I buy easy to sell cars, nationally from the very cheapest source, and our local area is short of car dealers, so resale is easy.
Because of the increase in small car used values recently, I have been able to buy wisely and run a small car for high monthly miles and sell without losing much.
I traded the Panda back in with a loss of a few hundred quid for six months motoring and 8,000 miles.
Unfortunately, the really sharp deals (£4895 for a new base Panda) were lost when the scrappage was introduced, and dealers put up prices to cover the scrappage reduction.
I have to say though that my running costs are very low as I never pay for tyres, breakdown cover, warranty, tax etc as I buy new, rack up miles and sell after 6 months or so. I get to drive the newest, most fuel efficient cars and lose roughly £100 per month in depreciation - but this is saved in not having to fork out for tax (included in OTR price), servicing (never get there), tyres (not needed) and having breakdown as part of the deal.
EG: I bought a new 2008 Daihatsu Sirion 1.0s did 10,000 miles in less than a year, sold just before service/tax due, lost £1000 in a year - £80 odd per month at 60mpg without any other costs. There is no cheaper way to own a car.
Worth a thought! Lost loads before I worked this system out a few years back, mind!!
I have a Nov 07 Panda Multijet, 36000 miles on the clock, has been faultless, has been a different car handling since advised to put front pressures to 2.5; it's amazing how they pack so much into such a small space. If I had any grudges, wish it had the same torque as my Punto mk2 Multijet 120lb/ft; the Panda has 107lb/ft, the Multijet is not fully utilised in the Panda, but I brim my car when I fill it up, and round and about it gives me 57mpg, which is fantastic.
Original report writer back:
The handling and particularly front end grip were the issue on mine, probably down to the Eco tyres, did not try messing with pressures though.
Only 57mpg? I wopped that driving like a FOOL...!
Panda Multijet - great car, tight cabin, stupid mirrors, poor front end grip, great mpg, good build quality, fabulous engine and box.
Sadly they are now too expensive for what they are; in 2007 my top-spec metallic aircon diesel with sliding rear seats was only £6800 OTR - and this was the latest "red badge" stock. The cheapest identical spec car I can find this now is £8750 - what has added nearly £2000 to it??
Facelift due late 2010 with a more rounded appearance to catch the 500 bandwagon.
I forgot when I said 57mpg, I meant around town. Have had 78mpg going from Leeds to Bridlington, always brimming at the start and finish.
Thanks for your detailed review. If I had read it sooner, I would have purchased my second hand 2008 Panda 1.3 TDI Multijet with fewer reservations.
Loved the handling and responsiveness of the old Mini, and had quite a number of them. Then drove other cars for many years, and hated them all. Like driving a sponge, as most manufacturers try to remove as much road feel as possible to increase comfort.
I bought the Panda as a compromise, because I wanted something economical and utilitarian. I expected to be disappointed by it, but instead am amazed. It's put the fun back into driving.
Only disappointment is that I thought it might reduce the number of speeding tickets I get, but I doubt that can happen, the Panda wants me to go fast all the time.