I’ve had my car for a year and a half now. It is a 2008 Ford Fiesta in quite good condition. I have a 5 year long term loan of $20,000 to pay for it, with $260 fortnightly instalments.
I worked out that by the time I have finished paying this off, I would have paid almost $10,000 in interest. Is it a better idea to sell it and cut my losses and buy a cheaper older car? Just something to get me from a to b?
Any advice would be much appreciated.
I worked out that by the time I have finished paying this off, I would have paid almost $10,000 in interest. Is it a better idea to sell it and cut my losses and buy a cheaper older car? Just something to get me from a to b?
Any advice would be much appreciated.