Peugeot 206: 150 000km/2005 - What next?

[MrG]

Hello all,

- Peugeot 206 2005 1.4 Pop-art 3 door
- Currently paying a R1.5k installment
- R400pm car insurance
- 30 months of 60 remaining.

Good idea to look for something else? Continue with the Peugeot? What do you suggest?

If get something else, what?

Thanks for the advise!

 

[zizo911]

How long do you have it?

 

[MrG]

How long do you have it?

I have now had it for 30 months.

 

[FiestaST]

Next: 208 GTI !

 

[ahoudet]

Check what your settlement is and what trade in value would be

 

[Colin62]

If it's running well, why don't you just carry on for another 30 months?

 

[vaultedskies]

Drive it until it's paid off. At least.

 

[MrG]

If it's running well, why don't you just carry on for another 30 months?

Drive it until it's paid off. At least.

The potential of doing just this is one of the very reasons I created the thread. Would that financially be a good decision?

 

[jansdejager]

R1.5k is fairly reasonable. You will pay for changing cars and you will probably have to dispose of that one cheaply. So drive it until it gives up. If the parts itinerary is reasonable you could decide to keep it as a second, 3rd party insured car. I've had to dispose of an old car. Don't be sentimental or penny petty.

 

[Jet-Fighter7700]

R1.5k is fairly reasonable. You will pay for changing cars and you will probably have to dispose of that one cheaply. So drive it until it gives up. If the parts itinerary is reasonable you could decide to keep it as a second, 3rd party insured car. I've had to dispose of an old car. Don't be sentimental or penny petty.

Bonus question, car paid off, just got to 100000km
Giving few issues as it was initially a repo and a rental before i got it,

Same as op, what next? Go finance? Or sell privately and add a bit of cash and buy a brio

 

[ahoudet]

Bonus question, car paid off, just got to 100000km
Giving few issues as it was initially a repo and a rental before i got it,

Same as op, what next? Go finance? Or sell privately and add a bit of cash and buy a brio

If it's giving a lot of trouble, same for OP, then sell... But even then, will it cost more to run and repair or to change cars? Will the next car have issues you don't know about?

 

[vaultedskies]

The potential of doing just this is one of the very reasons I created the thread. Would that financially be a good decision?

Paying off your car is always a good financial decision. Pay it off as soon as you can and start using that monthly installment money for investing. If you start investing while you're young you'll be driving whatever car you want when you're older The delayed gratification will be worth it

 

[Jet-Fighter7700]

Paying off your car is always a good financial decision. Pay it off as soon as you can and start using that monthly installment money for investing. If you start investing while you're young you'll be driving whatever car you want when you're older The delayed gratification will be worth it

do agree with this strongly; once your money youd otherwise spend on a car you invest, you can then buy a car cash and drive something nicer......

 

[Jet-Fighter7700]

Paying off your car is always a good financial decision. Pay it off as soon as you can and start using that monthly installment money for investing. If you start investing while you're young you'll be driving whatever car you want when you're older The delayed gratification will be worth it

do agree with this strongly; once your money youd otherwise spend on a car you invest, you can then buy a car cash and drive something nicer......

 

[jansdejager]

do agree with this strongly; once your money youd otherwise spend on a car you invest, you can then buy a car cash and drive something nicer......

OP clearly has some dough already if planning to sell his car for the remaining payments and buy a new one. I he wants to do that he should get an offer and then decide. Trade-in's going to be pocket change.

 

[vaultedskies]

OP clearly has some dough already if planning to sell his car for the remaining payments and buy a new one. I he wants to do that he should get an offer and then decide. Trade-in's going to be pocket change.

His signature says he's a student, in which case I reckon the Peugeot is perfectly fine to continue driving at least until it's paid off. If he does indeed have enough excess cash to pay off the remaining finance and buy/refinance a nicer car, my suggestion would be not to do it but to rather invest that excess cash.

 

[MrG]

His signature says he's a student, in which case I reckon the Peugeot is perfectly fine to continue driving at least until it's paid off. If he does indeed have enough excess cash to pay off the remaining finance and buy/refinance a nicer car, my suggestion would be not to do it but to rather invest that excess cash.

I am indeed full-time employed while doing my honours part-time via UNISA.

I do agree with your advise. Thanks!

 

[vaultedskies]

I am indeed full-time employed while doing my honours part-time via UNISA.

I do agree with your advise. Thanks!

Well done and good luck! Studying while working full-time is not easy!