Shall I exchange ?

[helpmefind]

Car question

Currently have a good car. Paid £5500 for it. Have £5300 left on my credit card (0 interest)
The payments are £150 a month
It's a 13plate

My question is I'm looking at part exing for a £2k car, sell mine for £4K approx (rough estimate autotrader) which will half my credit card and make the payments smaller

Reason being just split from parent, he helped me with credit card and bits but now I have no spare money a month and seeing where I can save

Would you do it?

Obviously I would be getting less of a car but needs must

Any advice would be fab thanks xx

I would providing the £2k car you are looking at has relatively low mileage and is a reliable make (Japanese or German make IMO) and you have enough flex in your budget to allow for any repairs if it breaks down and/or could manage temporarily without a car.

People on here often make the point that by buying an 'old banger' or older car you do increase the likelihood of breakdowns and repair costs which is a definite consideration if you are living on a very tight budget and rely on the car for work, but so long as you do set some aside every month to cover normal wear and tear (e.g. new tyres every so often) or your credit is good enough to cover an unexpected bill on a 0% card, I think the savings should outweigh the benefits...

My 04 plate Honda is still going with no major issues for what it's worth. It's needed a complete set of new types and also new brake discs aside from annual servicing and oil changes etc, but other than that it's great...

So my mileage is 40k for a 13 plate so very good
What would you say would be the highest to go for?
Thanks for your help