I had a midlife crisis 5 years ago and since then have owned 5 cars. I enjoy doing some work on them and driving them weather permitting with the occasional track day thrown in for good measure. I also enjoy trying new cars (four MX-5’s and Porsche Boxster) and learning the defining characteristics of each. I sadly always have a spare bucket list of cars I would also like to try sometime in the future, which is really a floor in my character!
Since the turn of the year, I have noticed a sharp increase in prices on many of the cars that were well within my reach 12 months ago. I am unsure if this increase will be sustained or if it is just a blip. Many factors may have contributed, Brexit tariff rules, weak pound, inflation, electrification and even lockdown. It has really started to focus my thinking. It appears that this may well be the last opportunity to seek out the affordable dream car before the ever-increasing values put’s many cars well beyond my means.
This is very much a first-world problem, owning a second car is therapy and a luxury that many can ill afford. I am thankful for my situation and have often handed the keys to my cars to family and friends to enjoy too.
I am in a dilemma whether to stick with my current MX-5 (several months of searching) or seek what could well be the last forage into an internal combustion engine vehicle…
I am sure most on this forum are more than happy with their cars and I may well just sit back and enjoy my MX-5.
I can see where you are coming from. Much of the price increase was due to new rules on emissions too. I worked at a Mazda dealership between 2006 till the end of 2011 - demo’d loads of NC’s and a few NB’s to potential customers… Most bought into this wonderful little roadster…
I finally got my 2018 ND2 2Litre in July 2020 - between lockdowns… Really wouldn’t want anything else, so if you love your MX-5, I’d stick!! Rob
My pride & Joy…
I agree - I also thought that whilst the price of the MX5 had increased, it was still (reasonably) affordable, but not like they were a couple of years ago.
As I have a Golf Gti (which will be going when my ND arrives in 2 1/2 weeks, bought 3 years ago as an ex demo for £26k (with 19" wheels and a DSG box), I considered a new one, but at a list price of £37k for a comparable car, there was no chance, as it was just no better and in some ways worse. I look at it as a “value” proposition and it just is not a good value change.
As I figured MX5’s were endangered, I went that route, as there time must be limited now, I do a lot less miles now and would rather do them all in the MX5!
I may be getting old, but cars just seem so expensive now!!!
My MX5 is probably going to be kept, mainly because it has a bazillion miles on it, and even though its all solid, and everything more or less works, I doubt it would be worth that much to others. Classic worth more to me situation.
The Jag (2004 XJ8) though, I might replace that, after determining owner a big car when you no longer commute, isn’t ruinous. Not sure what with but BMW E63s, looks wie, seem to have aged well, and appear to be good value (though I see issues about stem seals.
Was looking at several cars, TVR Chimaera, XK8, VX220, S2000, Lotus Elan M100, 944, Boxster 986/987 and MX-5 ND.
The issue is I was going to go through a list of 3 or 4 of these in the coming years and if I found the ‘one’, would stop. However, many of these are going to be a stretch to purchase now, let alone in 12 months.
I took my old boss out in my first MX-5, he is a serious car enthusiast (he has an Jensen Interceptor, Audi S6 and Vauxhall Carlton) and he said this is all you need, what great fun. It was a Sunlight Silver, 1.8 NC…it was great.
I now have a MX-5 NB Icon…haven’t been able to drive it much as purchased in September and been doing work on it so it is SORN until the 1st of March.
As we know, time is running out on ICE cars and this is progressive. The younger generation will have moved on to hybrid, electric and possibly hydrogen.
I guess ultimately I should be thankful to have a MX-5…these really are great cars.
Unless you NEED something practical I’d say stick with an MX5 for sheer fun and driving experience. There are other more powerful/showy cars about but they are not the same “Bang for Buck” and most of them are just too, TOO powerful to enjoy on British roads.
I’m hoping the prices of the NA continue to increase, I might actually make a small profit if I sell it in the future.
My Mk1 is my 59th car, not found the ‘one’ yet much to the dismay of my wife. Trouble is my bucket list are all expensive to buy and maintain and I really can’t justify the outlay any more when the mx5 makes me smile whenever I drive it
The sharp growth in older car values will increasingly narrow my options. The ability to keep changing vehicles will become impossible, again, not the end of the world.
An example is the Lotus Elan M100, a year ago these could be picked up for 6k, now prices are going north of 10k, Porsche 944 S2 similar story, practically all the cars mentioned in the thread have increased way faster than inflation.
When I bought my NB 8 years ago I decided to never again buy a “tin-top”.
Got a lovely NC Icon now and I’m sticking with it, whenever I’m out and about and see Audi S4s, Golf Rs, Focus STs etc. etc. I think “Yes your car is more powerful, newer, costs more than mine, but the sun’s out and you’re stuck with that roof!”
I can’t really see a small blip in the market like this signalling the end as we know it.
CC prices go up and down all the time, it may just be the Covid effect.
An interesting view on all of this is put forward by motoring journalist Harry Metcalfe. I suggest looking for his Youtube channel; ‘Harrys garage’ and looking for his clip on classic cars and the onset of EVs.
It’s only another POV, but it’s quite interesting.
Exactly this. Years ago I used to drive a convertible to and from meetings for work, and catch the sun while sitting in traffic. I’d rather be “outside” in a convertible with fresh air than “inside” a car with the windows up and air con on.
