« Reply #28 on: 30 March 2015, 15:33 »
Cars are precious, but do you honestly think the novelty of not worrying about it being whacked will wear off when you finally realise how much of a piece of crap you are driving because of the threat of damage. Downgrading is ever so difficult. Dad went from 911 to a TT when they launched the last gen. That lasted 6 months. Then he was back in a 911. He also ran a golf to keep miles off the Porsche, but that was quickly binned for a 3 which he felt happier in.
You will lose the novelty of cheap and cheerful. 4k is also a huge hit. That makes your 500 banger actually cost you £4500 so is it worth it?
Your dad is obviously not skint and is a car enthusiast(?) so it's not like he's gone to a £500 sh!tter that's already covered in dents and marks. He's gone to another mint condition new car but just not one he's as comfortable with or has any particular attachment to. Merely a convenience purchase but still something he wants to keep in good condition.
£4500 isn't quite the figure as the £4k depreciation has happened no matter what, that's just normal new car depreciation and is gone, written off. The £500 isn't on top if the Golf goes, if the Golf has finance on it then I'm sure at least £500 could be saved there alone (but we won't go into potential repair costs of an old heap as some you run for years and nothing goes wrong and some are a nightmare from the start - and probably that's why they were being sold in the first place).
Cars are always a financial drain but are generally preferable to taking the bus...

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