Heirloom or freedom?

corsanita

Guys...I have a dilemma on both a sentimental & practical level.

I live in a very rural area with essentially no public transport. I'm currently 'sharing' my Dad's car, but this really isn't working. I don't need it during the day (for now at least I'm working only 20mins walk away from home) but I need it evenings & weekends and potentially days too from April. I'm working full time, studying part time for my seriously demanding masters and due to a potential new career am going to the gym/running on the beach five days a week. This weekend transport arrangements have totally killed my schedule. I'm under a phenomenal amount of pressure and feel utterly trapped, isolated and unsupported without any means of transport.

My grandmother left me her engagement ring when she died. It's been held for me, it's worth enough to get me a little runaround/lifeline. But I am *loathe* to sell it for sentimental reasons.

My debts are not huge at the minute, but my work is far from secure so I'm not totally comfortable taking on any more. Also, I have only been a named driver for a few months despite being over 25 & having my license since I was 17 so insurance quotes for a 2.5k Ford Ka were still in the £700s....The thing is that I'm feeling increasingly desperate/trapped so I'm thinking maybe the extra debt would be worth it for my sanity.

Thoughts?

GirlRacer_2

ooooh this is a difficult one. What do you think your grandmothers thoughts on this would have been?

alyth

Difficult one. I also live in a rural area and must have a car so I understand your dilemma. It depends on how much you think you will get for the ring which will dictate how reliable and new a car you will be able to buy. And your problem doesn't end when you buy the car - there's maintenance, road tax, petrol, as you say insurance, so unfortunately buying the car is the easiest part!

An option is to get your dad to insure the car and you be a named driver on that which may bring the insurance down a bit.

I do understand your dilemma though as I had to cancel my "pandatrip" to China last year as I had to buy a car as I changed jobs. I bought a £500 14 year old car from ebay and to be honest it's been better than my partner's flashy Audi!

I guess you have to look at it in that would you wear the ring, what do you think your grandmother would have wanted you to do, what would your family think of you selling the ring. If the stress of studying and working is causing you extra stress and pressure and it sounds as if you're under enough pressure as it is, then sell the ring as that may ease some of your worries. Good luck!

Chrismojam

corsanita wrote:

Guys...I have a dilemma on both a sentimental & practical level.

I live in a very rural area with essentially no public transport. I'm currently 'sharing' my Dad's car, but this really isn't working. I don't need it during the day (for now at least I'm working only 20mins walk away from home) but I need it evenings & weekends and potentially days too from April. I'm working full time, studying part time for my seriously demanding masters and due to a potential new career am going to the gym/running on the beach five days a week. This weekend transport arrangements have totally killed my schedule. I'm under a phenomenal amount of pressure and feel utterly trapped, isolated and unsupported without any means of transport.

My grandmother left me her engagement ring when she died. It's been held for me, it's worth enough to get me a little runaround/lifeline. But I am *loathe* to sell it for sentimental reasons.
My debts are not huge at the minute, but my work is far from secure so I'm not totally comfortable taking on any more. Also, I have only been a named driver for a few months despite being over 25 & having my license since I was 17 so insurance quotes for a 2.5k Ford Ka were still in the £700s....The thing is that I'm feeling increasingly desperate/trapped so I'm thinking maybe the extra debt would be worth it for my sanity.

Thoughts?

I obviously don't know your gran...but if she is anything like my lot would have been .,...and what I would be like also .....she'd be thinking what good is it now....if it's worth anything...and it will help you..sell it!! help yourself!!...it won't follow you into the next life;)

Help yourself NOW..it's what she would have wanted...;)

GirlRacer_2

Yeah my Gran would probably be saying 'get shot of the ring and get yourself out there girl'!

beanielou

I dont know.
I think you could end up regreting selling it even though it seems that needs must.
Do u like the ring?

LavenderLily_2

Personally, I could never sell something as precious as my Nan's engagement ring.

I guess it depends on how close you were to your grandmother.

painted_lady

I would keep the ring, you will never have the chance to have it again. Could you not sell it to a family member and buy it back?

katecheshire

Why not find out how much you would get for the ring - it may not be as much as you think and that may decide for you. If it wouldn't give you the money you need anyway it's not worth regretting the sale later on.

Your first year's insurance will be higher anyway but your age will be in your favour. Approach your Dad's insurance company initially and see if they will give you a good deal for a second car and let you pay monthly. But also shop around on a comparison site where you only have to put your details in once. I would definitely not be spending £2500 on your first car. Like alyth suggests, get a cheapie. Even if you only keep it for a year it will help to get your insurance down the following year. Also get no claims discount protection if possible. And look at whether breakdown cover is included as some of the very cheap ones don't.

Damocles

To quote an old friend, 'You're a long time looking back'. Selling something that has been passed to you in this manner is something you will have a long time to reflect on. An item like your grandmother's engagement ring is not something that can be replaced. Personally speaking, I would keep the ring.

saxmund

Buy a cheap car, insure it 3rd party and it should be cheap - in rural areas lots of people run old bangers because they need to but can't afford to spend several thousand pounds, so there should be a few around. Best way is to put the word out among friends, relatives etc - people who would be embarrassed if they sold you something unroadworthy.