Value of 10 year old car
- Thread starter trojan
- Start date
I guess it's the cost of information... a lot of them are great but there are duds in there too and you need to be able to distinguish between the two.
Plus there's the hassle - well a lot of people see it as hassle - of pushing through the NCT every year and worrying about failing for say, emissions, or something.
Plus there's the hassle - well a lot of people see it as hassle - of pushing through the NCT every year and worrying about failing for say, emissions, or something.
Two key reasons (at least until this year) - any car 10 years or older has its car tax determined by the engine size, and generally this is much more punitive than the newer emissions-based taxation system introduced in 2008. Secondly, insurers are reticent about insuring cars that are that old, particularly in the case of new policies, so premiums are much higher than slightly newer cars.
A lesser point would be the need to do the NCT annually, once the car is 10 years old.
A lesser point would be the need to do the NCT annually, once the car is 10 years old.
RichInSpirit
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On the road today with my new 18 year old car !
T McGibney
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No longer strictly true, a 2008 car is now 10 years old.
Insurance, tax, fuel, & service and maintenance costs are the major drivers. To a lesser extent factors such as better spec/ features, better drive or simply the desire to drive a newer car play a role.
I replaced my 13 year old car a couple of years ago, the €700 annual tax was an issue, but the increasing difficulty insuring it was a bigger driver. The fact that a new car at ~20 times the value of the old can attract a lower insurance shows how big a factor third-party claims are for premiums on older models.
I replaced my 13 year old car a couple of years ago, the €700 annual tax was an issue, but the increasing difficulty insuring it was a bigger driver. The fact that a new car at ~20 times the value of the old can attract a lower insurance shows how big a factor third-party claims are for premiums on older models.
Brendan Burgess
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I feel exactly the same, I am driving my new Audi A3 since 2005. It has about 63,000 km. I had to get something replaced last week as it failed the NCT so I asked the mechanic if it was time to change. He said not to as it was a low mileage, reliable car.
So I am holding onto my new car for a while yet.
Brendan
That's very low mileage. At that rate it might be cheaper to just get a taxi everywhere...
Brendan Burgess
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True, but I am not good at conversation. When I was off the road a few years ago and was reliant on taxis, I found it very difficult.
There are Go Cars nearby so I might go for one of them.
Brendan
TheBigShort
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Because there are plenty of nine yr old, eight yr old, seven yr old cars etc also in immaculate condition.
I highly recommend this approach. 60 euro a year but make sure you just use it for short time journeys. Anything over 4 hours and high mileage makes it expensive.
You could say the value of a car is deprived from
[TR1][TD]New car feeling[/TD][TD2]10,000[/TD2][TD2]0[/TD2][/TR1]
[TR1][TD]Status display[/TD][TD2]10,000[/TD2][TD2]0[/TD2][/TR1]
Adjust the figures to suit
| Type of value | New car | 10 year old car |
|---|
[TR1][TD]New car feeling[/TD][TD2]10,000[/TD2][TD2]0[/TD2][/TR1]
[TR1][TD]Status display[/TD][TD2]10,000[/TD2][TD2]0[/TD2][/TR1]
[TR1][TD]Transport value[/TD][TD2]5,000[/TD2][TD2]5,000[/TD2][/TR1]
[TR1][TD]Total value[/TD][TD2]25,000[/TD2][TD2]5,000[/TD2][/TR1]
[TR1][TD]Total value[/TD][TD2]25,000[/TD2][TD2]5,000[/TD2][/TR1]
Adjust the figures to suit
I used to change every year, I stopped that craziness in 2013 when I traded down years and bought a 2010 E Class with spec and just 22 k Kms after 3 years, I now have 100k Kms on it, I don't plan changing it, the €570 tax isn't pleasant but it has cost me zero in maintenance apart from servicing items, it looks great, I am hoping not to be punished when it crosses its tenth birthday with around 120 k Kms done.
Apart from snobbery there are low mileage cars like mine and Mr Burgess' Audi that can provide years of service, age can be just a number nowadays with cars not being the rust buckets I learned to drive in.
Apart from snobbery there are low mileage cars like mine and Mr Burgess' Audi that can provide years of service, age can be just a number nowadays with cars not being the rust buckets I learned to drive in.
terrysgirl33
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Our car is now 15 years old, the tax is high (approx. €700) but the car insurance gets higher each year, it's nearly at €1000 now with no claims or penalty points, and every year you are wondering if you can get insurance. Otherwise the car runs well.
Hello Mr. Burgess,
I know two people who have sold their cars and now rely on GoCar "full time". In both cases, they are in full time employment, with both having occasional need to travel to various locations around Ireland, or more regularly around Dublin. Neither were forced to surrender their cars, both are saving a notable amounts per year and both seem very happy with the GoCar service. I must admit, I'm somewhat tempted myself.
Like yourself and others here, I'm coming from a position where I have an old but very reliable car, that is long since paid for, so while the increasing car insurance and high tax are very frustrating, the overall cost is not significant when I compare it to having to pay for a new car if I were to change.
One concern I'd have is if you wished to revert to car ownership, you would be heavily penalised with insurance costs as you would no longer have a no-claims history.
Yes, it's a valid concern alright Leo.
Personally, I have a full no claims bonus for example, so I would not like to lose it and yet, I feel the insurance companies are taking advantage of us all regardless of what our history is, so I'm not sure it's really that great a benefit.
I guess it's a case of trying to figure out how many years paying no private car insurance would you need to "breakeven", in terms of the likely cost of having to pay a premium with no discount for no claims, if you ever went back to private car ownership again in the future ?
Obviously, the above is only one part of the overall calculation though, when you also then consider the cost of tax, car servicing, possible car finance and then also make allowance for the costs associated with using GoCar.
In the case of the two lads that I was referring to, both live and work in Dublin and while both travel a bit for work, I don't think either actually see themselves ever becoming car owners again (which in itself is an interesting point, given both are only mid 40s, have active social and family lives etc.).
My 2005 Citroen was causing me problems late last year. I didn't want to change it. It had only 45,000 Kms on the clock. Unfortunately the €50 diagnostic test threw up all sorts of problems. It would cost about €1000 to fix and then it might still have problems.
Most trade in prices offered against a new car were about €1000. Peugeot had a scrappage offer of €3500. I went for it.
I am not so sure that I made the right decision. My new car is sitting in the driveway, hardly ever used. Maybe I should have spent the €1000 on my old car and see if that sorted all the problems.
When dealing with the Peugeot car salesman, it brought back all the memories, mostly negative as to why I hate dealing with car salesmen.
Looking back now I would spend the €1000 getting the old car fixed, then take it from there.
My wife drives a 13 year old car in great condition. However it had become a drag having both cars NCTed every year. Every other test and we had to have something fixed.
Most trade in prices offered against a new car were about €1000. Peugeot had a scrappage offer of €3500. I went for it.
I am not so sure that I made the right decision. My new car is sitting in the driveway, hardly ever used. Maybe I should have spent the €1000 on my old car and see if that sorted all the problems.
When dealing with the Peugeot car salesman, it brought back all the memories, mostly negative as to why I hate dealing with car salesmen.
Looking back now I would spend the €1000 getting the old car fixed, then take it from there.
My wife drives a 13 year old car in great condition. However it had become a drag having both cars NCTed every year. Every other test and we had to have something fixed.
Gordon Gekko
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Might do the job, although due consideration also needs to be given to the driving habits or record of the main policy holder.
I'll resist making comment about the driving record or habits of her indoors (well, for now anyway
).