Do I buy a car after not owning one for nearly seven years

Gredawarha · 9 Jan 2018 at 12:49

Hello all

Bit of back story to explain the thread. I am 38 years old and until about seven years ago had owned a car since 17. I've done the early years buying cheap and chearful, I've done the somewhat boy racer car and I ahve also done the more relaxed speedy super curiser BMW.

In 2011 our son was born and we got rid of my BMW going down to owning one car. Since then it has been convenient and rarely has owning only one car been a problem.

Whilst I still like sporty cars and like most red blooded male the sight of a sports car appeals however in the past seven years I have come to think of cars as more of a luxury and there is a big part of me that does not want to own another car.

However. Situations are changing and I am going to have to get the train to work. A monthly ticket will cost me £214 per month and I am pretty certain that I am not going to be able to obtain a car that is reasonably reliable and can be bought taxed, insured and run for a comparable monthly cost but I am happy to be proved otherwise which is why I thought I would post in this forum.

In terms of my use any new car would probably do around 10k miles per year. 10k to 15k per year. I have no interest in how fast it goes, what it looks like or how it drives. It will literally be used for getting to work 90% of the time, the other 10% would be odd trips as and when. It does not need to be a particularly big car either.

So challenge is can I get a car that beats or competes with the train ticket price and get over my hesitation to own a car again.

Thanks for reading.

Darren

Scania · 9 Jan 2018 at 12:55

Does a car give you more freedom than a train?

If yes, then buy one.

Gredawarha · 9 Jan 2018 at 13:01

Scania said:
Does a car give you more freedom than a train?

If yes, then buy one.

Hello

Well the simplest answer is yes the car provides more freedom (I think that would be the case almost 100% of the time) however "freedom" is only one consideration in my thought process, in the past seven years I can probably count on one hand the number of times not having an extra car has been a problem. If there is a realistic option out there that is near in monthly cost to the train I will consider it but cost is my main consideration at the moment.

Mercenary Keyboard Warrior · 9 Jan 2018 at 13:01

Its hard to say if you can definately run a car for £214 a month, the biggest variables will be fuel and insurance.
If they are reasonable then yes you should be able to run something pretty reliable for that sort of money

It wont be new, or flash or fast.
Your biggest issue is going to be buying outright vs lease/PCP and making sure your normal monthly outgoings keep a bit in reserve.

Your going to be budget motoring though and with the permanent risks of doing so. What comes with that more than anything is the risk of hastle, ie breaking down, not starting etc

Gredawarha · 9 Jan 2018 at 13:06

Mercenary Keyboard Warrior said:
Its hard to say if you can definately run a car for £214 a month, the biggest variables will be fuel and insurance.
If they are reasonable then yes you should be able to run something pretty reliable for that sort of money

It wont be new, or flash or fast.
Your biggest issue is going to be buying outright vs lease/PCP and making sure your normal monthly outgoings keep a bit in reserve.

Your going to be budget motoring though and with the permanent risks of doing so. What comes with that more than anything is the risk of hastle, ie breaking down, not starting etc

Thanks.

You have kind of prety much outlined what I suspected or thought.

Been looking online and found an autoexpress articel in which the Dacia Sandero was the cheapest and seemed to suggest a total cost of ownership, three years, 30k miles working out at £204 but when I then looked on the Dacia website it was quickly clear that you then need to add on petrol, tax and insurance which is going to take it over the cost of the train ticket. I think the petrol alone would take it over.

I think whilst an extra car would be convenient it is probable that it will cost me more than the train ticket and the train ticket is a relatively fixed cost with no sudden unexpected costs to consider.

Semple · 9 Jan 2018 at 13:07

Also if buying outright, you need to look at long term costs of owning vs train. That £214 a month works out to be ~2500 a year. So 4 years works out to be 10k on the train.

The car purchase will take most of the 10k, but factor in insurance and fuel costs for the 4 years and see where you're at.

The train is likely to be cheaper for the first few years as this offsets buying the car, but long term should claw back costs.

Edit:

Gredawarha said:
the train ticket is a relatively fixed cost with no sudden unexpected costs to consider.

