Two Car Households – Costs Question

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  • Two Car Households – Costs Question
  • shooterman
    Member

    I’m trying to work out the pros and cons of an idea I have had about the costs of running our two cars.

    I do high mileage. I am currently driving an E46 320dse with 191k on the clock. I am thinking about changing car. My wife does very low mileage and is driving an 05 Merc B200 with 40k on it.

    My idea is that I will change (there’s a very nice 09 BMW 520d I test drove today) but she would drive my new car to keep the mileage down. I would take her car which is now 7 years old but low mileage and put about 150k on it over the next 2-4 years.

    In this way she would have a nice car to drive and I would have access to low mileage cars I could drive into the gorund over 3-4 years. It also means that only one car would have finance on it at any given time.

    The wife isn’t so happy though. Any downsides I haven’t thought of?

    Premier Icon iainc
    Subscriber

    still got 2 premium brand cars outwith warranty etc. You could buy her a new small cheap to run car with a long warranty, 0% finance etc – like a Kia or Hyundai – surely cheaper in long term ?

    b r
    Member

    Yep.

    The wife isn’t so happy though.

    What will this cost?

    Does she actually want a new car, if so buy whatever she wants. And then wait for yours to die and buy whatever you want.

    ell_tell
    Member

    09 BMW 520d

    My friend has one of these. He does high mileage for work and whilst it is very nice is also has run flats. He’s just spent circa £800 on new boots for it so might be worth factoring that into your costs.

    Edit: Though your missus would be driving it mainly and as you say low mileage so not so much of an issue.

    Diesels don’t like repeated short trips, newer ones doubly so.

    My other thought was, do you really want to do 150,000miles in a B-class?

    [edit] Iwas thinking the tiny a-class, the B is focus sized isn’t it?

    Personaly, I’d get a new(er) car for yourself and run that to an astronomical mileage. Then let your Mrs get herself a new (amaller) car when she wants it. A 5-series is pretty big and I’m assuming small mileage = short trips where ease of parking is more usefull than comfortable motorway wafting. The only downside of this is your plan would be most likley to kill the car simoultaneously with high mileage, rust and other age related issues. Your missus plan will kill her car off with rust most likley well before it reaches a similar mileage.

    The ideal I suppose would be buy her a small car thats done loads of motorway miles, and yourself a low mileage luxo-barge and they’ll probably die at the same time.

    Nicknoxx
    Member

    What is most important:-

    Running costs
    A prestige vehicle
    Reliability
    A happy wife

    Personally I’d want my wife to be happy with ‘her’ car. If I did a high mileage I’d want an economical car. I drive a 100k mile campervan, my wife has a newish MX5

    Premier Icon ampthill
    Subscriber

    I see logic to slapping miles onto your wifes low mileage car. Assuming you’d be happy driving it.

    But if money is an issue why buy a 5 series BMW. Buy car that is cheaper and meet both of you needs, so that you can take it over when her current car dies.

    Double worry. So you want to buy a 5 series BMW and let your wife drive it. So it will cots lots of money and make your wife unhappy. Sorry what am I missing

    khani
    Member

    Buy another one like your wife’s…

    crikey
    Member

    Not only a #firstworldproblem, but a #keepingupwiththejonesinthefirstworldproblem…

    Premier Icon porter_jamie
    Subscriber

    carry on with your 3 series. leave your missus with the merc. when yours dies, replace it.

    Premier Icon roverpig
    Subscriber

    I was with you right up to the finance bit. If you are worried about costs why on earth would you consider finance? Not having a go, I’ve just never understood why anybody would borrow money to buy a depreciating asset unless they had no choice.

    Cheers

    Andy

    shooterman
    Member

    I’ve just never understood why anybody would borrow money to buy a depreciating asset unless they had no choice.

    And there you have it. Until I find work more locally I need to have a reliable car on the road. I balk at the idea of dropping £15 – £18k of my savings on a car. I know it doesn’t make sense to pay interest on the money borrowed but if I ever could not find or was unable to work I would much rather have cash in the bank to tide me over and a car in the driveway that could be sold to clear the finance.

    Premier Icon footflaps
    Subscriber

    I’ve just never understood why anybody would borrow money to buy a depreciating asset unless they had no choice.

    Flexibility plus you can get cheap finance.

    E.g. let’s say in 1 years time you get made redundant. I’d rather have a car on HP + savings intact, than no savings and a potentially illiquid asset.

    Premier Icon ampthill
    Subscriber

    footflaps is that really better. Genuine question? Can you give they keys back on HP

    OP

    You can but a reliable car for under £15000.

    andrewh
    Member

    let’s say in 1 years time you get made redundant. I’d rather have a car on HP + savings intact, than no savings and a potentially illiquid asset

    What?!?
    Say you have £5k.
    1) You could buy a car for £5k. When you get made redundant in a year you have a car worth £3k.
    2)You could borrow £15k and buy a car worth £20k. When you get made redundant in a year you have a car worth £15k and a £14k debt.
    .
    How is the second scenario better?
    (assumptions obviously on depreciation, loan repayments and deposit for the pedants but you get the gist)
    ,
    Also, 1) Net loss £2k (depreciation)
    2) Net loss £5k(£5k deposit + £1k loan repayment + £14k to repay rest of loan – £15k car is worth) Net loss £5k.

    Premier Icon D0NK
    Subscriber

    🙂 @ crikey

    If you’re worried about costs stop driving Mercs and beamers

    crikey
    Member

    I think this needs to be spelled out for the op; buy cheaper cars.
    HTH.

    rudebwoy
    Member

    get a cheaper wife..

    Premier Icon Teetosugars
    Subscriber

    Get a job that gives you a company car..

    shooterman
    Member

    A Passat it is then!

    I am not that worried about costs. It’s just I understand that with my mileage, any car I buy is a rapidly depreciating asset. However, also because of my high mileage, I like to drive something comfortable and reliable.

    b r
    Member

    I am not that worried about costs. It’s just I understand that with my mileage, any car I buy is a rapidly depreciating asset. However, also because of my high mileage, I like to drive something comfortable and reliable.

    Agree, when I was doing big miles I wanted to be safe, happy and comfortable. But I’d look at cars a bit older, and change them a year or two earlier. And since they’ll be ‘scrap’ when you sell don’t worry about the sale price/ability, so buy ones that no one else wants. I’ve an X-type Jag at the mo, cracking drive and quiet/plush – worth nothing, cost nothing.

    wobbliscott
    Member

    Why are you bothered about mileage? It anything less than about 500k miles on a modern car these days really is not an issue assuming it has been well maintained beforehand, especially if the mileage is mostly motorway. I travel alot with work and my company uses a chauffer service who use E class mercs. This company runs hem to about 800k miles before they sell them at auction for around £6kish. I keep on trying to get the drivers to tip me off as to how I can get one, because at that mileage, they are as fresh and run as well as a brand new car.

    Premier Icon ampthill
    Subscriber

    Wobbliscot are you sure you’ve not added a zero!

    I lift share with some one who took a Vectra to i think 310,000. It was just totally shagged. The wheel was frayed. The gear stick cuff in bits. All suspension and steering parts loose.

    http://www.mbclub.co.uk/forums/general-discussion/122800-who-has-highest-milage-then.html

    http://www.honestjohn.co.uk/forum/post/index.htm?t=8629

    What reg is the car you are driven around in?

    On Autotrader £6000 buys a 100,000 mile car. Why would any one buy one with 800,000 on it for £60000

    ell_tell
    Member

    This company runs hem to about 800k miles before they sell them at auction for around £6kish

    Wha??? Who on earth would spend £6k on a car with nigh on a million miles 😯

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