Shall i sell my new car?! Advice please!

stinky985

i wish my old mondeo didnt die! i liked that and like you had no worries!
I am a worrier and as my mum gave me money for the car in the first place i feel obliged to make sure i get a decent one. Feel guilty if i sell the car get a cheaper one and use it for other purposes! I agree that id like to get a car for as near a price as i can sell the old one for. Hence the dilemma how to buy a new one!Maybe i should sell the saab and see if it sells. could always hire a cr for a week i guess whilst looking for another one, though panic buying as i didnt have a car is responsible for where i am today!:o

tomstickland

I think you need to do the maths on the costs.
What engine has the Saab got?
I've run 1.3 through to 2.0L cars and the running costs weren't that far apart in reality. There is an argument that you've already ridden the depreciation curve on the car and might as well stick with it.

How much did you pay for the car in first place?
What's it worth now?
What would replacement cost?

roswell

Change the way you look at your car may be the answer here,

Does the car allow you to earn more than not having it ? EG if you cant work with out a car you need a car, What is the current value of the Car ? if its worth £2500 and a new one will cost you £3000 are you going to make enough savings / earnings for that £500 differance (Eg insurance / fuel)


And lastly assuming your doing high milage your going to need some comfort level eg going from london to scotland in a 1996 P reg corsa is do able .. but you wouldnt want to do it every day.

stinky985

bought saab (2lt turbo) for 4500 - px will get 3000 private around 3500. So lost some yes. max mpg i get is 27-on a run. its an automatic which i dont actually feel i get on with which also doesnt help! Ins grp 14 (high!).
Looking at something around Ins group5 which will get 40mpg
Replacement would cost anythign between 0-1000. on current thinking. obviously £0 would be preferable! therefore savings to be made on ins, tax, petrol, servicing,well everything!
I travel regularly with work but i go no more than 1 hr from where i am based. On average i am out of office 2 days per week. My earnings are not dependant on the car but using my car bags me expenses and helps in running the car.
On insurance i expect to reduce that by 50% - at least £220 as that was difference from mondeo to saab. Smaller car should cost even less. MPG i expect about 15+ improvement, tax, servicing will be less no matter what. i estimate that any cost to me would be cancelled out within about 9 months in savings made based on a maximum of 1k outlay.

roswell

Go for it then, Even more savings to be made if you go Diesel.

stinky985

diesel would be preferable though cost more to buy!! further depreciation would be the trouble too if left later - march sees new registrations though i suppose you can argue it weould affect anything i buy so is all relative!
I'll get looking at what i can do. would still prefer to px my car so i dont get stuck with 2 cars and laying out even more money upfront. i dont have any cash anyway and may be a bit too risky!

newleaf07

Hi
Just a thought, I was in the same position as you (sort of). Anyway I sold my new car on finance and paid that off, and my hubby was given a company car, so he went to the local auction and got me a diesel safe for me and my son, and paid much, much less than a private sale. Before you say, yes there is risk, but we were lucky and hubby knows what to look for, as it happened it was just a px come in from a main dealer but not new enough to go on the forecourt.

Enough waffle from me, but checkout an auction,is what I meant!

Good luck

stinky985

yeah thought of that as auctions less than 5 miles from here. thing is lack of cashflow! currently i am lookinag a2-3k cars from dealers (sale on!) that i may be able to get on credit card (0% one) as a buffer so i can sell saab privately and bag some cash. if whatever i get is new enough, my mum would be happy too!

tomstickland

its an automatic

Definitely sell it then!

stinky985

yeah am going to! now what the hell should i be looking at?!:)