Pay ALL your debt off by Xmas 2014!

minicooper272

Put my car in for a service today, it came back with a fair list of things on the way out, and I'm definitely thinking it would be a good idea to get a newer one. Unfortunately it would mean totally wiping out my house deposit savings... Or going back to having just £1000 (which is not a deposit really!)

My OH is trying to persuade me to take out a finance deal and buy a really good car for it, but I just do not want to go down that road again! New debt is not worth it...

Bublin1

Minicooper....sorry about the car.
You are fortunate that you have money to draw on. I don't know how much you have in savings but surely £5000 would get you a good enough car until the debt is gone.

Personally I would not take on another debt...no way.....nope.

minicooper272

Bublin1 wrote: »

Minicooper....sorry about the car.
You are fortunate that you have money to draw on. I don't know how much you have in savings but surely £5000 would get you a good enough car until the debt is gone.

Personally I would not take on another debt...no way.....nope.

I think with part exchange, I could afford £3,500. It's still a step up from this car (£2000 2 and a half years ago!)

amr547

minicooper272 wrote: »

I think with part exchange, I could afford £3,500. It's still a step up from this car (£2000 2 and a half years ago!)

i'd go for a part exchange, spend a bit more and hopefully it will last. i'm still paying for my car and would agree it's not worth taking out a finance deal if you've got cash to buy one out right (i didn't at the time and it was that or no car and therefore no job!)

its been a VERY bad month!!!! my jaw dropped when i saw my balance :eek:

Mat_Lock

Payday tomorrow
Payday tomorrow
Payday tomorrow

Please be a big one
Please be a big one
Please be a big one

hehe I need this, £3.54 left in my account. Lucky that's enough for lunch.

nolongerindenial

minicooper272 wrote: »

I think with part exchange, I could afford £3,500. It's still a step up from this car (£2000 2 and a half years ago!)

Could do what I do and look at bangornomics...

Buy a old banger for less than £500, pay the basic running costs (MOT/Tax/Insurance) and then when it fails / fails a MOT on something major (hundreds to fix), break it for spares if you cant fix it yourself and make your money back buying a new banger.

My daily drive motoring (excluding services as I do that religously at 5k myself), has cost me a total for repairs of less than £15 a month and i drive a 20+ year old car that I bought for £200 unseen.

starnac

Afternoon all. Sorry to hear about your car minicooper the service is due on mine in 300 miles so pretty soon. Hoping the MOT will be kind too.

Min payment gone out today so actually amount the loan has reduced by is £139.10

That brings my total paid off so far this year to.....

#87 £2,471.63/£9,827.73 or 25.1%

:j:j broken the 25% mark :j:j

LouiseJ

#198 Paid off £577 this month.

Feels good to really pay a decent chunk off!

minicooper272

amr547 wrote: »

i'd go for a part exchange, spend a bit more and hopefully it will last. i'm still paying for my car and would agree it's not worth taking out a finance deal if you've got cash to buy one out right (i didn't at the time and it was that or no car and therefore no job!)

Oh I'll definitely go for part exchange. I'm half tempted to just sell my car now and keep an eye out for a good replacement, but I need a car for work...

nolongerindenial wrote: »

Could do what I do and look at bangornomics...

Buy a old banger for less than £500, pay the basic running costs (MOT/Tax/Insurance) and then when it fails / fails a MOT on something major (hundreds to fix), break it for spares if you cant fix it yourself and make your money back buying a new banger.

My daily drive motoring (excluding services as I do that religously at 5k myself), has cost me a total for repairs of less than £15 a month and i drive a 20+ year old car that I bought for £200 unseen.

I live in a house share, so it's just not possible to do anything like this. We go through spells - for 6 months, I was the only housemate with a car. A couple of housemate changes later, we have 4 cars! The driveway is big enough for 2 (and as the longest running housemate, I can firmly claim one of those spaces, but I can't take any more than that).

minicooper272

Righto, I'm off now until Tuesday. I'll be checking in on my tablet though, to make sure you're all behaving and haven't burned the thread down

Enjoy your weekend all I'll get updates when I get back!