A Payment A Day Part 5

Flower08

SueP19 wrote: »

I totally agree with you, for years we had ole bangers £300 ish (well am going back 20 years) It was when we went through 3 in 18 months I said no more............this issue does annoy me when you post your SOA, the advice is always get a cheap car or worse sell your good car and use money to pay debts!!!!doh NO!!!!! Maybe I am a bit biased but we live in the middle of nowhere .......................... Get the best car you can with the lowest mileage :money::money::money:That to me is MSE, worked twice for us on cars that have 25,000 on them........................kept them for 5 years each, very little repairs :j

Good luck with your hunt

I agree completely. OH and i are just coming up to the dilemma as to what to do car wise. We bought an old banger last october, it had one years tax and MOT on it and we paid £850 for it. Whilst we have had no major problems with it, OHs friend (who is a mechanic) has said to get it through the MOT next month will cost about £500 and thats at mates rate. We're trying to decide if its really worth paying that much for an old banger to get through its MOT or spend a bit more money - but possibly increase our debt to get something better!

Decisions decisions!

PigginSkint

Hi All

Today's PAD is £1.06 to Abominable Amex

I am very behind on reading this thread so apologies for anything I have missed!

PurpleJellyFish

Evening All,

Can anyone explain to me how the weekends or days of work always go much quicker???

PaD for me today is £1 as until my accounts catch up with me tomorrow, I have no idea what is available for spending.

Hope everyone is well and that car troubles soon sort themselves out xx

SueP19

macgirl wrote: »

Thanks for that Sue
The last 2 cars I've bought, had 70,000 miles on the clock:eek: - when I bought them!:rotfl:
I figure it could take me 5 years to pay off a loan (God that makes me soooo frustrated :mad:) so I need the car to last at least that long...
I do 200 miles a week just to work and back, so want something with no more than 40k on the clock.
Right off to investigate the loans board
Thanks again mate x

I'm like you Mac. I do 250-300 miles a week :mad: Don't forget the scrappage scheme or if not, often you can get £500 if you can drive your old car in regardless of state

Paulgonnabedebtfree wrote: »

This is something I always try to dop - get a decent one that will last. I get vans and use them for private use as well. I have to pay to get them kitted out for work so it would be very wasteful changing vehicles too often. In spite of my debts, I would like to buy a van brand new next time At worst a nearly new one). That sounds extravagant but with vans, it's different to cars. Firstly, as a business vehicle, repair time is non-earning time. Secondly, I get tax relief on most of it anyway (including interest). Obviously I don't get tax relief on the personal use proportion but even so, buying new is OK with vans so long as it's affordable (all IMO of course).
My current van is 6 years and a half years old with 77,000 on the clock. I bought it at 2 years 8 months old with 37,000 miles. I did the loan over 5 years so still paying for it until October/November 2010. The van was 8 grand and the kit in it was 2 and a half grand (all borrowed at 5.7% - those were the days). I also spent a few grand more on other kit. Originally, I intended to chop the van in as soon as I finished paying for it but I have decided to try to run it for a couple of years beyond and hopefully use it for part-x eventually. Hopefully, my desire to run it for 2 more years without loan repayments will not result in very big repair bills.

Paul................I don't think I will ever be in a position to buy new but if I were then I would opt for something that was a year old, depreciation is a killer, often 25% can be knocked off in the first year. I don't blame you for running it in a further 2 years. I dread to think how much your 2 1/2 grand would be now

macgirl

Thanks for the comments everyone:T
I've been brainwashed by MSE Dad to NEVER buy a brand new car (nearly new I would).
He says all the used cars at auctions are exactly the same as the ones in showrooms, except a few grand cheaper.
(This was proved true the day after DH bought his car. Audi A4 from auction for £5K, then next day he saw one parked outside a garage, same colour, age and mileage marked up at £8.5! The bloke said he's do it for £7.5 though - er no thanks.:D)

So the advantage is you can pick up a bargain and there are nearly new cars there too, not just bangers.
However, you can't get to test drive at auctions, and it is quick once-over then decide and bid. I have to say it's a buzz - I do love the atmosphere!!!

So if I get to take my time, test drive and buy smething that's been tarted up, valeted etc, I may pay a premium of a couple of grand - which is not very MSE...
*sigh* My head hurts
It's something I have to address as it's sadly a necessity. Thanks again

SueP19

Flower08 wrote: »

I agree completely. OH and i are just coming up to the dilemma as to what to do car wise. We bought an old banger last october, it had one years tax and MOT on it and we paid £850 for it. Whilst we have had no major problems with it, OHs friend (who is a mechanic) has said to get it through the MOT next month will cost about £500 and thats at mates rate. We're trying to decide if its really worth paying that much for an old banger to get through its MOT or spend a bit more money - but possibly increase our debt to get something better!

Decisions decisions!

It sounds like the cars we used to buy, must admit though we have had to have loans for our cars but next time am determined to "pay cash" for it

Thing you have to remember if the car is fixed at £500 and on the road for the next year then thats cheaper than buying another new/second hand car. How much could you PAD in a year??? Our second car is of road at the mo but I am refusing to let the OH sell it as we only paid £1500 for it and it tows a whopper of a caravan, we only do 1000-1500 miles in it a year. OH wants to spend £1500 on another but I am standing firm plus we have no money. I am sure we can fix it for far less and have it on the road in 2010.......................tough init :rotfl::rotfl:

Flower08

SueP19 wrote: »

Thing you have to remember if the car is fixed at £500 and on the road for the next year then thats cheaper than buying another new/second hand car.

This is my way of thinking. But OH thinks it will only be a matter of time before other things start going wrong. I tend to listen to him about these things because he did start training as a mechanic and knows quite alot about cars, he told me the gearbox isnt sounding great and will only be a matter of time - but then again he could just be saying all this just because he wants a new car :rotfl:
Well the decision has to made by the end of October, im guessing he will get his own way in the end, but we will have to set a limit!

SueP19

Maybe I have had too many "its only worth scrap" over the years that do not believe a word of it now :rotfl::rotfl::rotfl::rotfl::rotfl:

jo41

Paulgonnabedebtfree wrote: »

Anyone would think the totals are going into your own bank account Jo .

Oh sorry Paul ....am I getting a tad bossy?:o

angelicmary85

Silaqui wrote: »

I'm gonna sound like a whinger here but I have to get it off my chest. It feels like every month I plan my money to perfection, and stick to it as well, but I always end up subsidising other people which sets me back. Problem is when it's the b/f I can't exactly say no because it's usually something that affects us both. He is just not mse at all and I can't understand where all his money goes because most of the bills and things come out of my accout (simply because I lived here first and it was all already set up). I swear he spends it all on food for work!

Hey Silaqui,

I feel for you...my OH was the same until I started packing him a lunch box! He's got a manly appetite but it still saves on the fiver he was spending everyday!