Should I downgrade my car?

[trevayne]

@dangelohomenick Honestly my thoughts exactly.
But that same line of thinking had lead me down the ‘I should get a v8 whilst I still can’ - thankfully that didn’t materialise.

Well I’ve got a mohair soft top on it which is water tight and I’ve got a hardtop that looks atrocious but is water light as well.
At the weekend I cleared a spot in what was the turf shed, so it’s open ended but out of the wind and rain!

 

[dangelohomenick]

@trevayne Good you have a solid roof.

Sills and arches are vulnerable too though - hence why I mention indoors.

 

[trevayne]

@dangelohomenick Oh I know I went to look at plenty before landing on this one.
My gen also rusts at the front chassis legs too just to make things worse but we’re all good on that front thankfully

 

[1235784truwp]

@trevayne Sell both.

Work towards your dream car as a savings goal.

I get sentiment but its a money pit. Be sensible.

 

[braum]

@1235784truwp I follow car prices very closely, especially on classic cars. I'm tempted to sell my nice daily to buy my dream classic and daily run about.

Classic car prices are always going up so you could chase your dream car forever and never get it. Especially in the current climate, ICE cars are banned from 2030 so they will jump significantly then, along with every year something becomes 30years old and a classic and jumps a few grand overnight!

 

[1235784truwp]

@braum Fair point.

 

[buddykisses]

@trevayne Hard to give good advice without knowing your income or how you are managing financially. But here's my two cents

I would view the Mazda as a hobby or luxury etc as you're clearly passionate about it.

Tally up how much it's costing you and if your comfortable losing that money every year on a hobby then keep it. Life is also for enjoying. But if it's beyond your means then sell it. You can always buy another one in 5 or 10 years, they've produced millions of the MX-5. You will be able to buy another, so lose the FOMO.

The Golf is a weird one because you drive it so infrequently. Personally I would keep it but with the plan to not change it for many years as long as your driving routine stays the same.

I wouldn't bother downgrading to free up €6k unless you were desperate for cash or really struggling month to month and wanted the loan reduced.

Last option is to change the Mazda to full insurance with no milage limit and use that as your main car.

 

[lee220187]

@trevayne I thought having a mid-life crisis was a pre-requisite for buying an MX-5...

 

[trevayne]

@lee220187 I’m already bald so I look like I’m having a mid life crisis when I’m really only having a quarter life crisis.
Mid life crisis will probably require a Porsche though at this rate

 

[lee220187]

@trevayne Haha fair enough. Sorry for your loss

 

[lonelybuthopeful]

@trevayne Yes

 

[rochelle]

@trevayne I don't get it?

Just drive the Mazda full time, you only do one long trip a week and you get paid milage for it.

 

[trevayne]

@rochelle Legally I need a daily driver for my insurance on the Mx-5 to be valid, and because it’s an 1998 Japanese import I can’t get insured on it as a daily driver.
It’s an extra €130 or so a week onto my paycheque for 300 and something kilometres.
I’ll be using that extra pay against the car loan on top of the standard €50 a week I’m paying

 

[rochelle]

@trevayne If the milage limit on the Mazda is enough for you I'd buy the cheapest possible piece of shite and insure that as the main car and just never use it.

 

[trevayne]

@rochelle I think that’s technically illegal but an all too common practice.
If I was to change I’d still use it for my motorway commute, which funnily enough is over half the driving I do any week.

 

[hal16]

@trevayne I think this all depends on your individual goals and situation. Have you got a goal of buying a house or starting a business etc? What % of your income are you spending on your loan, insurance, tax etc?

Are you happy that you’re balancing your costs with your goals? Yes, great keep the cars! No, get rid of one or both.

Cars can be a money pit and I would advise driving a safe but cheap car until you have reached some of your major financial goals.

 

[jayre]

@trevayne Car guy here so I know what you mean about not selling the Mazda.

If you only use the VW for 1 day a week maybe sell it and get another golf that's a bit older or a polo as the work car and use the savings to take something off the loan.

Another option is sell both and get a BMW 2 series. It's a decent middle ground of small, fun to drive 2 door and practically vs the Mazda.

The F22 BMW 2 series coupe is RWD, light and a fun drive, affordable and reliable.

 

[reasonwithme]

@trevayne Dream car and savings usually do not go well together. You either make a financially responsible decision (which would be keeping just the golf) or you have fun with the cars you dream of, and pay the price.

Trying to both make financially responsible decisions and driving dream cars would in the end frustrate you and also not save properly. Decide one path and stick to it.

 

[joenavy]

@trevayne Dude, sell the Golf, daily the MX5, i did that for years. It's there to be driven, you may aswell make the commute fun and pay some debts at the same time.
Maybe, if you really have too, buy one of those clip on hardtops and a big coat. Happy days

 

[trevayne]

@joenavy I’d still need a daily for insurance, and if I was going to change I’d like something capable of motorway miles.

But honestly I just love driving the Mazda, I may be freezing with condensation dripping off my ugly rattle can hardtop but I’d take that over the boring golf any day!