Please talk me out of.....

lazy&indebt

Buying a new car!

I went to Peugeot this morning and they have an offer... Just add fuel where you don't pay for tax, insurance, services for three years and a 3 year warranty. Only available on brand new cars. The one I want is £13.5k and will cost me nearly £300 per month. But I know I should be sensible and pay off my other debts first!! Basically I am asking people to put me off!!

Thank you!

cif85

Don't do it!

Just think....if you put that £300pm towards your CC and loan you would be debt free in 6 months Then you won't feel guilty about getting that Peugeot and it will feel all the sweeter

The offer will still be around in 6 months time

thegoodman

Pay the debt first. It is wrong and will get you into trouble by having more debt. It is easy to carried away, hard to control yourself. Would you really want to add more to your debt?
The life is much easer without it. Wait a while and than get a car

LesleyKD

please don`t do it! do you really want more deb?t as others have said, save for six months,count to ten use the bus, cars will still be available in 6 months!

thegoodman

Offers always come and go...don't fall for it

nearlyrich

lazy&indebt wrote: »

e you don't pay for tax, insurance, services for three years and a 3 year warranty.

Yes you do it's all rolled into the price

So you pay £300 per month how long for?

36 x £300 = £10800 how much of the car will you own after 3 years is it some kind of lease where you need to pay about £6k to get out of the deal because Peugeot are not a charity;)

Bestthingsinlifearefree

Ok lets forget about the how much new cars depreciate.

Now answer these questions.:)

What is your current debt and how long would it take to be debt free putting all your spare cash to pay the debts off?

Now add £13,000 to your current debt. How long would it take to be debt free putting all your spare cash to pay off the debts?

Best,

Bestthingsinlifearefree

.....Also... I would read the linked thread and listen to the very, very wise poster who made comment number 11 in that thread. Very good advice there.

https://forums.moneysavingexpert.com/discussion/1831145=



Best

Butti

Have a look at what Martin would say?

Do you need this car?
Can you afford this car?

As someone else said, you ALWAYS pay for the car, the 'freebees' are not free, they are in the price and they are just there like the smarties on top of a chocolate cake or the infamous 'kids go free' Disney trips.

Work out the WHOLE price.....and then have a look at how much a year old or 6 month old model would be. There's your depreciation!

If you still want to buy it in 6 months time say, after you've paid off your debts I'm sure the economy will still be rubbish and you will be able to drive a hard bargain. Do your research and take your partner or a friend so you can play good cop / bad cop with the salesperson.

B

lazy&indebt

Thank you everyone. You are right, I don't NEED it. My current car is on finance (not at a point where I can hand it back) and I owe £2.5k on it. I could even get rid of that, get a cheaper car (maybe spend £1k) and use that spare cash to pay off all my debt... Then when debt free maybe I could look at getting a nicer car :-)

rising_from_the_ashes

Yup, don't do it .....

Just think in a wee while you'll have paid off your current car (not in the totals in your sig?) and your loan & cc - it's an amazing feeling to be debt free.

Get to that point and then enjoy some of the freed up money, put some aside for a new car and then get one (if you really do need one) then - you'll feel so much better!