should I stay or should I go?
Discussion
First post for me, so excuse if this appears in the incorrect forum page.
I'd like to think I'm no dummy when it comes to understanding finance and money, however I have a real problem in making a decision as to whether I should stay with the car iv got or sell and buy a new and if PCP deal.
Some background.
Current car - Hyundai i40 tourer / 61 plate / 32k miles.
No outstanding finance
Purchased for £14k 2012.
Part ex offered 2 weeks ago from motor point £7,800.
Whilst I'm enjoying not having to pay the usual monthly did on a car, I do have an itch to change.
I have tried to work out a straightforward calculation, to put my mind at ease, to work out if I'm better getting rid just now, or just hold onto to it.
1. Should I just keep the car and benefit from no dd.
2. Should I sell or part ex, before I lose any further value on the car?
I must have worked out 10 different calculations, the latest one being, selling, banking the money and taking out a PCP deal.
Some help and advice would be appreciated.
I'd like to think I'm no dummy when it comes to understanding finance and money, however I have a real problem in making a decision as to whether I should stay with the car iv got or sell and buy a new and if PCP deal.
Some background.
Current car - Hyundai i40 tourer / 61 plate / 32k miles.
No outstanding finance
Purchased for £14k 2012.
Part ex offered 2 weeks ago from motor point £7,800.
Whilst I'm enjoying not having to pay the usual monthly did on a car, I do have an itch to change.
I have tried to work out a straightforward calculation, to put my mind at ease, to work out if I'm better getting rid just now, or just hold onto to it.
1. Should I just keep the car and benefit from no dd.
2. Should I sell or part ex, before I lose any further value on the car?
I must have worked out 10 different calculations, the latest one being, selling, banking the money and taking out a PCP deal.
Some help and advice would be appreciated.
Thanks for the response, funny actually I have considered both the replies.
One saying "don't b daft just keep the car, its not costing you anything"
The problem with this one is that if I do decided de to keep, I can almost guarantee in a year or 2 time I'll want to change.
Also the thought that " stop being a penny pincher, go and enjoy the money you've earned"
I don't know still a toughie.
The thinking process continues!!
One saying "don't b daft just keep the car, its not costing you anything"
The problem with this one is that if I do decided de to keep, I can almost guarantee in a year or 2 time I'll want to change.
Also the thought that " stop being a penny pincher, go and enjoy the money you've earned"
I don't know still a toughie.
The thinking process continues!!
Sorry for the delay.
Some very useful insights and comments for u all.
Brigland especially like your insight.
Financially the decision to get a new/newer car wouldn't take away anything from my family life, couldn't allow that to happen, not for a car.
It terms if some if the other comments questions.
My decision to buy the car, came from looking for a car which would give me peace of mind in terms if reliability, gave me Max boot space for our 1st child, and also space for the dog.
Added to that I liked the look of the car, inside and out.
In terms of what I would look to change to, well that's a whole other thread!!
I jump from car to car, budget to budget, but the comment made about jumping simply to another similar car, that is a few years newer, does make sense.
The financial reality would be if I did decide to make a move, the monthly budget would be anywhere from £300 range
Hopefully this answers most questions asked, however I'll have another read of the thread and give more info if needed.
Thanks again.
Some very useful insights and comments for u all.
Brigland especially like your insight.
Financially the decision to get a new/newer car wouldn't take away anything from my family life, couldn't allow that to happen, not for a car.
It terms if some if the other comments questions.
My decision to buy the car, came from looking for a car which would give me peace of mind in terms if reliability, gave me Max boot space for our 1st child, and also space for the dog.
Added to that I liked the look of the car, inside and out.
In terms of what I would look to change to, well that's a whole other thread!!
I jump from car to car, budget to budget, but the comment made about jumping simply to another similar car, that is a few years newer, does make sense.
The financial reality would be if I did decide to make a move, the monthly budget would be anywhere from £300 range
Hopefully this answers most questions asked, however I'll have another read of the thread and give more info if needed.
Thanks again.
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