Apart from an almost guaranteed yearly price increase

Gredawarha · 9 Jan 2018 at 13:16

Semple said:
Also if buying outright, you need to look at long term costs of owning vs train. That £214 a month works out to be ~2500 a year. So 4 years works out to be 10k on the train.

The car purchase will take most of the 10k, but factor in insurance and fuel costs for the 4 years and see where you're at.

The train is likely to be cheaper for the first few years as this offsets buying the car, but long term should claw back costs.

Edit:

Apart from an almost guaranteed yearly price increase

Thanks good points.

Yes the cost of trains is very current, considering the latest fare increases.

I'm currently using the bus as a commuting option which has worked out pretty well, it's considerably cheaper than the train, about £86 per month however following a months test it's not viable as I'm loosing time at work , we run a flexible working hours so it was fine as a test but not viable long term.

the_r_sole · 9 Jan 2018 at 13:33

Do you have free parking at work too? What's the round trip distance?

SC0TTRS · 9 Jan 2018 at 13:35

Some what similar situation as you Darren, commute to work via the train and debated about keeping my car as it doesn't get used much nowadays.

My monthly isn't has high as yours (£148) so the train ticket wins over the using the car (car couldn't beat £7.40 a day commute) but I still have the car for the weekends and occasional use after work in the evenings, but we use the missus car most of the time (more practical as I drive a mk1 TT).

Still need to feed that heavy right foot ;-)

Gredawarha · 9 Jan 2018 at 13:41

the_r_sole said:
Do you have free parking at work too? What's the round trip distance?

Hello. Round trip is approximately 40 miles.

The parking question is a little longer to answer.

I am entitled to a parking space as it's part of my role. However my partner also works in the same office. We work in the same building but she works shorter hours to take and collect our son to and from school. Were I to get another car she will have to use the local park and ride which adds another cost a she won't be happy!

Some might say that ends the debate but I haven't fully given up wearing the trousers just to yet

Gredawarha · 9 Jan 2018 at 13:43

SC0TTRS said:
Some what similar situation as you Darren, commute to work via the train and debated about keeping my car as it doesn't get used much nowadays.

My monthly isn't has high as yours (£148) so the train ticket wins over the using the car (car couldn't beat £7.40 a day commute) but I still have the car for the weekends and occasional use after work in the evenings, but we use the missus car most of the time (more practical as I drive a mk1 TT).

Still need to feed that heavy right foot

I can imagine giving the TT up would be hard.

I did a track day recently, an AMG Mercedes and I'd forgotten how much fun fast cars can be.

Kiethton · 9 Jan 2018 at 14:14

If it's only 40 miles a day and you have off street parking at home I'd be looking at a used Nissan Leaf.

£0 tax
£1 a day in electricity to do the journey (free if your work has chargers)
£250 to insure
£5,000 to buy at a few years old

They're pretty reliable too!

Gredawarha · 9 Jan 2018 at 14:20

Kiethton said:
If it's only 40 miles a day and you have off street parking at home I'd be looking at a used Nissan Leaf.

£0 tax
£1 a day in electricity to do the journey (free if your work has chargers)
£250 to insure
£5,000 to buy at a few years old

They're pretty reliable too!

Hello

I have to confess I'm intrigued by the relatively recent electrical cars and solar/battery technology. I've been watching Robert Llewellyn's YouTube show "Fully Charged".

I'd not thought of a used EV though.

Kiethton · 9 Jan 2018 at 14:30

Gredawarha said:
Hello

I have to confess I'm intrigued by the relatively recent electrical cars and solar/battery technology. I've been watching Robert Llewellyn's YouTube show "Fully Charged".

I'd not thought of a used EV though.

Fair, I'd give them a look, especially if it's for "white goods" motoring and seeing as your total daily mileage is comfortably within the range, allowing for winter drains & battery degradation.

With there being far fewer moving parts and and more plastic panels they should be a better used buy (battery condition notwithstanding). Think there is a northern minicab firm that uses a fleet of them - reliable without any fuel/tax costs. Should be comfortably under £200pm as a result, even allowing for 20% pa depreciation.

