Advice Needed

[mberg3]

I currently have a Renault Duster 1.5, 2017 model. It will be paid off by next year June. I would like to be without vehicle debt and the monthly "extra" I will have is about R5500. My concern is though, Renault has no resale value. I bought the car in 2017 at R300 000 and it is already at only R180 000 with only 60 000km's on the clock. My fear is that if I keep the Renault, I may be hard pressed to get anything for it after 5 more years and then it is difficult to get a deposit etc.

So my thinking is buying a better brand (specifically the new Isuzu's) and I can structure the deal so that I pay more or less the same as now. My insurance will obviously increase. The Isuzu will have a much higher resale value later in its life and is also a very higher quality car. The other thing that concerns me is Renault's part availability ... I have already waited for parts in the past.

Buy a new, higher quality vehicle... good idea? Bad idea? K@k idea?

 

[fiddleleaffig]

@mberg3 This is a finance sub, so I guess you're asking what's a good idea or bad idea financially.

Drive the Renault for another 6 years or more and save the R5500 with discipline for that time. When the Renault eventually gives up, you’ll be able to buy the new car cash and get whatever you get for the Renault. Forget about the Isuzu.

My wife drives a 2008 Megane, and it runs fine. We have no concern about the resell value because we drive our cars until they are so old that no-one would want to buy them.

 

[blanksora]

@fiddleleaffig This is the correct answer

 

[nanajo66]

@fiddleleaffig Just a side note: The 1.5 has quite a high rate of turbo failure.

 

[fiddleleaffig]

@nanajo66 Ah, didn’t know that, but since OP already has the car, I guess it makes sense to keep it and hope for the best.

I have a phobia about turbos because of the repair costs. Rightly or wrongly, I decided I'll never get a car with a turbo (helps that I drive like an old lady anyways).

 

[nanajo66]

@fiddleleaffig I personally don't like the way they deliver power. A perfect example is the Renault Sandero Srepway 900cc turbo. It's not even light on petrol so I'm not sure what they were thinking there...

 

[infinitystar]

@fiddleleaffig This is the correct solution.
Only one thing to add: drive it till it's too old to repair. Dont skimp on important maintenance etc. Even if a car is old, it should always be maintained and safe.

 

[joaninha]

@mberg3 You could keep the car, save half of the 5500 towards another car in 3-4 years when this one gives in, and invest the other half. That way your "return" is that the 5500 now works for you rather than just service debt

 

[daytime]

@mberg3 Keep the car bru.

 

[gracer]

@mberg3 Drive it until it dies and then a bit more.

 

[mberg3]

Ok cool, my thoughts as well. Going to pay it into my mortgage. Did not mention that as I wanted unbiased answers. Thank you all!