Do I stick or twist?

[Vinceh.]

Hi all, 

PCP is up in September and I don't know whether to refinance the balloon payment for another 4 years, or start again with a 2023 320i.  Nothing wrong with the 5 series, apart from I wish I had Android Auto and split rear seats would have come in handy.  My also concern is that with 56,000 miles, I could start to see more things go wrong (not that they haven't on the last 3 odd years I've had it).  What is putting me off the 3 series is the £620 road tax and that all the temp controls are via the infotainment.  Monthly cost works out about an extra £40 a month. 

Just wondering what others think? 

[Steve]

its good you re asking and not rushing in to it. a lot of people vision a new car on the drive.

If you are thinking of getting a new car then paying the balloon off and selling the car privately will save you money, you can repay the money used to pay off the baloon so you can then buy a new car with a bigger deposit and pay the new insurance etc.

Also, don't buy new, 2021 /2022 means you may only pay the 620 for around one year then comes down to 195 after that.. 

every time i have bought new i have lost 10-20k, so just buy a nice used car with low miles.

The above is not financial advice, just something i would do. 😉

[Vinceh.]

2 hours ago, Steve said:

its good you re asking and not rushing in to it. a lot of people vision a new car on the drive.

If you are thinking of getting a new car then paying the balloon off and selling the car privately will save you money, you can repay the money used to pay off the baloon so you can then buy a new car with a bigger deposit and pay the new insurance etc.

Also, don't buy new, 2021 /2022 means you may only pay the 620 for around one year then comes down to 195 after that.. 

every time i have bought new i have lost 10-20k, so just buy a nice used car with low miles.

The above is not financial advice, just something i would do. 😉

Cheers Steve, no chance of buying new, though had the fortune of having my fingers burnt once before.