New Car Advice Please

Newyorkdreams

notanewuser wrote: »

Your debt stems from you having things that you can't actually afford. House with no deposit, £18k wedding and honeymoon, blah blah blah.

Perhaps it's time to grow up.

Mmmmm. I think I am mature thank you very much. Don't think I could have survived nearly losing my husband to cancer and successfully holding down a £50K job at the age of 33 if I wasn't.

Everyone on here has a story to tell. I set out to ask politely for opinions and have never stopped being respectful regardless if I disagree or not.

Perhaps you should consider whether telling someone to grow up is equally respectful because I don't consider that to be either mature behaviour or helpful.

NYD

Newyorkdreams

gettingbackontrack wrote: »

Well, what would be helpful?

No matter how many times the pitfalls are pointed out you repeat that you think your plan is logical. But it isn't. You can't expect other people not to see to flaws in your plan.

I think you're being emotional because you want a shiny new car (peer pressure?) and you're trying to justify it.

So I'll say fair enough, but do listen to posters such as Trajal who always offer excellent financial advice based on their own experiences.

I am entitled to my opinion and so are others. I fully expect people to see flaws in my plan! Some things connect with me and some things don't. It's about appraising the full picture and picking out the bits that I agree with rather than agreeing with everyone which is what I'm doing.

I'm not emotional about this. My emotions are fully in check. This is not worth getting emotional over to be honest - life is far too short.

Thanks for your input.

NYD

gettingbackontrack

Newyorkdreams wrote: »

I am entitled to my opinion and so are others. I fully expect people to see flaws in my plan! Some things connect with me and some things don't. It's about appraising the full picture and picking out the bits that I agree with rather than agreeing with everyone which is what I'm doing.

I'm not emotional about this. My emotions are fully in check. This is not worth getting emotional over to be honest - life is far too short.

Thanks for your input.

NYD

Is that you telling me to get lost?

And if mentioning cancer isn't being emotional, I don't know what is....

Sorry, I can't agree with you on your plan. Good luck with your shiny new car and in keeping up with your extra debt. Plus continued good health for both of you.

closed

if you carry on as now, in 2 years time, you (hopefully) would have a car that still works, and has value

if you sell it, and lease, in 2 years time you would have nothing, and would have to fund another car.

apart from the lush looks, this idea hinges on saving money via a difference in mpg, which I think may be far less than you imagine. (and assumes you can get a lease deal, and assumes you can get £7500 for it)

Newyorkdreams

gettingbackontrack wrote: »

Is that you telling me to get lost?

And if mentioning cancer isn't being emotional, I don't know what is....

Sorry, I can't agree with you on your plan. Good luck with your shiny new car and in keeping up with your extra debt. Plus continued good health for both of you.

Thanks, it's much appreciated.

I don't actually have an agreed plan yet but be sure that your input will be taken into account.

NYD

notanewuser

Newyorkdreams wrote: »

Mmmmm. I think I am mature thank you very much. Don't think I could have survived nearly losing my husband to cancer and successfully holding down a £50K job at the age of 33 if I wasn't.

Everyone on here has a story to tell. I set out to ask politely for opinions and have never stopped being respectful regardless if I disagree or not.

Perhaps you should consider whether telling someone to grow up is equally respectful because I don't consider that to be either mature behaviour or helpful.

NYD

I'm entitled to my opinion.

"I want, I want" is a childish way to live. It's already gotten you £50k in debt.

I earned more than you when I had my daughter at 33. DH was earning £50k at 25.

However, at 35 I'm in a position where I don't need to work and I can look after DD at least until she starts school. House is fully offset, we can afford holidays, have cars which were all bought new with cash (1 is now 11 years old, one is 7 years old and the other 2 years old). We have no debt and a rather nice life where we know we can handle most eventualities.

Do you see the difference?

moohound

What is the total cost for the finance on the Mokka?

Newyorkdreams

notanewuser wrote: »

I'm entitled to my opinion.

"I want, I want" is a childish way to live. It's already gotten you £50k in debt.

I earned more than you when I had my daughter at 33. DH was earning £50k at 25.

However, at 35 I'm in a position where I don't need to work and I can look after DD at least until she starts school. House is fully offset, we can afford holidays, have cars which were all bought new with cash (1 is now 11 years old, one is 7 years old and the other 2 years old). We have no debt and a rather nice life where we know we can handle most eventualities.

Do you see the difference?

If your finances are that good why are you on a debt free wanabee site then?

Newyorkdreams

moohound wrote: »

What is the total cost for the finance on the Mokka?

Hi Moohound - about £10K over the 3 years. But to be honest, I'm not sure that I want it now.

Cheers

NYD

Trajal

Ok practical response here, you should enjoy this as it involves spreadsheets and everyone loves excel :-D

I suggest that you do three sets of financial forecasting for next 2 years involving your debts and income based on the following three scenarios:

1. Keep car same.
2. Get lease car.
3. Buy cheaper car, throw money at debts.

Obviously with #3 you will be able to push more money at debts, so you should include that and calculate your debt free date based on that, as well as the 'final asset value' at the conclusion of our experiment.

Then, once you have those (I'm assuming #3 will come out way ahead here), you need to start throwing a few emergencies into the mix.

What happens if:

1. You are made redundant 6 months from now.
2. Your partner is unable to get the funding you thought you would.
3. You have a financial emergency elsewhere in the family which means your parents need an early repayment.
4. You have a domestic emergency such as burst water pipe or boiler that needs replacing.
5. You have a 'major' emergency, force majere style and need a week in a hotel rather than be able to stay at your home.

I cannot for a moment imagine that any of those scenarios would be easier based on you having a newer and shinier car.