Down grading: Am I mad?

Cookie_Monster

I'm thinking of selling my car as it just costs to much in terms of finance and bank refuses to renegotiate HP for me, they'll settle it no prob if I sell though :rolleyes:. I can still afford the car but it's gotten to the stage where I'd rather spend money on other things as I don't drive enough to justify the large expense of it.

So assuming I could sell the car I want to put around 5k back into a new one, nice and cheap, but still want something a bit different. Am I mad thinking something like a Maxima or something similar: big, comfy, lots of bits...
Fuel and tax not so much an issue though Insurance may be.

Homer

What are you currently driving? How big of a downgrade is the Nissan?! Are you prepared to lose your shirt trying to sell it privately? Will you be able to clear what you owe by selling it in the current market?

Mr Benevolent

'02 Maxima e2950

alias no.9

Insurance won't be a problem on that, it'll likely be cheaper than the tax if you have any kind of NCB, they don't exactly have a boy racer following.
One question though, why are you spending so much? Check out the bangernomics thread, I'm a big fan. A similar '00 reg Maxima should easilly be in bangernomics territory. I've been running a 1996 Merc C200 estate for nearly two years now that I bought for a little over €1k. It's got leather, autobox, cruise control, electric & heated seats, and I don't think I'd buy a manual again even though I drive the wifes manual car regularly.

Maxima is a very fine bus and quite light on fuel for what it is. If you can get rid of the 3er without losing your arse on it I reckon it's a good move. As said, you'll get better value than the one you linked to, with the new taxi reg they won't be popular.

Regarding the madness question, getting a 3er (or anything else) on finance is in my view, mad.

Cookie_Monster

Homer wrote: »

What are you currently driving? How big of a downgrade is the Nissan?! Are you prepared to lose your shirt trying to sell it privately? Will you be able to clear what you owe by selling it in the current market?

e92 2008 320i m-sport.
will easily clear Hp as it only about 60% of car value

anyway I've decided I'm only going to spend about 3-5k on another car regardless of what I sell it for as likely to not be here in the next year anyway so no point spending big on something and save all the extra money for moving.

edit: that Maxima was only the first example I came across and stuck up, I know its overpriced in comparison to others. was just something I thought was a bit different to use as an example.

Cookie_Monster

Cookie_Monster wrote: »

anyway I've decided I'm only going to spend about 3-5k on another car regardless of what I sell it for as likely to not be here in the next year anyway so no point spending big on something and save all the extra money for moving.

don't spend 3 to 5K so

unkel

RoverJames wrote: »

don't spend 3 to 5K so

+1

You could easily enough find a Maxima for a grand - as Alias said, bangernomics territory!

Max Power1

unkel wrote: »

+1

You could easily enough find a Maxima for a grand - as Alias said, bangernomics territory!

There was an S CLass in the bangernomics thread (that I posted) for under a grand the other week. Go for that!

_Kaiser_

I know I've posted about this before, but never really got any thoughts so rather than create a new thread I thought I'd post in here

As regular readers will know, I've a 06 2.0 TDI Passat with the DSG box that's served me pretty well in the last 2 years but with the mileage adding up (now at 140k km) and some work needed (DMF needs changing though it's running perfectly), I'm thinking about a change.. to be honest a few quid in my pocket wouldn't hurt either!

So I've been looking at what's out there and I keep coming back to the 02-04 era Mercedes E220 CDI's, or maybe the C-class equivalent? Any other suggestions are welcome though!

Prerequisites though are that it must be diesel and fairly economical(I do a fair bit of mileage), decently sized, and automatic (I haven't driven a manual in years).

If I could get around the 10k mark for the Passat (full VW history and done on time, excellent condition etc) I'd be happy and including the cost to change, I think I could come out with €3k in my pocket? Sound realistic?

Ideally I'd rather do a straight trade-in/swap, but are dealers willing to taker a newer car for an older one with cash in my direction?

If it's a non-runner then not to worry, but just thought I'd float it past ye all here

galwaytt

...all I can tell you is the W211 is not without it's flaw's, and a 'banger' is more likely scrapped, than fixed.......

One issue is the rad is a combined rad and transmission cooler. The problem is that the rad can leak/split, and coolant gets into the transmission. No prizes for what happens to an auto box supplied with glycol instead of ATF !! Replacement is the only cure, and, new, the cure is about 7k iirc.

Look at it this way, it was enough to put me off buying one, and I bought the Saab instead.

unkel

galwaytt wrote: »

...all I can tell you is the W211 is not without it's flaw's, and a 'banger' is more likely scrapped, than fixed.......

One issue is the rad is a combined rad and transmission cooler. The problem is that the rad can leak/split, and coolant gets into the transmission. No prizes for what happens to an auto box supplied with glycol instead of ATF !! Replacement is the only cure, and, new, the cure is about 7k iirc.

Major design flaw. Big deal when you buy a nearly new car for many thousands. But not much of an issue in the land of bangernomics. As you say, buy a banger for a grand and if it develops a 7k problem, it's time to buy another banger

VolvoMan

Kaiser2000 wrote: »

So I've been looking at what's out there and I keep coming back to the 02-04 era Mercedes E220 CDI's, or maybe the C-class equivalent? Any other suggestions are welcome though!

