Tales from the city

Igamogam

I am in a similar situation - car now costing me money but am looking to replace 12-18 months time so have a bit longer than you. But if its £1600 this time who is to say it wont be that in 12 months time after it has guzzled its way through more fuel than necessary and cost you more for road tax/insurance and like you say you really dont needed a 4x4 in a city environment....... errrum.....I live in a rural spot half way up a mountain and dont feel the need a 4x4.....only farmers need 4x4s IMHO;) If it was me I would think of my purse and the (environment !) and ditch the money pit...but that is me you will have to do the sums:) My next car will be all electric - just had the (free) charging point installed so will have to get an electric one now:rotfl:

ani*fan

I'm now looking at F- type jags to buy...somebody help me.

ani*fan

Just saw your message Igamogam, good, sound advice as always. Thanks for that. I think you're right, the car needs to go, and looking at smaller second hand ones it's quite amazing how low their road tax is.


I'm now on a mission and thank goodness I have some time to sort it and I'm not in a last minute rush at mot time.

Igamogam

ani*fan wrote: »

Just saw your message Igamogam, good, sound advice as always. Thanks for that. I think you're right, the car needs to go, and looking at smaller second hand ones it's quite amazing how low their road tax is.

Yup just about to pay mine - almost gleefully - £30 for the year:)

ani*fan

So I've done a comparison check for car loans and applied to M and S (since I'm such a good credit card customer...lol!) and am waiting to hear back. It's 4.2% which I likely won't be offered but I'll see what they come up with.

I've applied for £5k which, after a quick search of small, not-too-old, low mileage cars, is what I will need to get something reliable that will last.

I'm not too stressed and it all feels much more under control than usual when it's time to change car. However, my total debt is going to sky rocket to over £21k. And I was doing so well. :(

I also have a feeling that part of my current debt is my previous car loan that I transferred to a 0% credit card. Of course I didn't pay it off before the interest free period stopped. I'm officially an idiot but trying to learn from all this.

ani*fan

Or do I ponder a car- free life? And start checking out bus routes and student deals on tickets?


Hmmm...

ani*fan

My parking permit is due for renewal. That's £70. Road tax on this car £285. MOT would come in at about £1600 at least.


That's almost £2k.


If I get a car loan, these things will be cheaper but I'll also be forking out £1200 at least in loan repayments.


I could sell this car for around £1000 I think. I would then save massive amounts by not having to run a car. I'd also have no car insurance payments and might be able to reclaim my AA breakdown renewal that I bought last week, due to start in September.


Over the course of a year, my debt would go down by £3k on top of regular payments. Oh this really is a no brainer.


Car free living, here I come. I will keep you all informed how I get on.

Igamogam

Big step Ani............have you got a bike? Could be that you try car freedom for a while, save the money and then look at it again in 6/12 months time if you find you have to have a car.

ani*fan

Just discovered that in a dire emergency, or maybe even at Christmas, I can rent a car at a place just round the corner from me for £30 a day. Brilliant.

Also I can use the car pool at work for my long once weekly journey at zero expense to me. Brilliant again.

Also there's a bus leaves from the top of my street that goes straight to my workplace in around 9 minutes. Triple brilliant. :D:D

I think this is happening, I think I'm going car free!!

ani*fan

Morning Igamogam, no I don't have a bike but I could get one! And yes, if it's all too much I can buy a car further down the line.