According to the online Urban Dictionary ‘Bangernomics is the art of buying the cheapest car/vehicle possible so that it does not lose value and waste money’. I suppose that’s okay, although I would much prefer to hear what the Oxford English has to say.
Yes I coined the word, but I certainly did not invent the concept of minimal motoring. I am sure that in 200 BC there were chariot buyers looking at the seriously pre-owned end of the marketplace to save a few sestertii.
Fast forward to 1947 when my Uncle Charlie bought a Humber Super Snipe for 15 quid. It was a massive 1930s barge of a car that he ran for a few years and when it stopped for good, he broke it up and got more than his money back. That seemed like a pretty sensible way to approach motoring.
So my first car was a £50 quid Mini in 1977. Although I never called it Bangernomics, it was all I could afford at the time, which sums up what Bangernomics stands for very well.