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Showing posts from July, 2013

Bangernomics

I've been hearing a lot about bangernomics recently - which essentially about finding the hidden gems of automobiles, cheap, high mileage, well looked after, used cars, not necessarily all three, loving them for as little as possible and then running them into the ground without worrying about high cost repairs.

This I think comes from the idea that when people looking to change their current car, should check to see how much the current car costs in terms of how much it costs monthly to fix, vs loan repayments and then only changing it when the monthly cost increases.

I believe this is somewhat of a false economy.

First off the simple premise, you don't get anything for free.

So even the banger has to be bought from somewhere, and even though you're not spending wild amounts of money, still has a cost to it. So it is a case of minimising that cost.

Now most will buy their banger with an MOT, use it for a year, sell it on.

But, my car cost me £3000, I've had it five com…