Anything I can possibly do?

JayLeeMillar

BeenThroughItAll wrote: »

I'm sorry, but respectfully, that's cobblers. You say cars are 'your thing', but if they really were you'd know that an older, cheaper car does not automatically mean an unreliable car. I've owned plenty of cars from £40 (yes, FORTY pounds) to £40K and they've all had problems here and there.


Chosen carefully, a cheap car can be every bit as or more reliable than an expensive one (in fact, my 40 quid Volvo 440 I bought in 2005 just to get me from one end of the country to the other cheaper than a train ticket. It was so good I kept it for six months and 8K miles, before selling it on eBay without tax or MOT for £84. About 12 months ago, I saw it on the road near me, still going).


Sounds to me that when you say cars are 'your thing' you mean 'a new car to impress my friends' is your thing.


Believe me, I've been there. No one gives a damn what car you own in the long run.

Sorry but thats a bit of an unfair statement. When I say cars are my thing I mean I've always liked cars, I'm a sporty car kind of person. I've driven alot of cars over the years & unfortunately never had the best of luck with them, even cars dirt cheap, do you think I bought this as my first car?? Hence why I opted for a brand new car, which was covered under warranty from the dealer for the 100,000 mile. The part about showing off is a bit absurd. I'm not some under age hooligan who flees about the streets & does handbrake turns etc. I am actually respectable & courteous on the road, I don't drink or smoke or do drugs for that matter, I have a good job, so why shouldn't I have a nice car? I'm not saying I'm struggling for money in the least, I'm simply asking is there anyway I can put some money aside a month, what are my options. You have read this & just found it appropriate to isolate than be helpful.

JayLeeMillar

ch3101 wrote: »

Right now you're in "negative equity" on the car.
It now depends on what you need/can afford.

What I suggest you do is choose a few other cars that would be reasonable alternatives. Open up Excel and crunch the numbers, assuming manufacturer's given mpg, cost to buy, cost of finance, cost of maintenence.

Then choose the correct option (the cheapest one).

With regard to your car, I can imagine roughly what it is, ein Auto?
You'll find many second hand cars that are much, much more fun to drive.

Oh believe me my friend, I have done that before. I agree, second hand cars are fun, but then when they start going constantly it then costs alot of money. Hence why a car covered under Warranty sort of appealed to me aswell.

The car I have isn't an ein Auto I'm afraid

JayLeeMillar

caffsean wrote: »

"Yes I am able to pay the full amount due on my bank loan in one payent at any time"

If you can really do this then wouldn't this reduce your monthly outgoings enough to start putting a little more away for your godchild etc and it would also cut the amount of interest that your paying on it.

I don't have the money to pay it off fully yet. I should have worded that better

But yes you are right, it would bring the cost down significantly.

JayLeeMillar

opinions4u wrote: »

My head hurts after reading that.

Unless you have anything useful to say then I suggest you you take your comments elsewhere

JayLeeMillar

BillJones wrote: »

You can get a brand new car for around £8,000, if that;s really your thing, or get a perfectly reliable, perfectly nice "normal" used car for £5k.

Once your finances are in better shape then you can look to start getting nicer things again.

I agree with that, I was actually looking at cars round about that price before I opted for the bigger price tagged car.

I was actually looking at perhaps getting a van, but yet again, not ideal financially.

But yeah, thanks for that

heartbreak_star

Are you putting money aside as an emergency fund for yourself?

HBS x

gb12345

JayLeeMillar wrote: »

why shouldn't I have a nice car?

Because you clearly couldn't afford the one you wanted - you had to pay for it entirely on finance/loans.

BillJones

JayLeeMillar wrote: »

why shouldn't I have a nice car?

In your case, at the present time, I'd say because you can't really afford it when you are looking at making savings.

To give a bit of advice, I, too, am very much into cars, and am fortunate enough to be able to have some nice ones. I don't, though, always buy new. There's a nice middle-ground of reliable, reasonably priced cars, tha may well be better for your needs. I bought an SLK55, for example, for £18k, used it for a year and a half, and sold it for £15k, with zero work needed in between. Had I been unlucky and needed work done I'd have rented a golf or fista for a week while it was fixed.

This route will tend to get me into nicer cars than your route, for less money, and so is one that I like to recommend to others.

bigadaj

There a range of options when buying a car, and borrowing huge amounts is rarely a good one.

From the sound of you post you've got an insignia, I looked at a year old astra through a main dealer a couple of weeks ago. Two years left on teh manufacturers warranty and just over half list price with 20k on teh clock. I didn't buy because it semed to be ex hire and when I tried to haggle the price went up not down, but something like that is an option with warranty, reasonable risk and lower cost, in your case you could have found something similar for 10-12k, maybe a lesson for the future.

JayLeeMillar

heartbreak_star wrote: »

Are you putting money aside as an emergency fund for yourself?

HBS x

Yes, I have money put away for emergencies. I've also been doing the 52 week money saving thing. Which has helped massively actually :-)

gb12345 wrote: »

Because you clearly couldn't afford the one you wanted - you had to pay for it entirely on finance/loans.

Incase you didn't read the first post, I was declined because of my age & the value of the car. If I was accepted first time for finance I wouldn't be here. If I couldn't afford the car I wouldn't have opted for it. I went for thr car cause I could afford it. My reason for the thread was to ask if there was a way I could put money aside for other things.


To be honest, my question was already answered by Tixy, who was most helpful than some of the isolating & judging characters. I don't think the thread needs to be opened any longer.