To want to get an older car?

[Asparagus1]

We currently have a 17 plate car that we got a year ago on finance over 5 years. There’s been so much wrong with it and actually
it is too small for our family. We are in negative equity of between £1500-2000. I want to get an older cheaper car, add the money we would owe and pay it off over 3 years but is this a really bad idea? We need either a 7 seater or a car that has 3 full sized seats in the back. Can anyone recommend something that they’ve had that’s lasted decently? Or suggest what we could do 😣

Do you have any money in savings? How much is the car worth? If I’m reading this right you want to sell the car for XX amount get an older car for X amount and continue to pay for the negative equity monthly x amount. In principle it could work if you know a trusty mechanic.

Very little savings, just 3 figures. It’s worth between 8500 and 9500 and we owe 11000 😣 I was hoping another garage would settle the finance and add on the difference to a new finance agreement. I’ve seen a car for £4500 for example, but then we’d pay finance for £6500.

They probably wont be able to add the negative equity to a new car - a car finance deal is secured against the car, you wouldn't be able to get a car on finance and add another 2k on top as it's above the value of the car.

You might be able to get a private loan to payoff the negative equity and sell the car? Then get a different car on its own finance deal?