I drive an 18-year-old car. It's got a 1.3 litre petrol engine and 5 gears. It gets me to and from work 5 days a week (50 miles each way, so that's 500 miles per week). The engine has never cut out on me, and it's burning little to no oil. There's 102,000 miles on the clock (there are only 6 digits on the counter so it was pretty cool watching it go from 99999 to 00000).
I might be receiving a large amount of money soon, and so I think for anyone who receives a lump sum like that, there is the temptation to splash out on a new car. I would never buy a brand new car though... I'd always go for one that's a year or two old.
Second-hand cars are like girlfriends. They can be pristine and immaculate and perfect when you get them, and then in the first month you find out 3 or 4 of its dirty little secrets (e.g. rattle in the timing chain).
I've done about 20,000 miles in my current car already since I bought it about a year ago, and so I know all the surprises already.
Anyway... instead of buying a fancy new car, I'm thinking I'll put exactly £1,000 (that's about $1,313) into my 18yr old car, as follows:
(1) The usual wearing parts: break pads, spark plugs, filters, oil
(2) New clutch (it's starting to slip quite badly)
(3) New heater valve (the cabin has no heat)
(4) Take it to a body shop, and give them two instructions: (a) Plug all the leaks, (b) Make it look like a brand new car
(5) Depending on the price I can get them for - new wheel rims
(6) Give the interior a good going over with a hoover and a damp cloth
I know that I won't be increasing the resale value of my car by doing any of this, it's 18yr old and I'm unlikely to ever get a grand for it, so this spending is all just for myself while I have and enjoy the car.
And even if I do buy a fancy expensive car in the future, it's always good to have a spare


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