bit of money spent here and there the car couldn't last another 6 years and do another 146,000miles reliably. I've owned 10-12 year old cars before, why can't I do it again?

But I do really like the Volvo C30 and the awesome 5 pot warble!

[trufflehunt]

A 3 years old car is not an asset, it's a depreciating liability, and it's really dumb
to borrow money to pay for one.

And even dumber to justify doing so by saying that you like the feel of a largish wad in your back pocket.

That £12,000 could be doing something really useful.

I'd dump the Mondeo right away.
I'd use what that brings in, plus £2k or max £3K of your wad to buy something that was quality built,
and intended to last, in the first place.

[steve_earwig]

Oooh, don't pull any punches He's right though, 12 grand is a lot to spunk on a car that's still on the steep bit of its devaluation curve and you did just buy a house. However...

buy something that was quality built,
and intended to last

Suggestions? I will be taking notes...

[FarmerPug]

£12k is a lot to spend on a car that will depreciate, but i suppose you do end up with a young car thats economical.
There are plenty of very good cars with plenty of life in them at £5000. The spare change could be spent on a weekend toy like an old Jag or BMW.

[Captain Jack]

Last year, I bought a 6 year old Peugeot 407 twin turbo 2.2L HDI with 51k on the clock with every possible extra for a mere £5000. THAT is a bargain... not a C30 for £12k!

Honestly, Sam... Spend your money on something else. Like a bigger house. Or improvements to your current one. That won't depreciate.

I get that you *want* a new car but there really are more important things in life. (Wedding, kids...it costs far more than £12k, so start saving)

[rwb]

I too get that you want the Volvo. I wanted my 407; there was nothing wrong with my 406. But don't pretend that you need it or that there's anything unusually wrong with the Mondeo. Be clear about why you're buying it.

Last year, I bought a 6 year old Peugeot 407 twin turbo 2.2L HDI with 51k on the clock with every possible extra for a mere £5000. THAT is a bargain... not a C30 for £12k!

Honestly, Sam... Spend your money on something else. Like a bigger house. Or improvements to your current one. That won't depreciate.

I get that you *want* a new car but there really are more important things in life. (Wedding, kids...it costs far more than £12k, so start saving)

Ditto, except 7 years old, 74k, and £4200. (And no seat memory.)

Or start a pension.

Forget about the £150 for a service because no car doesn't need servicing. Therefore that's not a mark against the Mondeo.

Glowplugs are also consumables.

How slow to start? That sounds like an expensive battery.

So it needs some maintenance. That really sholdn't be a surprise. On the 407 I've had the clutch and flywheel done (it was expected but it's unfortunate tht it needed doing in the first 12 months), an ABS sensor, an air-con re-gas, and a set of tyres. None of this is a reason to dump it for something that costs 3 times as much and will still need maintaining.

[Bailes1992]

A 3 years old car is not an asset, it's a depreciating liability, and it's really dumb
to borrow money to pay for one.
I'd dump the Mondeo right away.
I'd use what that brings in, plus £2k or max £3K of your wad to buy something that was quality built,
and intended to last, in the first place.

I never consider a car an asset. Any money I spent buying, maintaining and modifying a car is written off. Anything I get back at the end is a bonus.
A car isn't a tool to me. A car is much more. I have no other interest these days bar cars. I don't spend money on a car to worry about how much it's going to be worth 4-5 years down the line.

What would you 'dump' the Mondeo? It's been a good, reliable car. The interior has a fair few rattles that need sorting but there's nothing major wrong with the Mondeo. Everything I've listed is general wear and tear items and maintenance?
I've done 50,000miles in 2.5 years in the Mondeo and it has never put a foot wrong. It has gone wrong but usually down to me messing something up... or my missus taking it through a Ford and destroying the alternator.

What would you consider 'quality built' and 'made to last' because everything in the last 10 years has been made to a price. Weather it be a Hyundai or a BMW.

£12k is a lot to spend on a car that will depreciate, but i suppose you do end up with a young car thats economical.
There are plenty of very good cars with plenty of life in them at £5000. The spare change could be spent on a weekend toy like an old Jag or BMW.

That's true but I'd end up with a 10 year old Jag or BMW and I couldn't spend money to end up with an older car. That's ludicrous.
20-30k per year in a 10 year old car? No thanks.

Last year, I bought a 6 year old Peugeot 407 twin turbo 2.2L HDI with 51k on the clock with every possible extra for a mere £5000. THAT is a bargain... not a C30 for £12k!

Honestly, Sam... Spend your money on something else. Like a bigger house. Or improvements to your current one. That won't depreciate.

I get that you *want* a new car but there really are more important things in life. (Wedding, kids...it costs far more than £12k, so start saving)

I only paid £5400 for my Mondeo at 3 years old with 97k on the clock. That was an absolute bargain. Especially considering I have the original sales receipt for £29,700!

I'm not moving for a long time yet, I may even stay here and extend.

But yes, you're all right. £12k is a lot to spend on a car. Even £10k.

Another option is to go for the larger V50. A 2011 model with around 80k on the clock is actually around £2,500 cheaper than a C30.

I wouldn't begrudge spending the £500 or so on the Mondeo as long as I'm in the frame of mind to keep it. I don't want to spend that money to part-ex it 6 months later.

[Rolebama]

I would be inclined to spend the money and get the Mondeo sorted. It will last another few years, and it will give you breathing space to save a bit. Regardless of how old a used car is, I think we all know that there is a possibility it could turn into a money pit during the first few months of ownership, so it could cost you a lot more than the initial spend.
Also, with a list of parts fitted to the Mondeo, if you decided to sell it, it would improve the asking price.

