The ultimate incentive proposed! Buying a house, a wedding, and staying debt free.

Poolie

Give me 10minutes with an excel spreadsheet.

How many years are we working on the repayments? What about insurance and tax costs? Also servicing for cars?

Tete_en_l'Air

I thought you were going to say that THEY were absolute muppets and we shouldn't do the course! Payday tomorrow, can we do it then? How do we go about it?

How useful is Poolie?!

Flower08

Dinah93 wrote: »

Thing is I think she was staggered we want it within a year. I thought that was kind of standard tbh, .

To be honest if i got engaged, i wouldnt want to have a long engagement - i would want to be married within about a year. And obviously you are going to want our own home when your married.
But if she already told you that you would have the money back within a year it shouldnt matter what your plans are - as the money should already be paid off.
Is it worth speaking to your dad about it?

Poolie

Tete_en_l'Air wrote: »

I thought you were going to say that THEY were absolute muppets and we shouldn't do the course! Payday tomorrow, can we do it then? How do we go about it?

How useful is Poolie?!

Tete you do realise that you just classed a man as being useful.

Tete_en_l'Air

Poolie wrote: »

Tete you do realise that you just classed a man as being useful.

They can be for some things

Ooh, did I just say that?!

Poolie

Oh dear a new diary and the smut has started by page 6 from Tete

We were doing so well.

Poolie

OK have crushed some numbers just can't post the spreadsheet without the formatting going nuts

Missing accurate numbers for tank size, servicing and road tax

Car 1 will do about 303 miles on a tank with running costs (excluding RT and servicing) of approx £574. Questions to ask - when was the cam belt changed?is it due? what state is the engine in? Is there anything else major gone wrong? What baout brake shoes and clutch cables? Now you have to remember that you own this car out write so no loan costs. You should take into account the current value of the car and rate of depreciation.

Car 2 will do about 521 miles on a tank with running costs including loan repayments (exlcuding RT and accurate servicing) of £1316. Does this vehicle have MOT costs yet? Same questions apply as above.

Poolie

To be really accurate we should remove the loan repayments from the running costs as not really a running cost but an asset purchase cost.

This would mean that running costs for car 2 are only servicing, MOT (if applic) and RT (which if you have a smaller engine CO2 emiting car will be cheaper from April 2010)

Car 2 looks better on paper but you are paying for purchasing the car. Car 1 is owned outright, as long as it has had the servicing at the correct intervals and not expecting any major works like cambelt or clutch or engine blowing up should be good.

The main difference is mainly fuel consumption for these cars. Car 2 will do more miles on a tank and will do it more efficiently by the numerical view. Without knowing the make and model of the cars I can't get accurate numbers.

N.I.M

Ok seems because I've asked for Dinahs hand that I've become more protective of her. Thinking of weighing in on this one myself. Now I know I could speak to her dad openly about all of this but I think it might go belly up with her mum.

As to the car, I'd say were pusing the cam soonish, it was last done prior to us meeting. The engine is pretty good overall, its an alfa and its been pretty well maintained. That said the electrics are dodgier than those bobski the builder from usbekistan would do I think. Its going to need a new exhaust soon and the brakes can be a lil sluggish when they want to me. Just redid the hand brake cable as one of the 2 snapped. its 7 year old and will probably need other work done soon. Also it goes through power steering fluid faster than an Irishman on a pint of Guiness.

I'll let herself handle the other.

Poolie

Thanks NIM

Car 1 - The Alfa (Typical Alfa once one thing goes it keeps on falling apart! - See Top Gear!) - Exhaust - depends which section if cat then time to really think about running costs. Cam Belt - could be a £200 depending on if your local guy can do it or if it going to have to be a garage. The electrics is another matter. Brakes - New set of discs or pads easily purchased and fitted but again a minor pain - depends how long between changes is the main thing here.

Drinking power steering fluid does not sound good especially when compared to Irishman on a pint of Guiness (No offence NIM) - sounds like a leak and surprised it did not fail its MOT due to it.

Car 2 - although your paying the loan repayments sounds like it is better condition.