Keep the AU or upgrade to an AU3???
It's that time again - Finance Contract is up on the XR8 and I need to decide what to do... It isn't as easy as it sounds :hrm:
I have a modified AU1 XR8 (1999). It's done 36K's and is in mint condition.
My options are refinance the final "balloon" payment and keep the AU1 for another 3 years, or trade it in and upgrade to an end-of-line run out AU3. (It's too hard to sort something out so I can wait for an AV, they won't be available until October, & I need to so something in June).
The question isn't which car is best to have parked in the garage, it's how have you guys sorted out in your mind what is the best financial deal.
As I see it, you've got car finance companies (Ford Credit, meaning high interest charges, but the ability to have balloon payments etc.) vs paying for the car with the mortgage (lower interest, but over a MUCH longer period). If you use the mortgage, you can't use that money for other BIG things (like better house, second house - whatever).
Then you've got keep a car for 3 years vs keep a car for 6 years. Has anyone figured out yet which gives the less loss in value on cars like XR8s? "Own" two XR8's in 6 years, or one.
So - what have all the brains out there thought about this issue in the past?? What deals have you wished you'd never done, and what deals have you gone through with and been happy with all the way?
Keen to see what the consensus is here.
BA XR8 Auto with Luxo Pack
LOVELY !!!!!!! ;-)