The 28-year-old winger has travelled to Deepdale for talks after Cardiff accepted a £300,000 offer from the Lilywhites, who pipped the Welsh side for a place in the Championship play-offs last season.
Parry is mulling over a fresh start and revealed it is one of the toughest decisions of his career having spent five largely successful years with the Bluebirds.
"The clubs have agreed a fee between themselves so I'm going up there for a chat," he told the South Wales Echo.
"There are a lot of things to take into consideration. It is not just about me and it is certainly not about money. It is a hard decision I am going to have to make.
"To be honest it is 50-50 at the moment. It is a really tough decision."
Parry was signed for Cardiff by Lennie Lawrence back in January 2004 for £75,000 from Hereford.
Just a month later he made his international debut for Wales and quickly became a fans' favourite at Ninian Park.
Parry has gone on to play in the 2008 FA Cup Final and help the Bluebirds establish themselves in the Championship, scoring 24 goals in 192 appearances.
But he feels he has a point to prove at Cardiff after admitting he had a disappointing campaign last time round and the Bluebirds faithful could convince him to stay in the Welsh capital.
"I will be going up to Preston with an open mind and have a chat with them and listen to what they have got to say," he added.
"But part of me wants to remain at Cardiff because I sense I've got unfinished business here.
"I had a poor season last year and I owe the people here something. I owe it to the fans to finish the job.
"I like playing for Cardiff, the fans are very special here."
Coca Cola Ch'ship Promotion 09/10 Win Outright: Preston 7/1