Should I...

Hi all, I have a decision to make this week about my ST.

I am thinking about trading in for a new model. I have been given a price of 18.5k for a brand new ST3 by ford, with military discount.

Ford have offered me 11.5k for my 07 plate with 28k miles on the clock. (I owe 10.5k on it).

I'll end up paying what I currently pay (370 a month), but for an additional 18-24 months than if I continued paying my current car off.

The reason I am thinking about trading in is that I fancy a new car, plus my car is coming to the end of it's warranty and as such I expect the value to start plummeting. Another thing is hopefully in a years time the new car will still be worth 18kish, so I'll be in positive equity if I wish to trade in again.

Is it worth me trading in and getting a new car? I like the idea of three years worry free driving with a warranty, plus having more potential to trade in for a new model every year if I wish.

Is the facelift (I'm after White or black) worth the extra dosh? I'm thinking about future values compared to the pre facelift.

Any advice appreciated!

QUOTE(B_H100 @ 22 Nov 2009, 01:09 PM) <{POST_SNAPBACK}>I know what you mean, however I'm thinking that if after a year I am not happy with the payment, I should be able to sell/give it back/trade in for another model, without losing anything. Am I thinking that through right or have I missed something?

I don't have any commitments such as mortgage or kids, might be getting a mortgage sorted next year though but should be able to pay that alongside my car.

well if your ok with being strapped up for 17.5K on a car then go for it

A new car is the worst investment you'll ever make, if you are looking at it with a view to breaking even etc then I'd suggest you give up
Save the cash, buy a house, be set for life. Or,
Buy car, keep having to change car every few years, no house.

I think I bought an too early, I should've kept my cash and by now, I'd have been able to buy a house but well, we all know what happened instead

QUOTE(yoinkster @ 22 Nov 2009, 03:03 PM) <{POST_SNAPBACK}>A new car is the worst investment you'll ever make, if you are looking at it with a view to breaking even etc then I'd suggest you give up
Save the cash, buy a house, be set for life. Or,
Buy car, keep having to change car every few years, no house.

I think I bought an too early, I should've kept my cash and by now, I'd have been able to buy a house but well, we all know what happened instead

I see where you are coming from. So you reckon that in a year a year old fcous st won't be worth 17k?

QUOTE(yoinkster @ 22 Nov 2009, 03:03 PM) <{POST_SNAPBACK}>A new car is the worst investment you'll ever make, if you are looking at it with a view to breaking even etc then I'd suggest you give up
Save the cash, buy a house, be set for life. Or,
Buy car, keep having to change car every few years, no house.

I think I bought an too early, I should've kept my cash and by now, I'd have been able to buy a house but well, we all know what happened instead

I see where you are coming from. So you reckon that in a year a year old fcous st won't be worth 17k?