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Wrench
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PostSubject: A few thoughts   Tue Feb 05, 2013 2:55 pm

We see on the forum 'What exactly is Bangernomics' Good question and perhaps a matter of interpretation? Is Bangernomics buying a car for say 500-1000 with or without mot and tax and keeping it for about a year and then selling it on? Or could Bangernomics be buying a car for say 2000-3000 and keeping it for around 10 years? I have given this a great deal of thought and I think that maybe both have their merits. Buying a car and for 500 and seeing it after a year can be a very expensive way of driving against buying one for 3000 and keeping it for 10 years which calculates to 300 per year, then we could also look at the depreciation of older cars for example.. Say you buy a car for 800 it could be 1997 VOLKSWAGEN GOLF GL TDI GREEN Full VR6 leather interior lowered 17 alloys which will depreciate albeit it slowly because of the nature of this particular car. Price: 800.00

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Now lets now look at something like this FORD CAPRI 1979 2.0 (1.6) GL - DAYTONA YELLOW EVERYDAY CLASSIC CAR Price:
2,050

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Now to me, it's obvious which is going to be the better buy. Now lets consider what Bangernomics was/is about? Originally the figure would have been set at around 500 which was many years a go but as with everything there is inflation which we must take into account, so 500 should now be a lot higher to reflect inflation so are we aiming to low in order to get that bargain? although there are still bargains at 500 or less but are they the bargain we think? does paying this little mean we will be spending a lot more on it to keep it on the road? not always I would have to say; but exactly how long would we expect to keep a 500 car on the road before we say 'Its paid for itself' I do know of people who have paid 500 or less for a car and had many years of trouble free driving but sadly this isn't always the case.

We could also look at something like this 1962 Hilman Super Minx Price: 2,200.00

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Which isn't what most of us would put into the class of a banger? but looking at the price it certainly falls within the higher price bracket taking into account inflation and its not going to depreciate there is no road tax to be paid and the classic insurance will be much lower than a more modern car, so is this a Bangernomics car?


I'm not sure about what is right and what is wrong but is there a right or wrong when buying a banger? I guess its horses for courses and what you can afford at the time but there are still questions that remain illusive to me which are... How much would I expect from a 500-1000 car and would I be better off buying one at 2000-3000.

What's your thoughts on this? Busy
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macp
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PostSubject: Re: A few thoughts   Tue Feb 05, 2013 5:58 pm

Excellent thread

This maybe something & nothing but I bought a top of the range Audi A3 1.8T sport for 2k then ended up spending another grand on it. Before that I bought a 1500 pound Volvo and never spent a penny on it.
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Wrench
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PostSubject: Re: A few thoughts   Tue Feb 05, 2013 6:03 pm

macp this just shows that there are no real rules and in some cases you can do really well by spending little but then again spend a little more and get a better deal but as in your case it doesn't always work that way. I would always go for a Volvo so its no surprise to me that you got a bargain. :CP:
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PostSubject: Re: A few thoughts   Tue Feb 05, 2013 7:04 pm

Ive done it both ways, bought a 10 year old Merc estate for 3000 kept it for 6 years and then swapped it with my dad for a series 3 land rover which i went off roading in for a year. My dad had the merc for another 5 years, and sold it to another chap who still has it as far as we can tell!

I paid 775 for my mondeo and have had it coming up to 3 years, ive had a new clutch recently :Cr:
but other than that a 15 coil pack and servicing which I have a mate do for peanuts. Tyres are winter continentals from ebay 100 the set run em for 5 months Nov to March then onto some part worns with 5-6mm of tread goodyear i think 60 the set, keeps me going all year, and i don't miss oil changes and brake maintanence annually.

Cheaper for longer is good!

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PostSubject: Re: A few thoughts   Thu Feb 07, 2013 9:05 am

I had this discussion with the thread on retro rides
It horses for courses
I set the example of my Old dear,
she has the resources now to get a decent 2 year old motor to potter about in
she is of the age, she doesnt want to fiddle about with cars,
just turn and go
Like a few folk who have no interest in what a car is or does, or what it looks like
just a tool to move them about
The rest of the sane population, do what we do
I brought a 1996 beemer 7 series 2 years ago, with the original invoice
for 55000
I got it for 700, now that is biding your time cheers
still did everything that it did when it cost 55 grand
that is bangernomics!!! wait and wait,
you will get it in the end
This may not apply for the Bugatti Veyron mind!!! No
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ventorafred
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PostSubject: Re: A few thoughts   Thu Feb 07, 2013 11:29 am

Just before I go to bed (work nights)
There is a huge majority of folk who (Im guessing been said before)
feel the need to keep up with (The Jones)
I know I work with a fair few of em,
Runs in a wave, One guy buys a new car, and much gossiping later another new car appears,
then another,and the wave continues, I just shake my head
and open up my custom car mag Clap
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badshot
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PostSubject: Re: A few thoughts   Thu Feb 07, 2013 4:41 pm

ventorafred wrote:
Just before I go to bed (work nights)
There is a huge majority of folk who (Im guessing been said before)
feel the need to keep up with (The Jones)
I know I work with a fair few of em,
Runs in a wave, One guy buys a new car, and much gossiping later another new car appears,
then another,and the wave continues, I just shake my head
and open up my custom car mag Clap

Id love that much credit wrapped round me Headbang

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