Which option makes financial sense?

[Brandonflowers123]

So my current car, Abarth 500.

62 plate and 37k miles. 1 and half year left on pcp deal. With a ballon payement 4.3k.

I have paid some advance payment, so I only pay £1 a month

Today it was hit. It's quite and eye sore. I would say around 400/500 to fix.

I am planning to trade the car in.

From the stoneacre website I could get 5.7k fro a blonde average condition car.

Would it be worth trading?

I seen an Audi A1.
No road tax, and insurance group is half of my Abarth. So should save money in the long run?

However I reckon the interest would be 1.2k over 3 years on a new pcp deal?

[shelf1985]

Good cars, take the insurance payout, clear the finance. Buy the car back from insurance for a low price (assuming its going through insurance) fix the car and run it. You will still have a nice car and can Invest your money on better things.

Thats what i would do.

[Brandonflowers123]

shelf1985 said:

Good cars, take the insurance payout, clear the finance. Buy the car back from insurance for a low price (assuming its going through insurance) fix the car and run it. You will still have a nice car and can Invest your money on better things.

Thats what i would do.

Thanks for the reply

I don't know who it me, so I would have to claim on my own car insurance?

There would be an excess to pay.

Yes I would love to keep my current car

[daemon]

Brandonflowers123 said:

So my current car, Abarth 500.

62 plate and 37k miles. 1 and half year left on pcp deal. With a ballon payement 4.3k.

I have paid some advance payment, so I only pay £1 a month

Today it was hit. It's quite and eye sore. I would say around 400/500 to fix.

I am planning to trade the car in.

From the stoneacre website I could get 5.7k fro a blonde average condition car.

Would it be worth trading?

I seen an Audi A1.
No road tax, and insurance group is half of my Abarth. So should save money in the long run?

However I reckon the interest would be 1.2k over 3 years on a new pcp deal?

If you're not planning on putting it through the insurance have it repaired and drive on at it for the term of the agreement.


You have 18 months of "free" driving at a mere £1 a month. Why would you want to leave that and take out another PCP deal that is going to cost you £££ a month?

[steve-5snwi]

The A1 and Abarth are very different cars, i suggest you drive one before making a decision as you will find the A1 very boring to drive.

If the repair on the Abarth is only £500 i'd pay it and not worry about having to claim on the insurance.