As someone who was in category one but is now in two, here’s my take on it. Category 1 is great only if you are either mechanically handy yourself, or you know people that are. Category one people are not really taking a risk, they have a cousin/freind/inlaw who can help them do work at low or no cost if needed, only parts. So if you are not in that social situation category one is more risky, because you may have to fork out $$$ if something major breaks down.
Nothing wrong with having reliability and low running costs on your list of priorities for car selection.
Thanks, yeah I think their appetite and experience with risk is very different from mine. It’s very much like the culture I’m from and many of my extended family are like that. Nothing’s ever officially done, everyone knows a guy who knows a guy.
But tbh for an asset that has huge safety implications, I think it has a huge impact on resale value to not document regular servicing. I might trust my cousins, but how could I expect a total stranger to if my cousins can’t put their name on it? Especially as you can’t make up for missed services later…
Anyway, I definitely feel more at ease with my decision. I do want to live frugally but I’d like to be smart and realistic about where to save the money.
As someone who was in category one but is now in two, here’s my take on it. Category 1 is great only if you are either mechanically handy yourself, or you know people that are. Category one people are not really taking a risk, they have a cousin/freind/inlaw who can help them do work at low or no cost if needed, only parts. So if you are not in that social situation category one is more risky, because you may have to fork out $$$ if something major breaks down. Nothing wrong with having reliability and low running costs on your list of priorities for car selection.
Thanks, yeah I think their appetite and experience with risk is very different from mine. It’s very much like the culture I’m from and many of my extended family are like that. Nothing’s ever officially done, everyone knows a guy who knows a guy.
But tbh for an asset that has huge safety implications, I think it has a huge impact on resale value to not document regular servicing. I might trust my cousins, but how could I expect a total stranger to if my cousins can’t put their name on it? Especially as you can’t make up for missed services later…
Anyway, I definitely feel more at ease with my decision. I do want to live frugally but I’d like to be smart and realistic about where to save the money.