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Author Topic: Money pit.  (Read 6575 times)

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Migv6 le Frog Fan

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Money pit.
« on: 19 November 2016, 14:45:56 »

Im sat at work bored, so decided to get the Omega service history file all in order and make a list of everything I have done in the seven months since I bought it. Sad I know, but I like that kind of thing.
Having done that I added up all the costs and found that I have spent near as dammit £1200 on it since I bought it in May this year !
The car was a nice example when I got it. Its only obvious problem was the cambelt was overdue.
So I ask myself, how the hell did I mange to spend all that dosh on it. It looks exactly the same now as the day I picked it up. ::)
Im sure STEMO will have an answer.  ;D
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Field Marshal Dr. Opti

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Re: Money pit.
« Reply #1 on: 19 November 2016, 15:02:01 »

Im sat at work bored, so decided to get the Omega service history file all in order and make a list of everything I have done in the seven months since I bought it. Sad I know, but I like that kind of thing.
Having done that I added up all the costs and found that I have spent near as dammit £1200 on it since I bought it in May this year !
The car was a nice example when I got it. Its only obvious problem was the cambelt was overdue.
So I ask myself, how the hell did I mange to spend all that dosh on it. It looks exactly the same now as the day I picked it up. ::)
Im sure STEMO will have an answer.  ;D

The old boy spends virtually nothing in repairs/upkeep

However, he spends about three times that amount on depreciation. :)
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RobG

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Re: Money pit.
« Reply #2 on: 19 November 2016, 15:33:32 »

Quote
answer.
It`s an Omega
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Zirfeld

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Re: Money pit.
« Reply #3 on: 19 November 2016, 15:51:59 »

Hi

My 1998 saloon is about 1.000€.

Including buying in October 2013, maintenance and new MOT until 6/18



But I did not count the hours spent under the car.

Rolf
« Last Edit: 19 November 2016, 16:02:13 by Zirfeld »
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Shackeng

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Re: Money pit.
« Reply #4 on: 19 November 2016, 18:36:43 »

1 Euro!!! about 85pence. Very cheap. :y
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Zirfeld

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Re: Money pit.
« Reply #5 on: 19 November 2016, 19:28:47 »

Hi

The only practicable  way to hold an Omega with low budget is watching serious  ebay auctions. I bought spare part packages per kilo for an outstanding low price.

That is my way.

ATE front brakes about 50€ ? No problem. You only have to wait for the right offer....

Rolf
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EMD

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Re: Money pit.
« Reply #6 on: 21 November 2016, 11:11:43 »

But now you have it all done it will be just wear and tare items . Tyres exhaust wishbones shocks rad's ect ect  :D
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Migv6 le Frog Fan

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Re: Money pit.
« Reply #7 on: 21 November 2016, 13:54:16 »

Who said anything about it being all done ? I still have a to do list.  :D ;D
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Diamond Black Geezer

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Re: Money pit.
« Reply #8 on: 21 November 2016, 14:00:40 »

that figure is easy to rack up, and, at the same time, if you literally didn't care, easy to avoid. At the same time, you could have easily spent double that. Getting Pissy pack on the road ran into four figures (because, wherever possible I wanted to do things right, and the the best of my abilities) but the last year has run into a little over a tenner a month (ymm... up until recently, anyway!)  :)
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Re: Money pit.
« Reply #9 on: 21 November 2016, 14:57:17 »

My £500 525i has probably set me back another £650, but it's probably worth not much less, and wear and tear items like discs/pads/tyres don't add value... still has an oil leak from the sump, but dropping it to change the gasket can wait until spring ::)
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BazaJT

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Re: Money pit.
« Reply #10 on: 22 November 2016, 20:29:07 »

The V70 I bought at the end of June[and put on the road on 1st July]has now covered approx. 900mls since then,so far I have had 2 new ditchfinders fitted at £29 each and a pair of front wiper blades at £3.97p.That's the self same V70 that cost me all of £50 to purchase :y
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Nick W

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Re: Money pit.
« Reply #11 on: 22 November 2016, 20:57:27 »

Mine is just about to cost me £11.49 for a new pair of tailgate gas springs. That's as much as I've spent on fuel in the last month! Bloody thing.
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Keith ABS

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Re: Money pit.
« Reply #12 on: 23 November 2016, 07:34:20 »

In the words of Mr Brewer, "its not always about the money, its rescui g another classic from the scrap heap" :y

Keith ABS
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anV6

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Re: Money pit.
« Reply #13 on: 23 November 2016, 09:54:24 »

So is the Omega a money pit or not?

Reading this as a prospect Omega buyer doesn't really seat well.  :-[
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Re: Money pit.
« Reply #14 on: 23 November 2016, 10:06:30 »

I would say not, unless you buy a real lemon. Then again the same is true of any car (no exceptions).

Probably stating the obvious here, but any omega you buy will have the thick end 15years under its wheels as an absolute minimum. What that means is you are well into the regular replacement cycle of parts that is needed to keep a car of that age going. Nothing lasts for ever and even non-consumable parts (rads, hoses gaskets etc) will succumb to corossion/wear given enough time.

It just depends on where in that replacement cycle your car is when you buy it as to what needs to be spent. £1200 in 6 months in new bits is a lot (for an omega), but then again its only £200/month which wouldn't buy much to ride round in on lease/pcp. I'd wager that if MigV6 kept up with that £200/month and put it into a bank account as a repairs fund he'd be well up by the end of the year, and could probably fund tax, insurance, and a good few pints on what he had left over!

The only reason it looks expensive is that newer cars take your money off you sneakily through depreciation. You don't actually hand over the cash, so it feels less painful.
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