I'm going into semi-retirement soon, and the boss has very generously allowed me to keep my company car, a Feb 06 VW Passat SE diesel with the 1.9 engine.
It's a brilliant car, which as done 37,000 miles in the past two years, and which gives me up to 55mpg on a run.
However, I'm conscious of the fact that servicing and repairs are expensive, and as I'll be doing much reduced mileage (a run to the supermarket once a week and occasional outings) I'm wondering if it will pay me to sell the car and buy something that will cost me less in the long run and put the sale/purchase balance towards my retirement fund.
I'm a complete ignoramus on cars, but John has often referred in complimentary fashion to the new Panda with the 1.3 multijet engine. I have very fond memories of driving an old Panda in years gone by, and I know it's a completely different car, but does anyone have any observations?
Or would I be better of just spending a couple of thousand on a Mondeo, insuring it for third party only and running it into the ground?
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I would suggest doing nothing for a period - I've retired three times, and am still getting requests to do odd jobs. With reduced mileage your servicing, etc., costs are going to be drastically reduced. The cost of exchanging cars will probably not produce much for your retirement fund.
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Agree with Colin. Insurance and MVL might be cheaper for a different vehicle but you'd need to look carefully at servicing costs and real world chances of needing significant other repair work.
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My retirment plans has seen me ditch my BMW 535d and buy a Roomster. Moaning about kit, grunt and handling apart, its a perfect retirement car. It now sports a (hidden) towbar and the back seats come out for big things. Still have a MK5 Golf Gti for fun though !
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I recently drove a Fiat Panda Multijet and was amazed how good it is and actually nice to drive. I normally dislike Fiats (my sister, for some unaccountable reason has had three Punto's and they have been VERY unreliable), however the Panda does seem to be very well designed for a Fiat. She has recently placed an order for one through Drivethedeal, I think its something like £6400 inc. paint option, which is stunningly good value. They seem to be selling well because there is an 8-week wait for it to be built.
Presumably your VW will still require an annual service even if the mileage drops to a low level, tax and insurance will remain the same I would think.
Unless you are doing motorway journeys or need the space then I would think a Panda would be a good option.
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Thanks - in fact, servicing is done when the computer tells me to have it done.
Frankly, it alarms me that I do 18,000 miles in a new car before some electonic wizardry tells me to have it serviced in the next 1,000 miles.
The one drawback with the Passat is that it eats expensive tyres.
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For me,SportKa for the smile on the face and an elderly Escort TD estate to carry everything.
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Having retired young, I have concluded:
you get older and less agile: so ease of entry/exit is important.
Parking easily is a must.
Running costs must be low.
Reliability must be 100%
No penchant for expensive failures.
Low fuel consumption and VED and insurance.
Take your pick of sub 120gm/km small diesels..
Edited by madf on 05/04/2008 at 16:32
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If you're retiring in a few years and practicalities and Mr Darling suggest a diesel Panda, what (realistic) car do you choose for those last few years?
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how much would it cost to replace? your passat should be good for another 10 years, have the oil changed every 6 months don't go near main agents, enjoy your retirement!
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The one drawback with the Passat is that it eats expensive tyres.
Put cheaper ones on then! Seriously, there are several good quality but lesser know brands that, in everyday use, are every bit as good as the premium brands.
I'm thinking of the likes of Khumo and Federal (several others too).
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If you like the car, why not just keep it. Maintenance costs needn't be prohibitive if you use independent garages.
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Better the car you know that the one you don't.....!!!!!!!!!
Keep the VW.
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I retired 18 months ago and the best recommendation is to do nothing in the 1st 12 months or so. Your life changes as does your needs - after 12 months, maybe longer, you may have a much better idea of how things are panning out.
I found that although my income dropped drastically - so did the expenses - and I do not mean the obvious ones but others you did not think off. It appears I frittered about £10 / day at work on nothing - Costa coffee, extra newspapers magazines, CDs, DVDs, parking for work that I never reclaimed, incidentals associated with work but you never claimed them.
At 12 months I was "trading at a profit" almost every month - not touching savings, interest, dividends and still with a good standard of living.
Bought a good sized new diesel car in October and enjoying it - will downsize the 2nd car when I feel like it may be next year and get a shopping car (Aygo/CZC) - this year it is a caravan for the grandchildren primarily.
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I'm afraid I would do something, Wick, My situation wasn't quite the same as yours Wick, in that I left previous employment with a pay-off that meant a degree of financial security, staying away from similar employment for three months, and a VW Passat petrol turbo ex-company car at a very good price.
The only element I regret was the Passat because it became very, very expensive within a matter of months. Minus a petrol card the true cost of its 'economy' became painfully obvious, and all the routine high-mileage Passat design faults emerged.
It didn't bankrupt me by any means, but the amount of money I had to spend keeping what had previously been someone else's problem was ridiculous.
So I ditched what had been my pride and joy. Best car-related decision I have made in ages. Until I realised that the TDi I replaced it with had all the same design faults...
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I'm surprised at the comment on "eating tyres" - isn't the Passat on the same platform as the Golf? I changed the original fronts of a 2.0 TDI at 35,000 and the rears look as though they will exceed 50,000. I would check the tracking (at the company expense before it was handed over).
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No the Passat isn't built on the same platform as the Golf.
I'm impressed with 35000 out of the fronts. I drive my 1.8T Passat with great care (like a Jessie in fact) and thought 28000 was pretty good.
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I'm impressed with 35000 out of the fronts. I drive my 1.8T Passat with great care (like a Jessie in fact) and thought 28000 was pretty good.
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Depends on how many corners you go round - motorway miles at a steady speed uses very little rubber
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I caught an interesting comment during the grand-prix commentary on Sunday: it's acceleration and braking that are the primary factors in tyre wear, rather than cornering. Can't see why that should not apply to road cars as well as F1, albeit to a lesser degree, assuming correct inflation and alignment. Other views?
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The factory-fit Conti SportContacts on my Passat PD130 sport lasted 33K miles on the front (and 50K on the rear), I was gobsmacked as I use acceleration, corner speed & handling a lot.
The replacement Vredesteins (about £10 cheaper per tyre than Contis) only lasted 20K on the front ... false economy.
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Personally, id look around and see what the majority of older owners drive, they usually go for the most sensible choices.
If your not doing many miles, then no diesel is really worth the extra you pay.
Have you thought about a Daihatsu Sirion? The 1.0 has emissions below 120' and as I understand it, they are likely to be slapping a 5 year warranty on it aswell as they have with the Subaru version.
An awful lot of Daihatsu owners are older because its a very dependable, cheap to run choice which suits retirement and lower incomes. Worth a look if nothing else.
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