[Captain Jack]

No-one buys new cars these days, do they? They are all either leased or on an HPI deal, which allows them to have a new car every 3 years. Makes sense, but it's an ongoing expense.

[Welly]

I think you spend too much on servicing the mondy, too many oil changes etc. it's clearly a good car in its own right so why not just use it now and take the mileage further. High mileage cars are strangely satisfying especially when they are all paid for. You'll only have maintenance to pay which shouldn't be too bad really.

I think now that people buy cars out of want rather than outright need. If you sold the mondy for, say, £2,000.00 ?? someone will get a mega bargain and benefit from all your hard work.

I hate the general new car buying ethos, buying in to this culture of image and keeping up with the Jones's - all bullshit. I could be* the richest man in my street but no-one would think so in my 10 year old car.

*I am the richest* man in my street

*rich as in I like life and people not 'things'.

Be wise with your money Bailes, a car doth not maketh a happy man.

[Bailes1992]

No-one buys new cars these days, do they? They are all either leased or on an HPI deal, which allows them to have a new car every 3 years. Makes sense, but it's an ongoing expense.

I think some people still do.
My Mother is planning to buy a new car every three years without spending more than £200/month.
She bought a Fiat Panda using only my D8 as a deposit. Then after 3 years of £200 a month she got £3500 for the car allowing her to buy her £11k Suzuki Jimmy for £200/month. In 3 years time the Jimmy will still be worth £5 -6k and will be used as the deposit for her next car etc.
If she carries on then in 6 years time she'll be having £20k cars and still only spending £200/month.

My Father on the other hand leases his cars over 4 years. The lease includes insurance, maintenance, breakdown cover etc etc. The monthly payments are ludicrous but because he doesn't have a company car he gets an allowance instead. The allowance plus the money he has to put towards it himself is still leaving him better off than having a company car!

I think you spend too much on servicing the mondy, too many oil changes etc. it's clearly a good car in its own right so why not just use it now and take the mileage further. High mileage cars are strangely satisfying especially when they are all paid for. You'll only have maintenance to pay which shouldn't be too bad really.

I only service it to Fords recommendations.
Service intervals every 12k. Every other service gets a full filter change.
I just change the oil between services at 6k/6 months. When I first got the car I left it 12k before servicing it and sent a sample of the oil off to be analysed. It cost me £60 and what you get back is a sheet showing what the oil contained and a viscosity at 100c. You also get a written description of what was found in more basic terms and advice for future oil changes.
Essentially what I got back was the oil was long past its best and dirty. It was also much thinner than it should have been. I was recommended to half my oil change intervals. So I did!
Winter my oil changes are more expensive as I use a 0w30 A5/B5 oil. The rest of the year they cost no more than £40-£45 using a 5w30 or 5w40 fully synthetic A3/B4 or A5/B5 oil.

I do quite like having a high mileage car. It is a bit of a show off point. Especially to the people who when I first bought the car on 97k told me it would be knackered in 12 months time and I'd be forking out thousands upon thousands on it.

Had a reasonable chat with the other half yesterday and she said for me to wait at least until I get my pay rise September next year. Which is a fair comment as I'll be bringing home am extra £120/week.
We also decided we may change her car next year. She did mention a Clio 172/182 but I think a Fiesta ST would be a better car.

[Rolebama]

For many years I ran the oldest car in the area. I had a carb and a set of points and the only electronics were in the radio/cd. I know it upset some of the neighbours to see my older car sitting outside, yet it was probably the best-maintained car in the area. What really got to them though, was that it would always start, and I could get up the ice-covered incline to park in the winter.

[Welly]

Then after 3 years of £200 a month she got £3500 for the car allowing her to buy her £11k Suzuki Jimmy for £200/month. In 3 years time the Jimmy will still be worth £5 -6k and will be used as the deposit for her next car etc.
If she carries on then in 6 years time she'll be having £20k cars and still only spending £200/month.

That is the way to do it to be fair. I started with this intention when I bought the Volvo as it should have been worth £4.5K after the 3rd year but finances took a turn for the worse and I couldn't justify spending £200/month when I still had a really decent car outside. Then it was nice to have a 'free' car that could still more than hold its own out there. My Uncle used to work for Ford and bought a brand-new car every 9 Months; the 35%? discount would even out by then and the 'new' car would cost him about £900 per year in real terms, still having said that he *really* likes my car and always asks about it...he walks around it scratching his head as he can believe its 10 years old

[trufflehunt]

Then after 3 years of £200 a month she got £3500 for the car allowing her to buy her £11k Suzuki Jimmy for £200/month. In 3 years time the Jimmy will still be worth £5 -6k and will be used as the deposit for her next car etc.
If she carries on then in 6 years time she'll be having £20k cars and still only spending £200/month.

That is the way to do it to be fair.

To me, it looks more like a lifestyle choice. The apparent financial advantages are an illusion.

[Welly]

New cars suit different people in different ways, I think Bailes' Mum is a district nurse so will need a car that is newish. The funny thing is sometimes people expect you to have a new car; imagine if your financial advisor turned up at your home in an M-reg Mondeo with missing wheel trims and a Gaffa-taped bumper....it'll hardly fill you with confidence.

Bailes Mum is the same; if she turned up in a filthy beat-up Corsa to give you an injection...

For the rest of us it comes down to want and finances, if there's always money available each month and you're not going to struggle then a new car can be within reach. Vanity does play a big part in all of this, notice how many young women are driving brand new BMW 1's, they most likely still live at home and just pay the lease out of their wages where £200/300 a month isn't too bad for them.....course they should be saving for a house deposit but that would take flipping years at the moment until affordable properties become the norm.