Gredawarha · 9 Jan 2018 at 14:35

Kiethton said:
Fair, I'd give them a look, especially if it's for "white goods" motoring and seeing as your total daily mileage is comfortably within the range, allowing for winter drains & battery degradation.

With there being far fewer moving parts and and more plastic panels they should be a better used buy (battery condition notwithstanding). Think there is a northern minicab firm that uses a fleet of them - reliable without any fuel/tax costs. Should be comfortably under £200pm as a result, even allowing for 20% pa depreciation.

Work has a recent pair of fully electrical cars so hypothetically there is the ability to recharge at work.

Semple · 9 Jan 2018 at 14:38

SC0TTRS said:
ours (£148) so the train ticket wins over the using the car (car couldn't beat £7.40 a day commute)

It's interesting to see the daily comparison cost, and also goes to show how expensive some train journeys can be.

My commute is 44 miles by car, i'm averaging 8.5p/mile in my car. So the fuel costs there and back are about £7.50. If i were to travel by train the peak ticket is about £20 return (Off-peak would mean not getting to the office until at least 10:30).

cheesyboy · 9 Jan 2018 at 14:43

I bought a car (as a 2nd car in the family) for 10k/year miles. 90% work commute, 10% 'leisure' (only when Mrs Cheesyboy is using the main family car)

£2,500 for a 10-year old diesel Polo. It wasn't a bargain (£2.5k seemed steep, albeit it was market price), but it's worked out well - 6 years later I've only had to pay for an alternator, a clutch, a couple rear calipers and then brakes, tyres, lights etc.

£120 ish tax, £113 to £180 insurance (varies), ~55mpg, so has probably cost me about £11,000 all in over the 6 years (including full-value depreciation). That's £150/month.

Not a whole lot of wriggle room there to keep below £214/month cost in the OP for a train, but doable.

tom_nieto · 9 Jan 2018 at 15:01

It really depends on how terrible your train commute is. If your working hours are relatively fixed (i.e. no long over runs and fixed start time) then you can work with the train schedule quite easily. If you get on near the beginning of the line and can get a seat every day this also is a massive plus and you can either do work or just veg out and watch Netflix. If you are sat on a single train rather than changing and also live close to the station you're on to a winner. A public transport commute in my mind is always preferable to driving if the above criteria are met, even if it takes a few minutes longer. You could in theory run a car for your budget, but it's probably more hassle for minimal benefit in your case don't you think?

Gredawarha · 10 Jan 2018 at 12:36

tom_nieto said:
It really depends on how terrible your train commute is. If your working hours are relatively fixed (i.e. no long over runs and fixed start time) then you can work with the train schedule quite easily. If you get on near the beginning of the line and can get a seat every day this also is a massive plus and you can either do work or just veg out and watch Netflix. If you are sat on a single train rather than changing and also live close to the station you're on to a winner. A public transport commute in my mind is always preferable to driving if the above criteria are met, even if it takes a few minutes longer. You could in theory run a car for your budget, but it's probably more hassle for minimal benefit in your case don't you think?

Liphook to Guildford on the Portsmouth to London route. Can be busy. Got the 06:52 this morning and was busy but found a seat. In the process of moving, currently on the long wait to exchange but once we have moved will be a twenty minute walk to the railway station. My working hours are effectively office bases but we run a flexible working scheme so will often travel in early to miss some of the commute.

It worked out pretty well this morning, I expect the train home to be similar.

McPhee · 10 Jan 2018 at 14:13

If you want to drive the route, a used Nissan Leaf bought on PCP from a main dealer is probably the best option. Should work out at under £200/month counting everything (the car, insurance, fuel).

You could also spend £2k-£3k on an old petrol/diesel car and come out under £200/month, all costs accounted for. But it'll be an older (probably smaller) car, and relatively basic compared to the Leaf.

If the train is convenient, it's maybe the best option to be honest. Depends if you think you'd benefit from having another car, outside of the commute. If you would, then there's value in that, on top of the modest cash saving.

If you've got any questions on the Leaf, fire away. I got mine a week ago.