To sell or not to sell

[greesie]

Hy guys just wanting to get a few opinions on sellin my nav,
I owe 14000 on it, and it's a 2004, just struggling to afford it on apprentice wages and using it as a city driver,
Was thinkin of selling it and buying something else more cheaper to run but don't really no if it will benifit me at all, was thinking of an older gq for 6-7000 and having the money in the bank left over to pay of the loan, but don't no if it'll just cost me more having an older 4wd,
Main reason can't afford it is because of insurance costs and loan repayments,
Haha just really thinking aloud

 

[KraftyPg]

Any car is a potential money pit but one thing worth considering is that no matter how bullet proof any car is reported to be as it ages it's going to cost money because things will go wrong with it. If it were me paying a loan off I'd try my hardest to keep the newer vehicle (even if it was a d22) but I don't know your financial situation.

 

[greesie]

Yeah haha money pits they are!
And Spose as you say an older car could end up having more major issues, maybe it's better to just tough it out for a few years and pay it all off then look something else

 

[Old.Tony]

I'm not sure you'd be able to sell it if you have a loan on it anyway - you may have to pay out the loan with the proceeds of the sale.

I'd be wary of getting something old & unknown too. It's not easy but on the other hand, it could get a whole lot tougher.

Any chance of using a pushy instead, to save on fuel costs?

 

[Raziel]

Personally I would keep the newer. With the older car you'll be wishing you keeped the nav. A gq's running cost (repairs and maintenance) wouldn't be cheap and cause more frustration than the frustration in affording the nav.

Plus how long can you keep the gq vs the nav. Meaning sell the nav and lose a bit in the sale, then buy a car with half the lifetime and increased maintenance, just to require another car in the not to distant future. (it might cost you 6-7000 for the gq but if the nav last another 10years and the gq only 5years then you will spend more over 10years by going with the gq)

 

[will]

+1 for keeping it if you can, have you thought about refinancing at a lower rate over a longer period? might be worth looking into.

 

[greesie]

Hahah cheers Guys for input, gonna take your advice and try too just continue paying it off and keep it I think, wont rush into any decisions just yet anyway.

Thanks again