Trade in or keep paying it off

[aigle2am]

Hi guys

Bought a 2013 Polo Vivo 1.4 Comfortline in September 2014 using Standard Bank finance and really not a fan of the sluggish engine. Was looking at the VW site and they seem to have the 1.6 on special. Would it be wise to try get a new car or play safe and pay it off?

 

[Hemi300c]

If you do your homework, depending on how bought, you will find you will lose a fortune if you trade in now.

 

[Heisenborg]

Wont be much of a diff between 1.4 and 1.6 and losing 30k (im guessing) in the process

 

[ToxicBunny]

You bought it less than 6 months ago?

You will take a monumental bath if you try get rid of it now...

 

[aigle2am]

@Hemi300c, when would be a good time to trade in?

 

[Hemi300c]

Probably only after 3yrs then you won't lose on the finance side and if the car is still in good condition with reasonable kms.

 

[sybertiger]

what does the contract says about modifications?

if u can do them,maby do it and squeeze more power out of it

 

[HapticSimian]

@Hemi300c, when would be a good time to trade in?

If you bought with no or a small deposit, trade-in normally becomes viable after 2.5 to 3.5 years. As things stand you would've barely dented the capital amount on your loan, as your instalment is initially skewed heavily towards settling interest. In other words, you'll still owe the bank very close to purchase price on the car, and you'll likely be offered between R25k and R35k less than that on trade-in.

 

[longboy]

Trade it in. I would be ashamed of owning a Polo.

 

[srothman]

Hi guys

Bought a 2013 Polo Vivo 1.4 Comfortline in September 2014 using Standard Bank finance and really not a fan of the sluggish engine. Was looking at the VW site and they seem to have the 1.6 on special. Would it be wise to try get a new car or play safe and pay it off?

I'm curious though, but why buy it if you're not happy with the engine? Surely you would have known what you're getting yourself into when you test drove it.

You did test drive it though, didn't you....?

 

[phoenix99]

Trade it in. I would be ashamed of owning a Polo.

This a thousand times

 

[silver6933]

Go get a trade in price and take it from there. You bought a used car. Depreciation will not be as great as on a NEW car.


There is not much difference in power 1.4 - 1.6

A yaris(1.3 i think) is faster than the 1.6 polo

 

[ToxicBunny]

Go get a trade in price and take it from there. You bought a used car. Depreciation will not be as great as on a NEW car.


There is not much difference in power 1.4 - 1.6

A yaris(1.3 i think) is faster than the 1.6 polo

Its not the depreciation that is the issue at this point... the issue now would be that the finance arrangement would not have paid of much of the capital portion yet... it would be heavily skewed towards interest at this point.