Cars are going to be the next bubble

[Jimmy the Jock]

If you lease a car then be prepared to lease cars for the rest of your life.

I buy a car from new, keep it for 12 years and have 9 years of not having to pay any loan fees or anything else. Never understand why people change perfectly good cars just because they are a bit old, or have as many as 40,000 miles on the clock. My Golf, bought in 2006. 14 years old, 178,000 on the clock. I finished paying for it in 2009. Yes, it is starting to rattle, yes it has knocks and dents, but it gets me from a to b. Drove around Europe in it last August.

That principle works as long as you maintain the car well and it doesn't have any major mechanical issues .
I rent cars on a long term basis to ordinary people , who like you ,have kept their cars longer than they should have .
The cars have had major mechanical issues , which they have repaired and decided to keep the cars a little longer " to get their money back " this has led to further major issues and they will never get their money back .
Modern cars are so complex electrical issues can run into thousands ( I also run a repair workshops) Believe me you can soon be in the position where the repair bill way exceeds the value of the car .
A nice shiny new car for £2-300 a month with no worries as Nick stated seems like a dream after the pain of massive repair bills for a car that is worthless .

Don't get me wrong it's horses for courses .

Sounds like you have been fairly lucky , you don't do many miles despite your trip round Europe.

I have 2 Audi estates we use for courtesy cars , both drive well and customers often comment on how well they drive with their 285,000 and 330,000 miles respectively . Thing is , if they do go wrong ... I own a garage to fix them ...

[Allez Allez Allez]

who like you ,have kept their cars longer than they should have .

When should I have changed my car then? Just after I finished paying for it? When it got to 100,000 miles? When it passed yet another MOT without even an advisory? What is it about my car that means I have kept it for too long?

People are being duped to stay in perpetual debt to finance companies purely to keep the car industry alive. More fool them.

[Jimmy the Jock]

When should I have changed my car then? Just after I finished paying for it? When it got to 100,000 miles? When it passed yet another MOT without even an advisory? What is it about my car that means I have kept it for too long?

People are being duped to stay in perpetual debt to finance companies purely to keep the car industry alive. More fool them.

Perhaps I could have left the "like you" bit out.

It works for you and thats great, it wont always , unfortunately.

You have kept it too long when it fails and you spend a a fair bit getting it fixed and try to recoup that money and it fails again.
It isnt duping anyone , its a fact it happens .
I would hate everyone to go contract hire . There would be no market for my used contract hire vehicles ....

[valleys caveman]

Perhaps I could have left the "like you" bit out.

It works for you and thats great, it wont always , unfortunately.

You have kept it too long when it fails and you spend a a fair bit getting it fixed and try to recoup that money and it fails again.
It isnt duping anyone , its a fact it happens .
I would hate everyone to go contract hire . There would be no market for my used contract hire vehicles ....

What have you got for sale Jim?

[Jimmy the Jock]

What have you got for sale Jim?

2 year old Fiat Doblo.

Got an automatic diesel 3 year old Kia Sportage coming in with around 30k on it next month.

Are you looking for anything in particular?

Have you still got your mini Gavin?

[valleys caveman]

2 year old Fiat Doblo.

Got an automatic diesel 3 year old Kia Sportage coming in with around 30k on it next month.

Are you looking for anything in particular?

Have you still got your mini Gavin?

I'm after a 5 series, manual, petrol for under 10k. Hard work finding one. Loads of diesels about, but no good to me with the DPF as I only do short journeys.
Yeah still got the Mini, Jim. It's been parked up in the garage for 6 years. I keep saying I'll get it out and put an MOT on it every summer but never get round to it

[Allez Allez Allez]

Perhaps I could have left the "like you" bit out.

It works for you and thats great, it wont always , unfortunately.

You have kept it too long when it fails and you spend a a fair bit getting it fixed and try to recoup that money and it fails again.
It isnt duping anyone , its a fact it happens .
I would hate everyone to go contract hire . There would be no market for my used contract hire vehicles ....

Fair enough and the minute the car starts costing me money, regularly, or I jump into it in a morning with fingers crossed that it actually starts - that is when I will change it.

My mileage is going down now, so the chances are my next car will be a used car rather than new.

As for electric, I really want to go electric but it isn't quite there yet. £33,000 for a Kia something is the cheapest I can find. That is too much for a car - but the prices will drop by 2035. Either that, or the Government are going to face an almighty backlash in 2035 when a new £20,000 car is replaced by a £33,000 version that has a battery that will die in 7 years. I'm confident it won't be like that.

[delmbox]

That principle works as long as you maintain the car well and it doesn't have any major mechanical issues .
I rent cars on a long term basis to ordinary people , who like you ,have kept their cars longer than they should have .
The cars have had major mechanical issues , which they have repaired and decided to keep the cars a little longer " to get their money back " this has led to further major issues and they will never get their money back .
Modern cars are so complex electrical issues can run into thousands ( I also run a repair workshops) Believe me you can soon be in the position where the repair bill way exceeds the value of the car .
A nice shiny new car for £2-300 a month with no worries as Nick stated seems like a dream after the pain of massive repair bills for a car that is worthless .

Don't get me wrong it's horses for courses .

Sounds like you have been fairly lucky , you don't do many miles despite your trip round Europe.

I have 2 Audi estates we use for courtesy cars , both drive well and customers often comment on how well they drive with their 285,000 and 330,000 miles respectively . Thing is , if they do go wrong ... I own a garage to fix them ...

I have driven both these Audi's if anybody gives a shit