Keeping an old car could cost you more than buying a newer one

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One of the top reasons people swap cars before reaching the end of a finance agreement is that their current car is costing too much money to run. The older a car gets and the more miles it’s covered means it’s more likely to need money spending on it – and we’re talking big bucks.

One of our customers had a 2010 Toyota Avensis estate with 130,000 miles on it. He’d owned it for over 8 years and because he loved that car so much, he just kept on paying for repairs – year after year. His last bill from the Toyota garage was £1,500 for new diesel injectors. The sad thing was, this investment did not make his car worth anymore – something that’s called ‘dead money’. Add to this the worsening running costs and other small failures and before he knew it, he could have used that money on a much newer car.

Here’s the top 6 reasons people change cars…

  • Growing family (space)
  • Faulty car (immobilized)
  • Change of jobs (reward)
  • Need better fuel (economy)
  • Road tax, ULEZ charges (costs)
  • MOT failure (costs)

When you use Payment Swap you can upgrade or downgrade cars and pay the amount per month to fit your budget. The good news is, every car is supplied from a main dealer and comes with up to 12 months warranty, free. As long as you can afford the monthly payment seen on every car we feature, and your credit history is good, subject to status you could be driving your next newer car within the week and that includes the dealership paying off your old finance.

10 easy steps to taking a Payment Swap…

Here’s how easy it is to upgrade your car online and drive something you really want…

Step 1 – Add your reg number and how much you would like for your part exchange

Step 2 – Add your current monthly payment (so we can match you to similar cars)

Step 3 – Add how much you owe (you can get your settlement from your finance company)

Step 4 – Enter your first name (so we can address you properly)

Step 5 – Add your email address (so we can let you log in to your saved pages)

Step 6 – Search thousands of cars, fine tune your search and to match what you wish to pay

Step 7 – Use the filters to fine tune your search and pick the car you like

Step 8 – Get your guaranteed part exchange from us

Step 9 – Complete your online finance proposal (soft search)

Step 10 – Pay your £99 Admin Fee and watch the process start (you’ll be kept informed all way through)

Written quotations detailing a choice of finance lenders will be made available from Automotive Media Ltd, who are a credit broker and not a lender and whose name is listed on the FCA register. At we believe in transparent pricing and clear instructions on what to do and what product you’re buying. This is why we score 4.8/5 stars on

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