Running a car is an expensive business. Comprehensive insurance premiums are at their highest levels for a decade, labour rates for car servicing are on the up, plus car values have plunged which means depreciation is now the biggest motoring expense. Luckily there is an alternative and its called Bangernomics.
Put simply, Bangernomics contrasts the absurd expense of buying a new car with the supreme good sense of buying well used. At a stroke depreciation no longer becomes an issue, running costs are slashed and there are no finance charges to be endured. Why buy a brand new car just to drive a few miles to the station each day? Why worry about leaving your pride and joy overnight in an urban street? Please allow me to explain.
Bangernomics Saves Money
Before a new car has turned a wheel you can write off VAT, plus the dealer's charge to put it on the road, but the bad news of new motoring does not end there, depreciation takes an unhealthy bite out of the car's value too. In the first year where the drop is worst you can figure on depreciation being as much as 50% of the original purchase price on some models.
With Bangernomics you own a car which is unlikely to drop in value much and will be cheap to run. You won’t bother paying through the nose for comprehensive insurance and you won’t worry if it gets left overnight in a dodgy car park, or it gets a scrape, or dent. You won’t care what the Joneses next door are driving because image is less important than practicality. Then if you get bored with the banger, or it breaks down and costs too much to fix, you simply get rid of it and your losses are marginal.
Bangernomics is Green
According to some environmentalists car ownership is irresponsible because of the pollution they cause. However, a Bangernomic approach amounts to recycling. As the natural resources and energy used in building a new car is phenomenal, prolonging the life and disposing responsibly of a used car is very green.
Bangernomics equals Fair Trade Motoring
Bangernomics can also be a long term thing. Since 1976 Charles Ware has championed the Morris Minor as the durable, economic and lovable alternative to a new car every three years. Not only that in 1991 he established a plant in Sri Lanka to make the complex rounded body panels by hand. This is a proper partnership between Chares Ware’s Morris Minor Centre and local interests in that country.
So long before it became fashionable to be Fair Trade Mr Ware was doing his bit. Indeed, owning a Minor or a simple classic car would also help local businesses to you rather than benefiting the global conglomerates that run car franchises and supply parts. Your friendly local garage can look after a Minor and maybe you could too in the spirit of self-sufficiency.
James Ruppert is writing the Bangernomics Bible which he will publish this year and you can visit his site http://www.bangernomics.com for more bangtastic tips.
Posted @ 06:16:53 on 21 September 2009
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