Short term Lease Vs Cheap second hand

PierremontQuaker03

Hi, thanks for looking.
I have my Mazda CX-5 in the garage currently being assessed (170,000 miles on the clock) and I think the turbo has gone - so the car is Kaput. I am not throwing any more money at it.  The insurance is due next month and the MOT is due in Jan-21. So my first question is...as I am going to get a quote for the repair - which I think will be in the thousands, (if google is right) - so where best can I get rid? I dont want to move the car on, without being honest and open about the issues with it. Or is it best to do a trade in now and get a another car, which I can then trade in later on against the car I really want?
Ideally, I did not want to buy a car until the middle of next year (when I have some money coming in), but I need a car to get to work and to get around.  So I was thinking either buying a car for around 1k (a complete mine field I know)- then trading this in when I get the next car 6 months later - or doing a 6 month lease - if the costs are viable.  Does anyone have any advice -  would imagine a 6 month lease might be expensive??
Many thanks for any advice.

AdrianC

Phone around the local breakers and see how much they'll give you to collect it - or chuck it on eBay, 99p, no reserve, with the issue declared, and wait to see where it ends up - somebody may have it to break or repair.

Any PX now that gives you anything non-trivial would be if anybody's still doing a scrappage deal against a brand new car, which makes no sense as a stopgap.

Why not finance the car you want now, then pay it off when you get the money in?

Herzlos

Presumably, a new/reconditioned turbo won't cost you much more than £1000, meaning you can stick with the devil you know. If you sell it with a dead turbo you're going to be giving it away for scrap.

frost500

Depends if you like the car? Selling the car with turbo failure will be the trade value, less the cost of the repair (note: trade value is private value X 0.65).  My advice would be to repair it and use it (the repair will be 1k+). It will be better than any car you can buy for 1k.

I had a recon turbo on my MK1 S3, cost 1200quid with a warranty for 2 years. I love the car, it is mine, with no finance involved.

PierremontQuaker03

frost500 said:

Depends if you like the car? Selling the car with turbo failure will be the trade value, less the cost of the repair (note: trade value is private value X 0.65).  My advice would be to repair it and use it (the repair will be 1k+). It will be better than any car you can buy for 1k.

I had a recon turbo on my MK1 S3, cost 1200quid with a warranty for 2 years. I love the car, it is mine, with no finance involved.

yeh looking at the cars around for 1k - I am taking a massive gamble - hopefully if I do repair it I will at least get most of my money back when I trade it in, in 6 months time.

mgfvvc

When I was looking Google bought up a bunch of sites that will quote you a value for the vehicle as scrap, e.g. cartakeback.com or, if you would like it to benefit a charity, giveacar.com