you know when all you lovely people give advice...

ginormousflares

High winds!

postingalwaysposting

well looking at spare cash each month this is what i have approx ~ jan £150, feb £360 and march £340. Now the car i would like is £375, i can find a newer one for another £100 obviously i need to take into account first payment of insurance etc etc.

I am really and truely unsure what to do? i have two options debt/confidence and then save/chance.
Option one ~
I never ever wanted to do this but borrow it? Be it loan/overdraft/family. This will mean the price of a/the car plus a little more. Obvously if i budget correctly this will be repayed by march. The downside of this ~ rushing into it, getting into debt. being a sterotype and being 'my sister'. Upside ~ save £50 this month on busses and dont lose the confidence i have taken years to get.
Option two ~
save untill march and then work from there. The downside ~ no driving for these three months, sacrificing what i have done etc these years/month, over £150~£250 spent on bus fares and 100% sure i will need refresher lessons/lessons in my own car with my instructor. Upside ~ no debt

see this is where i would love 'muumy and daddy' to be around :rotfl:

SarahNeedle1872

postingalwaysposting wrote: »

well looking at spare cash each month this is what i have approx ~ jan £150, feb £360 and march £340. Now the car i would like is £375, i can find a newer one for another £100 obviously i need to take into account first payment of insurance etc etc.

I am really and truely unsure what to do? i have two options debt/confidence and then save/chance.
Option one ~
I never ever wanted to do this but borrow it? Be it loan/overdraft/family. This will mean the price of a/the car plus a little more. Obvously if i budget correctly this will be repayed by march. The downside of this ~ rushing into it, getting into debt. being a sterotype and being 'my sister'. Upside ~ save £50 this month on busses and dont lose the confidence i have taken years to get.
Option two ~
save untill march and then work from there. The downside ~ no driving for these three months, sacrificing what i have done etc these years/month, over £150~£250 spent on bus fares and 100% sure i will need refresher lessons/lessons in my own car with my instructor. Upside ~ no debt

see this is where i would love 'muumy and daddy' to be around :rotfl:

Thats a toughie...... if u feel that u would loose ur confidence in a couple of months, it may be worth the sacrifice of borrowing a little bit of money, to get the car and get it on the road..... would u be able to get an interest free loan from family? And how much were u looking to borrow?

postingalwaysposting

SarahNeedle1872 wrote: »

Thats a toughie...... if u feel that u would loose ur confidence in a couple of months, it may be worth the sacrifice of borrowing a little bit of money, to get the car and get it on the road..... would u be able to get an interest free loan from family? And how much were u looking to borrow?

well the problem is i am still a very nervous driver ~ the vision i have of me driving on my own is enough to scare me even now. Dont get me wrong i know i am a 'fab' drivier and very consious but there is still the old negative pap on my sholder. Dont get me wrong i am not saying i will 'forget' how to drive.. but i feel that if i dont get a car/put on mums insurance then i will buy a car and need to have 'lessons' with my instructor just to get that confidence back.

ummm the family thing was kinda a joke :rotfl:as many know my family and money doesnt work. Thats near enough a no unless i ask mums oh but i dont really want to do that if hand on heart i am honest. Its one of those things isnt it? I think i will 'need' the car price and the first payment for my insurance i guess so i am looking at £600~£700 so not much really. I can get my savings out so thats £215 less but i am reluctent to do that. Looking at my bank, i know i can get an overdraft for up to £5000 as they offered it to me only 1 month ago. Thats 0% also i can limit the time on that (ie 1 week~ 3 months) so i have a time to repay it in. Or there is the loan thing which i can only get for £1000 which without insurance is £91 repayments each month but you can overpay and that runs for 12 months. I think in the end you repay £1200. The best imo way is the overdraft but...

do i? or do i save? do i risk it? or do i just go on mums insurance and get no car till november?

its hard being a dfw/young/living your life isnt it?

Gemmzie

postingalwaysposting wrote: »

thanks gem i shall have a look, do you think those running costs are reasonable?

Pretty much yep, it's just if thinks go wrong but personally that goes on a 0% card and gets attacked as quick as possible from other income.

I wouldn't get that cheap a car though personally, it's more likely to go wrong. I'd stick with £500-£1500 depending on how much you'll end up relying on it.
And don't buy any car until you've run it through several insurance checks. Sometimes a car you'd think would be cheap won't be. It's a weird game!

SarahNeedle1872

about the family thing, that was a school boy error on my part - I should be one of the 'many that know'

Given the options u've listed, I think ur OD would also be the best bet, as its 0%.... and u can always get rid of it once its paid back. We all know ur the one person here disciplined enough to pay it back, and quickly, so that would be a good choice IMO. Do u intend to pay the ins in one go? I know its not the cheapest way, but when I switched from monthly DD to one off lump sum, I spent a year effectively paying double, so paying for year one then saving for year two at the same time.... now I save money every month towards next/this years..... and of course the no claims will make it cheaper

Gemmzie

postingalwaysposting wrote: »

its hard being a dfw/young/living your life isnt it?

Gawd yes! But honestly PAP, now I have the car paid for (finally :j) I manage to run a car on my crummy part-time wages so I'm sure you'd manage fine month to month. Also being 22, your insurance should drop a lot quicker than mine did.

First year, I was 3rd party, it was much cheaper as I was 17 at the time. Just depends as I said before, how much you're going to be relying on the car once you have it.

From what I know of you, and how clever you are with figures, I'd say go for it on the 0% debt - you'll clear it soon enough.

As for the car itself, get someone who really knows cars to test drive it, you test drive it too! Look for service history and mileage. It seems scary but I wish I'd done both those things with the first heap of ... I had as a car.

JET34

Hey PAP don't forget Quidco for cash backs when your buying your insurance and AA!! Not sure what else you can get it for (I don't drive but I have to say you have inspired me to have another go)
You've done so well... you go girl

P.S I left a comment on your new picture on facebook.. I put the wrong user name!!! jet-300 instead of JET34

ginormousflares

PAP, look at https://www.honestjohn.co.uk and https://www.reliabilityindex.org. They are great at telling what to look for when buying a car. What's good and whats bad. The reliability index tells where you would expect to spend the most of your money on any repairs. Personally, I have found honestjohn a brilliant website for buying cars.

ginormousflares

Hey PAP, PM me your name on facebook and if you would permit, I'll add you to my friends.