Peugeot 3008

LushiousLips

I'd appreciate any help on this. I have a 182 Peugeot 3008 which cost me at the time €32k. A family member has advised me that I should upgrade the car roughly every 2 years to keep up the value of it. I rang the garage this morning just to see how much to upgrade to a new car and its €7750. I was expecting something lower tbh. So if I want to constantly keep my car upgraded every couple of years I'm forking out €38750 over a course of 10 years.
Is this wise? Any thoughts, thanks

bazz26

My advice is stop listening to your family member as they don't know what they are talking about. You cannot spend your way out of depreciation, you will be back in the same position in 2 years time and 2 years after that too. Cars suffer the biggest depreciation in the first 2 to 3 years of their life.

If you want to upgrade then upgrade but you won't do it to save money.

MarkN

"Keep up the value of it".

Unless this person is leaving you the contents of a large will, excommunicate them

If topping up the number plate was free, it would make sense. Unfortunately you have to pay each time to do it and your relative doesn't seem to understand basic economics.

Rx713B

Roughly 320 quid per month to change your car ever 2 years newest tech no NCT always under warranty and propbably a service plan too -

Sounds ok to me

whippet

that just sounds bonkers !!! sure if you keep buying new cars the 'value' of the car will always be higher .. but you'll be paying for the value.

As an aside - my wife never keeps a car past 3 years - has never had one long enough to go through an NCT - its just the way she is, always buys new and tends to get bored after a couple of years and changes !

While I have 350,000km on mine. That suits me to have a workhorse for myself and a nice clean new motor for the weekends!

GustavoFring

Depreciation is heaviest in the first 3 years, but to be honest that cost to change sounds pretty decent.

It's up to you really, if you want to have a new car.
Keep the car you have for ten years and it might be worth (make up a number) 5k, so your car will have cost 32 - 5 = 27k, ignoring other costs.

Upgrading regularly will cost you as you say 38k.

Are you happy to pay that difference to keep a new car?

If I had the money I might be tempted but I don't.

MarkN

whippet wrote: »

she tends to get bored after a couple of years

Oh yeah? :pac: