Hello,
I am retiring and would like to know if it is best to spend around £12k on a used Mondeo and hope it lasts until I give up driving, or £6-7k now and buy again in 5 years or so?
Hello,
Congratulations on your retirement! I hope it is long and enjoyable.
Buy a £6,000- £7,000 car because that will buy you a 3-4 year old petrol Mondeo which will happily run trouble free for another 5 years.
But if you spend £12,000 while you can just about get hold of the newest shape car, it will be unlikey to last until you give up driving.
It will last about as long as the other car, 5-7 years relatively trouble free, 10 years if you look after it. But it will lose a lot more money, leaving less in the bank for your next (and if you are to be believed last) car.
But I must warn you my Granddad has been retired 30 years and is on his 4th retirement car.