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So, current car is a 2016 Octavia Estate and sitting on 60k miles and I need to decide if I should keep it and run the miles up or get rid now and trade in for something with low mileage.
Doing around 25k miles a year (unlikely to change much in the next 12-18 months) and the car has served me well. I’ve had no mechanical issues with it, and it’s a nice enough place to sit for long drives so if I was to change it the chances are I’d be swapping for something very similar.
I’m trying to decide to stick with it or if I should trade it in now for a lower mileage model. Finance wise, it cost £15k two years ago and is costing me around £270 a month in a loan (I get £4K travel allowance which covers this).
So do I just trade in for another Octavia with far less mileage that costs about the same per month (I’d trade in, pay the difference and then take another loan I imagine) or stick with it?
I'm in almost the same situation except mine's a Passat, I'm keeping mine till 6 years old (when company says I have to change). It still feels like a new car, drives well, comfortable no real reason to change other than itchy feet, but there's no real financial sense in this, better to keep putting years and miles on a 3 year old car than a one year old one, less depreciation that way I reckon.
My last car - an octavia vrs - went to 6.5yrs / 95k with no issues at all of any significance.
Check on webuyanycar to see what it’s worth. 60k is nothing these days, mine got about 85k on it and it drives like its brand new. Total maintenance costs other than normal servicing in the four years I’ve had it comes to £100 for a broken front spring!
60k is nothing for a modern car. If it's reliable and you like it, keep it. Trading it for a new one just mean more depreciation and a vehicle with an unknown history. Save the money and get a smaller loan to replace it when it's done 120k.
60k is nothing for a modern car. If it’s reliable and you like it, keep it. Trading it for a new one just mean more depreciation and a vehicle with an unknown history. Save the money and get a smaller loan to replace it when it’s done 120k.
+1
Even then that's not exactly high mileage. My c-max is upto 131k and there's nothing wrong with it.
The only 'big' bills have been. An alternator (£100 from ecp), pads and disk up front (RBC green stuff, just because!), Cambelt service (£380 at a garage), and tyres. Might at some point have the usual focus steering rack issues but that's a refurbishment job so not megabucks. I can't actually put a finger on anything wrong with it it likely to kill it. It's a numbers game as a big bill would be uneconomical even if it's repairable. But unless it's catastrophic like a timing belt then I'll probably still have it in another 5 years at 200k at this rate!
At that mileage it's just about run-in.
Keep.
Timing chains/belts are a worry. Check their renewable interval. If they go it will be expensive. Change early Anything else should be manageable. And change the oil regularly.
Then keep it.