We’re currenly looking to buy a new car. We are a one car family and have been so for nearly 20 years. Now the Other Half works from home, it’s easier to organise who (if anyone) needs the car but we’ve never really needed 2 cars.
We tend only to buy a new car when its absolutely necessary, driving them until they fall apart (or in one case was written off when the OH hit a dustbin lorry – the lorry was fine). To date we’ve always bought second hand, between 3 and 5 years old so that the worst of the depreciation has already taken place.
Our current car, a 12 year old Mercedes estate, still drives nicely, but the rusting bodywork will not be cost effective to fix. We also looked at the fuel consumption compared with a newer vehicle and realised we could be saving around £700 a year on our current mileage.
We bought our last car with a bank loan – not very frugal. It felt like quite a big drain on the finances at the time, and I was glad when we managed to pay it off early. This time round I’m hoping we can finance the car from savings – fingers crossed.
We’ve been round a number of garages today and have narrowed our shortlist down to 2 models (or 3, if I can persuade OH to look at Volvos!). We’re going for an estate again as not only do we go camping regularly, but we’ve also got at least another 5 years of taking children and their ‘stuff’ to and from university. Watch this space and I’ll let you know how we get on.
How long do you keep your car? Do you try and keep it going as long as possible?
Until next time, Tawney x