Selling current car for cash and buy a car on lease?

parking_question_chap

Sell the car for £7k and replace with a Honda for the same money. Job done.

mgfvvc

It's a good way of flushing money down the drain. I'm driving an 8 year old, 80,000 mile Ford, which is still reliable and an 8 year old, 120,000 mile Peugeot, which I haven't had long enough to evaluate it's reliability, but I think it's OK. As someone else said, sell the Vauxhall and buy something from Honda (Toyota will also do well). Maybe spend a little more, but don't buy newer than 3 years old and keep the new car for a long time. If you are saving for a mortgage, new cars will dent your savings severely and changing cars unnecessarily also dents your savings.