I currently have a 306 estate hdi in mint condition with 178,000. The only thing not working on the car is the aircon as it was too expensive to fix.
According to parkers the value is around £2500 for a this car in 'poor' condition.
(Good cond is £2800).
I love the car and its been great. The only thing is that im planning on getting my 1st house within the next 18 months and expect to not have the luxary of being able to afford another car for a while.
My train of thought is do I get another car now while I have some cash (and time to save up again before I buy a house) and while the car still has some value, or do I keep running it in the hope of it staying reliable (but taking into consideration the miles)
any advise welcome.
Also I have enjoyed the space of an estate and it came in useful a lot when I first bought it. However recently Ive not needed it that much so I am considering a smaller car with foldable seats or another estate. Im also interested in auto boxes due to heavy traffic these days.
thanks
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Several interesting intersecting considerations here. The main one to my mind - this is not a car question, but a house question.
You estimate the value of the car, circa £2.5K - with 178K miles & broken air con - not that I'm argiung with the esteemed Parkers guide, but I'd say the car is worth more to you as a known quantity than as a p/ex (I'd suggest you'd struggle to get £1200-1500 for it as described)
The next (much bigger, imho) question is when to buy the house - it's almost odds-on that prices are going to dip - that amount from the average house price that would buy a very nice new car.
This will sound very boring old codger-ish, but keep your car until it dies - the time it lasts will almost certainly cover the depreciation on a new car if you'd bought it the new car now - then see how house prices pan out in the next year - you may well get a new car for 'nothing'.
Conversely, if house prices miraculously maintain themselves, the cost (£10-15K?) of a new car might stymy your house buying ambitions.
Edited by woodbines on 13/12/2007 at 18:44
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Keep the car until it dies. 2.5k sounds like quite a lot...
Why spend 10k on a car if you're saving for a house.
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sell sell sell if you can,youve had the best out of it so give the headaches to someone else before they all come at once
dont forget in 2 years time come the revolution houses will be 2 for 1
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Very wise words by woodbines re house buying. Do a Google search on "buy to let crisis" and it will turn up many links like the one below. Flats in some areas have already fallen by up to 40% already!
tinyurl.com/2vv9z6
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I would have thought if the car was going to give you major problems it might have already. Sounds like one of those ones that will just keep going.
Personally, I would give it a damn good service/fluid change including gearbox oil and coolant,
maybe get a compression test to see how the cyliners/pistons are holding up, keep up a sensible oil change regime...and use it till it won't go anymore.
And buying a house now...?!
Edit: I was wondering today what had happened to you BB. Don't remember reading any of your posts for a while, although that could just be coincidental. Glad you're still about though.
Edited by mss1tw on 13/12/2007 at 19:23
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In general, not just with cars, at the moment, with the way the country looks like it could go, id hang onto your money and put it away somewhere incase you need it later on.
It sounds like a good car so id keep it a while longer.
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Keep it. Your Peugeot seems to be a really good car to you so despite the aircon issue (not that much need for it now really) and coupled with the impending move when an estate will be in demand, I'd hang on to it and get it serviced and checked over for winter. I'd seriously hang fire on buying any sort of property. If it was me I'd move my money somewhere safe, modestly profitable and accessible and wait for the current economic uncertainties to unravel.
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Thanks for the replies. I was waiting to see what happens to the market before buying a house and was planning on spending around 5-6 k on a car thats only a few years old to get that extra life out of the car.
However, the problem is that i may be swapping a real good car for a lemon.
The thought behind it is that if i get 1 now id have time to save up that money again before I buy a house whenever that may be. Or on the other hand keep the car that may last another 5 years?
Its a tough decision and I agree that the parkers guide may be optamistic but in a couple of years the car may be worth a lot less with a lot of problems
im stuck really
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Sorry I'm probably missing the point but why not just save the money aside, resolve not to spend and replace the Pug when it becomes uneconomical to repair/run.
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I sold a really good car once on the assumption that the newer one I was buying would be a step forward.
I was wrong, the new car was a dog, I lost £2000 in three months on it and then had to find another good car with the tiny amount of cash I had to spare. I did find another good one by cahnce which kept us on the move.
Keep the Pug and look after it.
Better the devil you know as they say!
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"However, the problem is that i may be swapping a real good car for a lemon."
Absolutely - this is the point. I suggest you keep it unless / until it goes wrong in such a way as to cost more to repair than it's worth. It's a known quantity and may well go on for another year or more. Good luck!
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thanks everyone
i think ill stick with it and look after it like i have. I do all my own servicing and change the oil every 5-6k
Its just had all the filters changed so i think ill change coolant and gear/brake fluid etc and hope it carrys on looking after me
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Good choice.
306's are capable of starship mileages if properly maintained. They're a bit like the 405 in that the trim looks a bit fragile, but the bits that count are bulletproof.
I know someone who got 180k out of an XSi petrol, and it still drove really well. Diesels with over 200k are not uncommon.
If you've got a good one, hang on to it!
Cheers
DP
--
04 Grand Scenic 1.9 dCi Dynamique
00 Mondeo 1.8TD LX
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Now really isn't the time to buy a house or get a mortgage! There isn't much noise about it at the moment but the run on Northern Rock was unprecidented & there is uncertainty in the city. According to my friend who is a partner in one of the largest banks before you ask. Wait 12 months is a sensible view, especially as a lot of 2 year fixed rates are going to end next year, people will be unable to pay theire mortgages & there will be high levels of reposetion.
Regarding your car, if you know it's good, it's worth more to you than it will be to anyone else & the cost of change will be high so I'd stick with it if you're saving up.
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