Purchased a car nearly new in Jan 2017 for £10,500
Recently moved jobs and house and now live less than a mile away from work, that I now cycle to. The car has gone from being driven daily to weekend use / shopping etc.
In that year it's now only worth £7500 so I'm literally paying for it to sit on the drive all week, the 1st MOT (inspection) is also due in August so it could now start to cost me money in maintenance outside of servicing.
I've seen a decent used car for £2300, mileage is fine, more space, similar features, just 10 years old. So I stand to gain around £4000 from swapping cars.
The only thing that's holding me back is the fact that the newer car stands to be more reliable. But reliability hardly matters when it's doing less than 30 miles a week. The newer car would be lose more in depreciation in two years than the total cost of the used car. If the newer one breaks down its not exactly an issue as I can afford repairs and I don't depend on the car for work.
What are people's opinions?
March 26, 2018 at 10:28AM
