What to do at end of PCP?

[Onedropbeat]

I have a PcP car finance that was taken out with the plan to pay the final payment and keep the car.

The pot of money we had held back to do so has unfortunately had to be considerably dipped into due to cut backs at work and unforeseen events of the year

It’s our only car and is the family car so we can’t just hand back and do without.

I can either - borrow the £6k to pay the balloon payment,
Continue a new agreement so I don’t have to find the money but effectively signing up to perpetual finance, or lastly, borrow smaller amount to buy a cheaper car.

All unfortunately involve borrowing

We kept ours and extended the finance for 2 years. The car dealer dealt with it and the payments were pretty much the same as the original deal. We've had the car 10 years now and have not had any finance for 5.

That’s a good idea
Thank you