Sub £1,000 motoring is the bottom end of the market, where funds are tight and good pickings slim. It can however be very rewarding though for the extreme Bangernomics devotee. Best if you’ve a bit of motoring knowledge but doable for those without.
Buying worthy cars for a few hundred quid means removing fashion or prestige from your mindset, your money will go further with cars that are unfashionable and unwanted. Forget anything flash or high performance, it’ll be a total money pit that much you can almost guarantee.
Stick with simple mass market models and be prepared to be flexible. A tidy Honda Accord could cost less to run than a tatty Fiesta despite being dearer to tax and fuel because it never costs you in repairs. Don’t go in with a fixed make, model or size of car in mind if you can, you need to be flexible.
I’m not going to break down a list of cars based on size as again you need more flexibility to get ultra cheap motoring right but here’s a wee list of cars I’ve sold and run at this end of the spectrum that’ve proven cost effective and reliable.
Ford Fiesta Mk V 1.25/1.4 petrol
Ford Focus Mk I 1.6 petrol
Ford Mondeo Mk III 1.8/2.0 petrol
Honda Jazz Mk I
Honda Civic 01-05
Honda Accord petrol
Kia Picanto
Mitsubishi Colt
Mitsubishi Carisma (avoid the GDi)
Mazda 3 petrol
Mazda 6 petrol
Toyota Yaris
Toyota Corolla
Toyota Avensis
Volvo S40/V40
Nissan Micra 1.0/1.2/1.4 petrol
Nissan Note petrol
Vauxhall Astra 1.4/1.6 petrol
It’s quite possible in fact to run a car for free or very near, well if you don’t include the fuel and road tax but the actual cost of the car itself. I’ve done it many times in the past.
Thinking of a good example I came up with an old family friend who comes to me for cars when required. She hates spending money on them and doesn’t go very far in it.
99-V Toyota Avensis 1.8 SE I bought myself for £1250 and sold after 3yrs to her for £850 then she ran it for just over a further 3yrs before scrapping. 6yrs reliable use and no major failures until it finally popped a head gasket, not bad for £1250. Total depreciation cost per year £208
2002-52 VW Passat 1.9 TDi SE Bought for £400 to replace above and intended to be a temporary measure until I found something better but it went on to last for over 2yrs until rot got the better of it. Cost per year less than £200
99-V Toyota Corolla 1.3 S 5dr bought as another stopgap replacement for the above. Paid £360 with 3mths Mot and almost 2yrs later it’s still going. Depreciation cost to date £180 per year.
1999-T VW Polo 1.4 CL 5dr bought for new driver daughter for £1,700. Ran for approximately 4yrs before being scrapped due to an accumulation of minor Mot failures. Scrapped for £100, depreciation cost £400 a year.
2006- 56 Chevrolet Kalos 1.2S 3dr bought for £1,000 to replace above. Bit tatty but went well. Lasted 3yrs before someone ran into it and she got £1,200 for it! £200 profit after 3yrs.
2005-55 Nissan Micra 1.2 SE 3dr bought for £1200 to replace above. Been faultless and still looks good over 3yrs later. Cost to date approximately £133 a year as I figure it’s still worth £800 all day.
Try to think on how much money this family have saved over the years compared to a new or newer car on finance, PCP or lease and they’ve never been left stranded anywhere. They don’t worry about where they park and instead of paying a constant monthly payment they enjoy their regular foreign holidays instead. I don’t profit from them, it’s almost a hobby to see just how cheaply I can keep them on the road. I’m looking forward to a call to go looking again but that old Corolla just won’t die.
Edited by SLO76 on 14/10/2019 at 01:33
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