Some of you might remember me wanting to buy a Volvo C70 two years ago, but I instead put that cash towards a few investments. I'm still driving my Honda Civic VXi 2006. It now has 96,000km on the clock and although I haven't had any troubles with it, I'm always worried about the dreaded 100,000km curse. So now I need to make a decision - do I keep it or do I buy a new car?
A few important details: the car is already paid off and costs me a few hundred bucks a month for insurance. It is cheap to maintain and low on petrol, while still having a bit of oomph in it. Now although money isn't much of a concern, the jewish blood in me says that what I pay for my car is an opportunity cost loss. I could have invested that cash or traded it.
I'm torn. I love my car - she's still good looking, goes well and never lets me down, but I have to seriously think about getting rid of her and moving on. If I did so, I'd be looking at a car in the region of R250k to R400k. I'd only ever consider a sedan or a convertible and I don't mind buying second hand with low mileage.
So should I buy a new car, and if so, what do you reckon I should be looking at?