Trade in or re-finance

[Mengs]

I bought a 2007 Triton 2,4 DCab in 2008. The motor plan has expired and there are only a couple of months till a R60k residual is due. Caught between refinancing and keeping as its only got 97000km on clock, or trading infor a newer car. TheTriton chews fuel and if anything goes wrong it may cost me and I have my eye on a demo ASX GLX with only 10000km on clock, warranty and motor plan. What to do, what to do?

Anyone drive the new ASX, happy?

 

[JFE]

Just on the idea of a residual I’d say refinance. Trade you balloon the cost and before long you’ll be in a position that you would have to trade to keep head above the water and never able to settle your deeds. Refinance and take extended warranty and service plan with it. My 2c worth.

 

[benniejordaan]

I agree JFE. Refinance and get the car paid off. Chances are you will end up financing a higher amount with a huge residual again and just keep slipping back. When you want to tade/sell that car will be worth less than you can get for it.

 

[Koper]

Agree with Bennie & JFE here.

 

[Ant86]

Refinance, pay off , avoid getting yourself into a HPA again ...

 

[Mengs]

Thanks for the feedback . The fuel on this vechile is killing me, about 450km to a 70lt tank, I live about 40km from my office and see 1 or 2 clients a day out of office. I see the vechile as a tool for generating income and not as an asset, one day ill buy myself a proper bakkie for fishing/camping etc, its just not practical at the moment. I also deduct a fair portion of costs as a expense, but the tax man is making this harder and harder! Soon they going to want video evidence!

I posted this as I used to be indecisive, but now I'm not so sure...

 

[FLUKE]

The extra you'll have to pay to afford the ASX should more than cover the difference in fuel cost. The R60k you still owe can be paid off in a few years less than the ASX. That means you're in a position sooner to buy that dream leisure vehicle you want.

Do yourself a favour and look at the Total cost of credit if you finance the R60k and then look at the total cost of credit if you finance the ASX, then decide if you could ever drive out the difference in fuel costs. That's not to mention how much faster the capital value depreciates on a new car verses an older bakkie.

I have a Lancer and as much as I love the car mechanically and comfort wise the insulation is pathetic and the tire noise is headache material on a 300km trip. Not sure if they've done a better job of insulating the ASX.

 

[fishalitis]

look at option of settling balloon on your bond and paying full vehicle instalment less mechanical warranty into your bond.

You should save a ton of interest on your bond and it should reduce the term considerably.

Not sure if Mitsu... have sorted the cracking head problem yet so look at a mechanical warranty which would cover the head replacement with labour should it happen and check that you can get a replacement vehicle while the repairs are in progress.

 

[Kipi die kingfisher]

@ Fishalites, The cracking head problem only occurred on the 2.8l diesel motors, a stupid design to begin with if you ask me.

Any way, if your fuel is so high and you do high mileage on your car, maybe look at a light second hand car. Unless you need the Bakkie for your work and fishing of course.

 

[FLUKE]

Kipi die kingfisher wrote:

@ Fishalites, The cracking head problem only occurred on the 2.8l diesel motors, a stupid design to begin with if you ask me.

Any way, if your fuel is so high and you do high mileage on your car, maybe look at a light second hand car. Unless you need the Bakkie for your work and fishing of course.

Turbo or non Turbo?

I'm on my way to test drive a non turbo 2007 2,8 S/C that I want as a workshop runaround to do all the heavy, nasty work. It has about 150 000 on the clock.

 

[Mengs]

I had a 1997(I think) pioneer 2,8td double cab that had this problem, I believe it was only the diesels that had this problem.

 

[FLUKE]

Mengs wrote:

I had a 1997(I think) pioneer 2,8td double cab that had this problem, I believe it was only the diesels that had this problem.

Thanks, The 2,8 I'm looking at is a diesel but it is the normally aspirated one not the turbo charged one. being normally aspirated should put a lot less pressure & temp on the head so I'd think it's less likely to have the cylinder head problem.

 

[Koper]

FLUKE wrote:

Mengs wrote:

I had a 1997(I think) pioneer 2,8td double cab that had this problem, I believe it was only the diesels that had this problem.

Thanks, The 2,8 I'm looking at is a diesel but it is the normally aspirated one not the turbo charged one. being normally aspirated should put a lot less pressure & temp on the head so I'd think it's less likely to have the cylinder head problem.

The 2.8 single cab is non turbo, really good workhorses that won't let you down.

The 2.8 turbo on the double cab, that problem was sorted in 2004, so from then onward you can buy without to much of a worry.

 

[FLUKE]

Koper wrote:

FLUKE wrote:

Mengs wrote:

I had a 1997(I think) pioneer 2,8td double cab that had this problem, I believe it was only the diesels that had this problem.

Thanks, The 2,8 I'm looking at is a diesel but it is the normally aspirated one not the turbo charged one. being normally aspirated should put a lot less pressure & temp on the head so I'd think it's less likely to have the cylinder head problem.

The 2.8 single cab is non turbo, really good workhorses that won't let you down.

The 2.8 turbo on the double cab, that problem was sorted in 2004, so from then onward you can buy without to much of a worry.

Thanks, I drove 2 one with 210000km & the other with 143000km and strangely the one with 210000km felt a touch better but I won't buy with such high mileage. It was however great to drive one with such high mileage that was still free of rattles, knocks and any other noises.

Will probably be taking the one with 143000 on the clock but prices high as vehicles like this are like hens teeth. Will probably have to pay the price but will dig my heels in a little first and see if I can get anything out of them.

 

[At Last]

Correct Koper, turbo was sorted on the 2.8 TDI around 2002, 2003, I have the 2004 2.8TDI no problems, I will rather refinance and take out an extended mechanical warrenty, which I did, can get the warrenty from your bank, I have 134000km on the clock and all that I have had done was the Timing chain[ at a cost]