Need your Advice Guys!

MikeAndHisLovelyPlant

Oh, and another thing...

paintygirl wrote:

apparently I can return him in May and walk away.

Maybe so, but think about it first.

Normally these finance packages work along the lines of:-
- big chunk of dosh up front
- something per month (£225 for you) for a few years and then
- another big chunk of dosh at the end.

This big chunk at the end is usually about the estimated value of the vehicle. In your case, as you're 'only' spending £50 per month on fuel, you'll probably have lower than average mileage and hence the van may be worth more than that estimated by the finance package.

So I suggest that sometime before the 'walk away' day, you pop into a few dealers and ask how much they would give you for it, then if it's more than the option price you would be better off paying the final instalment and then flogging it.

Mike

paintygirl

I have just changed my bt package and saved £5 per month. Also checked out shopping and can get that down by £90! Dropping my driving miles can save me £10 and get me fitter...thats £115! :rotfl: :rotfl: :rotfl:

paintygirl

Mike

I have only had the van for a year, well, a year in May. The finance is for 4 years. Walking away in May leaves me out of pocket in as much as the £3K deposit I put down and 12x £255 that I have already paid. I need to work out what is the most financially sensible. Being a deisal van it will probably run for years and years, but at this moment in time clearing my debts seems to overide everything. What was I thinking getting car finance!

paintygirl

tigerlily wrote:

I realise that I may well get shot down in flames for this but....£53 per month on music lessons when in problem debt? I realise children need interests but (in my humble opinion) a respect for the value of money is a HUGE necessity. My parents were never in a postion to afford music lessons or horse riding lessons or ballet lessons...you get the point (lol) they were in the same position as some of my friends parents. We found other things to do like Brownies (probably very uncool now) Guides, youth groups, the odd trip swimming etc there are so many things to do which are so much cheaper and a valuable insight into the value of money.
I guess the other things would be the Sky-a luxury and your food bill, if its for 2 it seems a huge amount to spend.

I know tigerlily, but she is doing her GCSE's and will be applying to Reigate College for a music technology course as her chosen profession is a sound engineer. Sadly she needs the music lessons for her application. The debts are mine and, rightly or wrongly, my budget will include music bills. She had better earn a fortune and keep her old mum! :mad: :rotfl:

sanfrancisco

Does you daughter live with you?

Second hand cars have really come down in the last few years. You will be able to get a perfectly adequate car for sub 500.

Could you do without a car? Could you walk?

paintygirl

Need a car. I am a part-time arts youth worker, which takes me all over the area at all times of night and day. I am also a self employed artist, creating art projects for schools and local authorities. Trouble is that work is really quiet right now, it's always all or nothing! I have also started to try and sell kids art party equipment so need to deliver. It is such a dilemma.

MikeAndHisLovelyPlant

How's it going?

Mike

southernscouser

I only looked at this thread coz I thought your name was PANTYgirl! :cool: :rotfl:

But while I'm here I might aswell through in my penny's worth!

How old is your daughter? Any chance of her getting a part-time job to help pay for the music lessons?

Are you entitled to any benefits that your not claiming? Have a look at this site for info!