People will adjust their spending habits in order to afford their mortgage

wotsthat

Graham_Devon wrote: »

So out of interest, as the majority appear to feel there will be no real impact on families when rates rise....why did Mervyn King state many in their 30s and 40's would find it unsustainable if rates rose?

Load of nonsense?

Call the police - there's a strawman on the loose.

ash28

Graham_Devon wrote: »

People buy cars on loan for all sorts of reasons. At one point, my job demanded I had a car under 5 years old. Had to look OK when visiting clients.

Plus a bit more reliability in general. If you are doing 15-30k miles a year, would you want to do it in a £1,000 car? I wouldn't. Been there done that and spent too much time trying to fix things and being stranded.

I don't actually have a car loan, but I would if I had to. Plus I don't think 7% interest is particularly expensive for a general loan?

If I was doing under 5k miles a year, I'd certainly be on the side of buying something, anything. But I'm doing closer to 20k a year.

Our 2 daughters have older cars....one has W reg micra, her mileage to work and back is around 10k a year then there's all the running around she does - perhaps another 4 or 5k - her car is absolutely sound - starts first time regardless of the weather has needed no work other than routine maintenance and new tyres.

The other daughter has a 53 Ka, she works for an estate agent and so does a lot of short journeys for viewings and it's been a good little car - other than routine maintenance and tyres it had one of the massive springs on one side at the back go (I was in it when it happened) it cost £80 in the local garage to replace.

I used to have (until last year) a 1994 Honda Prelude 2.2 auto - I had it from 1998 and it was really reliable, apart from tyres, one exhaust, one dirty 4 wheel steering sensor and one window mechanism replacement, it never needed any work either.....I sold it for well over £1k (almost had my hand bitten off)....I wish I'd kept it.

Cars don't have to be new or nearly new to be reliable...they have to looked after - imho.

N1AK

Jack_Johnson_the_acorn wrote: »

Do explain how incredulous should be used

Incredulous is an adjective and thus should be applied to a noun; so: the incredulous nun smiled incredulously but even that couldn't increase the incredulousness of the room.

However it isn't a thing in itself

N1AK

ash28 wrote: »

Cars don't have to be new or nearly new to be reliable...they have to looked after - imho.

How a car has been looked after is of course very important but that doesn't stop it being true that, all other things being equal, a newer car will on average have fewer issues.

That doesn't mean there's never a case for owning an older car, however that is a large part of the reason why an older car has a price discount.

ess0two

11 pages,move along Graham nothing to see people will cope as usual.

andyroberts1967

Newspapers and magazine subscriptions would save me at least £50/month, I think I'd start there. Plus I'd cut down on non-essentials like going to the pub and eating out. (Probably another £160/month). I don't think it would be difficult to cut this amount.

wotsthat

The OP is trying to save £2124/ year.

The average family must spend more than that on holidays every year.

Percy1983

wotsthat wrote: »

The OP is trying to save £2124/ year.

The average family must spend more than that on holidays every year.

I must be far from average then, I don't spend anything like that on holidays.

On a good money saving tips, I have found travelodge/premier inn sales to be good for a weekend away in another part of the country.

wotsthat

Percy1983 wrote: »

I must be far from average then, I don't spend anything like that on holidays.

You do surprise me.

Percy1983 wrote: »

On a good money saving tips, I have found travelodge/premier inn sales to be good for a weekend away in another part of the country.

Mrs. Percy must have to pinch herself.

OffGridLiving

Percy1983 wrote: »

I must be far from average then, I don't spend anything like that on holidays.

On a good money saving tips, I have found travelodge/premier inn sales to be good for a weekend away in another part of the country.

You mustn't have kids then.