Trading down to release equity

aurora_borealis_2

Hi, I've got a Saab 1.9 TDI diesel automatic. Dec 2004.

I think it's probably worth about £14000.
I want to buy a cheaper car to get some cash out of this one.

Nothing too old and something with a bit of room. I'm considering a new model Astra Estate or similar.

Any thoughts?

blue_haddock

Are you sure you'd save money? by the time you've sold yours for £14000

Assuming you actually get £14k for it, a new astra estate would not be far off that price so you could be left with very little extra cash in hand.

xycom1

Plus IMO an Astra will depreciate a hell of a lot faster than the Saab - so I think you will end up saving very little in the long term?

blue_haddock

Just checked - even going through a broker you are looking at approx £14k for a 1.7 CDTi 80 Life Astra Estate so there is nothing to gain really in trading down.

plane_boy2000

The Op didnt say he was looking to buy brand new. Astra estate is a nice car - I have had a few on hire. Foucus estate is also OK and may be a little cheeper. You shoul dget either from acar supermarkert for 9 - 10 K about 12 months old and balance of warranty. just downgraded myself from a Audi A4 Cabriolet - decided that it was just to much of a luxury given the size of my mortgage!