The C-Class from '01-07 was pure crap. There is really no reason to look at one other than the badge.

In saying that; the W211 E-Class wasn't much better.

_Kaiser_

So much for that idea! Any other suggestions/alternatives?

_Kaiser_

Any thoughts on an A6 (2001 era) with the 2.5 TDI auto box?

cadaliac

Kaiser2000 wrote: »

Any thoughts on an A6 (2001 era) with the 2.5 TDI auto box?

I would opt for the 1.9 rather than the 2.5. I think the 2.5 was an inefficient engine and I'm not sure what the power was like in them. AFAIK, not enough to justify the extra tax, when the 130 bhp 1.9 was nearly as quick and a lot more efficient.

bmw535d

cadaliac wrote: »

I would opt for the 1.9 rather than the 2.5. I think the 2.5 was an inefficient engine and I'm not sure what the power was like in them. AFAIK, not enough to justify the extra tax, when the 130 bhp 1.9 was nearly as quick and a lot more efficient.

163bhp as far as i know which is fairly poor for a 2.5 v6.

_Kaiser_

bmw535d wrote: »

163bhp as far as i know which is fairly poor for a 2.5 v6.

Presumably it could be remapped like others in the VAG stable to improve that (and the fuel economy) though?

smash

Cookie_Monster wrote: »

Fuel and tax not so much an issue though Insurance may be.

So you have no problem spending big bucks on fuel and tax for a car that's only going to be worth 5k max and wont exactly be something special?

Does not compute...

Zubeneschamali

steve06 wrote: »

Does not compute...

Seems straight forward to me: OP can afford to run a big car, but doesn't see the point of having a lot of finance tied up in it.

Cookie_Monster

steve06 wrote: »

So you have no problem spending big bucks on fuel and tax for a car that's only going to be worth 5k max and wont exactly be something special?

Does not compute...

why not? if I'm not paying finance then the cost drops a lot. I don't do huge mileage anyway so fuel isn't a big cost regardless of engine size. (cycle to work which is cutting out a lot of driving)

While tax is higher on a 2L CC wise it's no where near the loan cost for the year so is worth it.

I'm not going to buy something like a primera with a large engine but something nice from the bangernomics thread will probably do. Anything with 2L+ and plenty of spec is worth the tax IMO

Mango Joe

Hey, this topic reminded me of a question I kept meaning to post on here but it prob doesn't deserve its own thread and who knows maybe the OP might be interested!!!

The Da is selling this Maxima - Got very little interest last time around but was probably over priced - If anyone is interested let me know and also any comments on what the asking price should be would be appreciated!!!

steve06

steve06 wrote: »

So you have no problem spending big bucks on fuel and tax for a car that's only going to be worth 5k max and wont exactly be something special?

Does not compute...

I do about 200 miles a week and drive a 2.5 Rover, €60/week in petrol, €900/tax and I paid no where near 5K for it, I love it though

VolvoMan

Would you consider this?:



http://cars.donedeal.ie/for-sale/cars/1626858

-Corkie-

If your financial situation cant cope with the car you have then sell it. I downgraded from a Audi A8 to a poverty spec passat with black wheels..:rolleyes:

Shane732

I suppose part of the question comes down to what are going to spend the extra cash on.

I've do idea what amount you financed on but lets say €35K over 4 years for arguments sake. Lets say your monthly repayments are about €800. Getting rid of that liability of €800 would be a huge release cash-flow wise. However if you're going to blow it then I don't see much point in getting rid!

cadaliac

VolvoMan wrote: »

Would you consider this?:



http://cars.donedeal.ie/for-sale/cars/1626858

That IS great value there!
Cookie - here is your car! (low miles too!)

Cookie_Monster

Shane732 wrote: »

I suppose part of the question comes down to what are going to spend the extra cash on.

I've do idea what amount you financed on but lets say €35K over 4 years for arguments sake. Lets say your monthly repayments are about €800. Getting rid of that liability of €800 would be a huge release cash-flow wise. However if you're going to blow it then I don't see much point in getting rid!

well not all of it but there are many things I need / want / could do with :P
Most of it would go to savings tbh but having the leeway is nice rather than being close to the wire every month just for the sake of a car on top of everything else. (and it's not as bad as your numbers )

johnb25

Cookie_Monster wrote: »

I'm thinking of selling my car as it just costs to much in terms of finance and bank refuses to renegotiate HP for me, they'll settle it no prob if I sell though :rolleyes:. I can still afford the car but it's gotten to the stage where I'd rather spend money on other things as I don't drive enough to justify the large expense of it.
.

Have you seen this thread....good discussion on the "half rule" for ending HP agreements:
http://www.boards.ie/vbulletin/showthread.php?t=2055601794&page=13
It only applies to HP, and it looks like the banks are obliged to do it if it suits you. The important point is not to sign a voluntary surrender, no matter what the bank tell you. I have not done it, but it may be worth a look for your situation.

