Buying my car out-right or continue pcp?

[SardineJam]

Currently have my car on PCP (was no interest and no deposit!) and in a few months the 36 month term will be up. I can either (amongst other options) get a new PCP plan with new car or buy out my car (payment to be funded by a finance plan).
I currently pay around £300 a month and to buy out would be around £6,000.
I'm not particularly financially savvy, so would be great to understand the pros and cons of either option. Would quite like to have a situation in 2 years where I'm no longer forking out monthly payments for a car but am conscious of depreciation, and increased MOT, servicing costs.
Advice is appreciated

If you are happy with your car i would keep it. Presumably you've looked after it and serviced it so it should see you good for another few years yet. The big depreciation has already happened including the 20% VAT on buying a new car). My suggestion would be to keep putting £300 a month aside and you will have a nice sum to change your car when your ready to get out of the car finance loop. In 2 years time your car will still be worth a reasonable amount (admittedly i don't know what it is but you can guesstimate it on auto trader) so the extra depreciation wouldn't be something id worry about.

You could buy another car for £6000 but you'd be buying a car "unknown" (so history and looked after would be unknown to you) and also selling at trade but buying at retail. So quite frankly you would probably do better of sticking with what you've got.

We bought our car at the end of our leasing period. We reasoned that we really liked it, it had low mileage still, had never had any problems, and we didn't need a bigger one. Seemed an awful waste to hand it back and get a new car. I'm sure it's got many years left in it.

I absolutely love our car and I think that's why I am considering buying it out and keeping it. It's been well looked after (not because it's "not ours" but because I take pride in my belongings! Mileage is very low so agree that I know what I'll be buying rather than a second hand car without knowing the history (which I did before and massively regretted!)

As a previous poster said, it depends on the market value of the car i.e. is it worth more or less than £6K. Without knowing that none can say which is the best option financially.

Find out what costs are involved in returning the car. It cost me hundreds and I wish I had kept it as I loved it and preferred it to the one I replaced it with. Also by the time I had paid for it to be collected and other costs eg I couldnt find the spare key, I would have been better off keeping it and selling it privately.

6k is completely paid off over 20 months st 300 quid per month, and at least you have a car at the end of it.
If you keep the car for 3 or 4 years then you will make a massive saving.
The uk obsession with a new car is odd.

I'll probably do the same with my car shortly. Three years old, paying 150 a month but if we buy it for 5500 it will be paid in three years. Deciding factor for us to buy instead of going for a new pcp deal is dh's car. It's 7 years old and we can't afford to be making two car payments if his were to need replaced in the next few years.
Plus I really like my car and would be sorry to give it back.