I've done the banger thing and I have just had enough of all the days of wasted productivity.
I've owned several cars
2007- N reg MK3 Fiesta (bought as a learner car)
2008 - N reg Fiesta MK4 (bought when I passed)
2009 - V reg Corsa B
2010 - R reg Fiesta MK4 Ghia (my dad but I ran it in my own name for a couple of months)
2010 - Brand new Fiat Panda.
Despite the credit crunch finance is still very easy to get, I had no way of proving my income but still got a £100 deposit and 9.7% APR finance deal. With labour rates so high in garages now many young people are realising that often a brand new car is no more expensive than a banger, depending on exact circumstances.
The big problem now is insurance, I am still paying around £800 a year and my car is group 1, although it is brand new so that bumps up the premium a lot.
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