Shane732

Cookie_Monster wrote: »

well not all of it but there are many things I need / want / could do with :P
Most of it would go to savings tbh but having the leeway is nice rather than being close to the wire every month just for the sake of a car on top of everything else. (and it's not as bad as your numbers )

My figures were for illustration purposes only . Sticking with my example - €800 discretion cash is a lot of money for anyone to have on a monthly basis.

For example I wouldn't see the point in downgrading to a €1-2k car and then end up spending €3k on a new 3D TV, €2k on a new Mac Book, €500 on a ipad etc... While a car may be a depreciating asset, one thing for certain is that it'll hold it's value every bit as good as the other items I've listed!

Maybe an option would be for you to downgrade your 3er to something that's cheap and also cheap to run. I don't see the point in downgrading to a cheap car that's going to cost you an arm and a leg to run - I think it kind of defeats the purpose of the whole exercise! Then use €150 - €200 of the cash as discretion spending, which should on a monthly basis give you a bit more room to play with. Then save the balance (or if you have balls of steel buy BOI shares, if you're a nutter buy AIB shares!) - €600 per month.

12 months in and you've got €7,200 saved up (€5-10k if you buy BOI shares, €0 if you buy AIB shares!) . At this point you could look at moving back up to a nearly new car if you wish or maybe you might be due to buy another new 3D TV!


*Please do not consider any references to quoted stocks/securities as investment advice. Independent investment advice should be sought prior to making any investment!!!! :P

Squall19

Kaiser2000 wrote: »

Presumably it could be remapped like others in the VAG stable to improve that (and the fuel economy) though?

2.5l na wont map too well, a mapped 130bhp tdi would probably have the legs on it and double the economy.

Zubeneschamali

Shane732 wrote: »

I don't see the point in downgrading to a cheap car that's going to cost you an arm and a leg to run - I think it kind of defeats the purpose of the whole exercise!

In his position, I wouldn't feel like downgrading to a car that's cheap to run: that's a real downgrade which you'd feel every time you get into the car. "Downgrading" to an older luxury bus means you cut out the finance but still have good seats, air-con, cruise control, a real stereo and decent overtaking poke.

Cookie_Monster

the time to buy BOI shares is long past, missed that boat already :D

Someone has to buy the e92 before any of this can happen anyway so we'll just have to wait and see.

Zubeneschamali wrote: »

In his position, I wouldn't feel like downgrading to a car that's cheap to run: that's a real downgrade which you'd feel every time you get into the car. "Downgrading" to an older luxury bus means you cut out the finance but still have good seats, air-con, cruise control, a real stereo and decent overtaking poke.

If I buy an old 2.5L the only diff is no finance and 985-305= 680 extra tax, or 4 weeks savings/ 1 loan payment-ish (hardly a cost) Petrol remains pretty much the same as does insurance (if not cheaper)
So totally worth it IMO

Cookie_Monster

Cookie_Monster wrote: »

If I buy an old 2L the only diff is no finance and 985-305= 680 extra tax, or 4 weeks savings/ 1 loan payment-ish (hardly a cost) Petrol remains pretty much the same as does insurance (if not cheaper)
So totally worth it IMO

Tax on an old 2.0 is €600ish

Cookie_Monster

RoverJames wrote: »

Tax on an old 2.0 is €600ish

woops, I picked the 2.5L figure. so is even less of a cost then. Though maybe that's what it'll be after the budget :pac::pac:

VolvoMan

Cookie_Monster wrote: »

woops, I picked the 2.5L figure. so is even less of a cost then. Though maybe that's what it'll be after the budget :pac::pac:

If I were you I'd snap that 940 up.

Matt Simis

Squall19 wrote: »

2.5l na wont map too well, a mapped 130bhp tdi would probably have the legs on it and double the economy.

Lol, the 2.5 TDI is not a Naturally Aspirated car!? How woeful would that be?

Remapping results depend on the generation, roughly 163 goto 180, 180 goes to 200, small fuel economy increase. Not a wonderful engine but not as bad as being made out considering its ancient (and diesel engines progressed so much in the last 6years).

Cookie_Monster

VolvoMan wrote: »

If I were you I'd snap that 940 up.

sure, just buy my car off me first

Shane732

Cookie_Monster wrote: »

sure, just buy my car off me first

How much?!

Cookie_Monster

Shane732 wrote: »

How much?!

see sig

The Recliner

Cookie_Monster wrote: »

see sig

Very nice car Cookie

I am thinking of doing something similar when I sell my car

I guess a lot of people are in the same boat and trading down becomes attractive

Shane732

Cookie_Monster wrote: »

see sig

Damn no heated seats!!

Gotta have heated seats these days!

Cookie_Monster

Shane732 wrote: »

Damn no heated seats!!

Gotta have heated seats these days!

AD wrote:

Semi Electric, heated front seats

read it again there :P

Shane732

Cookie_Monster wrote: »

read it again there :P

Sorry I didn't see the buttons in the picture - the lack of contact lens doesn't help!