Trade up or not?

adocholiday

Not sure if this should be in the motors or finance forum.

I have a 2010 Audi A4 with 176k km on the clock. A quick look online would say that it's worth about 7 grand. It was a UK import and has all the extras. It's been well looked after, full service history etc. and still a perfectly good car. I paid 13k for it 3 years ago and it's fully paid off.

I drive about 40k km per year. I'm wondering now what's the best thing to do. Do I keep it and continue to drive it for a few more years until it's dead? Or do I trade in now and get something newer while the car still has somewhat of a trade-in value of about 5k-6k?

It's a harder decision to make with the uncertainty about motor tax and electric vehicle infrastructure etc. Would be interested in what others think.

colm_mcm

Keep driving and maintaining it til it won’t drive any more.
176kkm is nothing

Heres Johnny

If you think it makes financial sense to trade it you're probably wrong. It's depreciating slower than a 2014/15/16 or whatever it is you're thinking of buying.
If you were to trade up 5 years now, or trade up 5 years in 2021,it will be cheaper to wait.
But if you want to trade up for a new car, work away, it's always nice to get a new car especially since you've had it 3 years, just don't think its a prudent financial choice.
I moved from a high mileage 2006 5 series that was costing me a few quid in repairs, cost 1080 to tax and absolutely drank fuel to a 2014 that sips diesel, costs a fraction of the motor tax and hasn't cost me a penny apart from regular service it needed, but it wasn't my best financial move I've ever made. Would have been cheaper to hold on to the 06.

corks finest

Keep driving her till she calves if she's not broken keep her