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I drive a 15 year old Volvo 740 estate. It cost me £600 to buy, and probably won't lose a lot more. Let's face it, there's not a lot to lose really! If it's anything like the last one I had, it won't go wrong often, and will just need regular servicing, most of which I can do. There's no computer on board to go wrong, and with a Weber carb just fitted, the manual choke should make it more economical. I expect 30+ mpg on a run. Hardly what you'd get from a mini, but this won't need the same attention to bodywork rust so will be cheaper in the long run. It has 150,000 miles on it, so is probably good for another ten years before needing an engine rebuild judging from what other 740 drivers say. If I still have it then, then I guess for an initial outlay of £600 that's got to be pretty cheap to run (even if it's not exactly the most fun car to drive)!
OK, Volvo parts aren't exactly cheap but then you don't need too many of them. Insurance could be steep, but as an over 35 with full no-claims, again it's not bad.
Sneaking suspicion that Bluebottle's Granada might beat this though. How much did it cost?
Check out the Bangernomics website for some hints and tips. I think the basic idea is buy something old, unfashionable and executive like a Rover 800 or Volvo from an auction for a couple of hundred quid. Run it 'til it dies and repeat ad nauseum.
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