For a few years I was bangernomist. I had a car I bought for £700. A £900 car replaced it. What went wrong then?
The key to bangernomics is in finding a car with a lot of remaining value in it and then depleting that value mercilessly. That means you buy an unloved car that someone has foolishly cared for long after the repair costs exceeded the market value. The classic bangernomic car is a 17 year old Vectra which is worth about €500 but is still as shiny and nice as the day it left the showroom.
It might have about €2000 of value locked inside it. It was the last car of one of those sensible, cautious old guys who understood deferred gratification and respect for resources (or just their own money). I don’t think these chaps will Continue reading “Theme: Economy – Bangernomics”