I've had a shit 12 months, health wise I went from being a early 40 something with no health issues to suddenly having a chronic illness, fortunately treatment was successful but could come back.
I do have one DC who is secondary school age, and DH works too.
However I've always had second hand slightly better than your average banger, they've done the trick for 5 years or so then I've got rid when something has come along that needs work, I won't pay more than £500 to fix something on the car and this rule has always done me well. I currently have a car that there is nothing wrong with, it gets me from A to B and does the job but is diesel. I don't do a lot of mileage as much as I used to do as now working from home with the odd jaunt to the local largeish city but I usually take the train for this (probably once a quarter).
But I'd really like a newer car, not as in new to me but nearly new as in maybe 3 years old or around the age the depreciation isn't so steep. It would be a purely selfish purchase but I'd like one with all the gadgets as I like them.
Would I be mad to go into this? I'm scared of going into the PCP treadmill, I've been scouring the MSE forums and seen a few different ideas, but worried that in 4 years time when the PCP ends I might end up wanting the newer car again and then we go again on that never ending cycle. I don't do debt, the only debt I've ever had in my life was the mortgage and that in itself is quite low as it's only £200 a month, I've over paid for years and very glad that I did. Part of me is a bit reluctant of taking this on but there is a newer side to me that is very much 'You only live once, you're not stupid and won't sign up to something you can't afford'. mentality especially since being diagnosed with cancer.
What would you do? Keep the current vehicle and just save in the mean time to try and buy a newer one outright or just leave it til the vehicle starts to go wrong then and the new car is deemed a 'need' and not a 'want'.