Jump to content

The "Car loan paid off" dilema


Baj
 Share

Recommended Posts

So, 5 years of payments and my 02 Passat is mine in June.

 

What would others do in this situation, I've checked and its worth around £3k, £2.5k if px at a dealer.

 

I dont mind pxing it, but id rather go for a cardealer finance than a loan, gonna get MUCH better rates

can afford about £200 a month, since thats pretty much what the last car was

 

Should I keep it and run it to death, or cash in now and upgrade? Any other ideas or opinions welcome.

Link to comment
Share on other sites

So, 5 years of payments and my 02 Passat is mine in June.

 

What would others do in this situation, I've checked and its worth around £3k, £2.5k if px at a dealer.

 

I dont mind pxing it, but id rather go for a cardealer finance than a loan, gonna get MUCH better rates

can afford about £200 a month, since thats pretty much what the last car was

 

Should I keep it and run it to death, or cash in now and upgrade? Any other ideas or opinions welcome.

 

Thought you'd already done that.

Link to comment
Share on other sites

Obviously, I can't speak for your personal preferences, for instance, you may like to buy new. From an environmental perspective, buy a good secondhand smallish, economical vehicle and run it into the ground, or until it gets within sight of costing you more to run than it is worth. Then recycle it.

Link to comment
Share on other sites

hmm, interesting... I dont know much about bmw's if I'm honest, would I (if going from a passat) be looking at a 3 or 5 series? is that right? whats the difference?

 

One's bigger than the other. Christ you really don't know cars!

 

On a serious note BMWs go and go and go and go...

 

...then eventually blow up

Link to comment
Share on other sites

3 Series is a little bit smaller that the passat, However I am impressed with the boot space I get from a saloon. 5 is a very large car

 

I can also say the the fuel economy on my 320D is actually very very good. (and it is not even a ED model)

Link to comment
Share on other sites

One's bigger than the other. Christ you really don't know cars!

 

On a serious note BMWs go and go and go and go...

 

...then eventually blow up

 

thats true, I spend more than half of my working day on the road, my bmw 523 has 210k on the clock and still runs like new. I probably ought to change it but just cant be arsed, if the passat is going ok use the 200 quid youre not spending every month to whack your mortgage down a bit. Or take your bird out more often ;)

Link to comment
Share on other sites

So, 5 years of payments and my 02 Passat is mine in June.

 

What would others do in this situation, I've checked and its worth around £3k, £2.5k if px at a dealer.

 

I dont mind pxing it, but id rather go for a cardealer finance than a loan, gonna get MUCH better rates

can afford about £200 a month, since thats pretty much what the last car was

 

Should I keep it and run it to death, or cash in now and upgrade? Any other ideas or opinions welcome.

 

To be honest, it won't lose much more value for the next 5 years, so unless there is anything major wrong with it (cambelt, tyres, discs etc), then you may as well keep it as a commuting wagon and destroy it. I wish I had done that more in the past!! Cars are such a bloody waste of money.

 

Having said that, the 320d BMW will give you almost 60mpg, so if you did have any costs coming up, it's worth looking at the saving you'd get in fuel and BMW's 2 year servicing plan etc.

Link to comment
Share on other sites

cheers PB.

 

Yeah, I'll keep it now for a while longer at least, a) the ex-wife is saying she wants half of whatever i sell it for, the ***** and b) i sorta re-ended someone yesterday and ****ed my grille up, so need to get that fixed first :)

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...

Important Information

View Terms of service (Terms of Use) and Privacy Policy (Privacy Policy) and Forum Guidelines ({Guidelines})