Car Change dilemma

[CAPP0]

Wondering what to do.

I have a 2006/56 L322 Vogue, petrol V8 with the Jag engine, which has just notched up 70k miles. I've had it for nearly 2.5 years and I love it - as does MrsC. Best all-round car I've ever owned and I can't see me wanting to be in anything else just now. I've put 30k miles on it and it's been very very reliable - the only fault I can recall is that I had to change one of the front suspension bags, which split (I changed both). There was a problem with the zircon when I bought it but the dealer sorted that.

I'm always aware of the "equity" levels in my cars and I give some thought to how that balances with replacement time/replacement cost etc. It seems that the car is currently worth in the region of £12-15k depending where you look.

In order to make any change worthwhile, I would have to go to at least a 2009 model, with less miles than I have now, and from a brief glance on AT it looks like that would cost me £30k or more - which is a heck of a hike.

So now I'm not sure what to do; stick with this one for the foreseeable (and clearly it will only decrease in value) or make the jump now whilst my current car is still worth something.

Interested to hear your views!

[TLandCruiser]

would the replacement car be funded as a cash payment or finance? The reason I ask is that I do not like to have cars on finance so for that reason I generally drive older cars that I can pay for cash and just fix them if they go wrong and if your Range Rover has been reliable, I would keep it.

If it was a cash payment, I still think I would keep your current car and thats only because I would rather have the cash in my bank account and not because I think I'm some kind of finance guru or anything, but I would rather the cash sitting in my bank account in case I needed it for something else. so I guess it depends on your finances too?? Everyone's different and has different requirements so Good Luck with what ever you do!

Edited by TLandCruiser on Thursday 2nd January 13:55

[CAPP0]

Thanks - yes, I'm the same really, I like to keep cash in the bank for rainy days. I have a reasonable chunk put away against car replacement but I don't think it's enough to meet what I outlined above - so the rest would have to be financed one way or another. I do have cash in lieu of company car, a decent wedge, which is where the current savings came from and how I could finance the rest, but of course that depends on remaining in employment, which very few of us can guarantee these days!

[NotBenny]

If you keep your current one for another 3 years it might lose another £6-8k tops. If you spend £30k on a slightly 3 year newer one you'll probably lose that £30k in the next 3 years.

Keep the current one I say.

[KieronGSi]

Early LR4s are going for about 25k and should lose between 5-8k over 3 years as well. I know it's not quite a range rover but they are fabulous vehicles.

[CAPP0]

KieronGSi said:

Early LR4s are going for about 25k and should lose between 5-8k over 3 years as well. I know it's not quite a range rover but they are fabulous vehicles.

Yes, a D4 is one of my backup plans!