Loan for a car

catwoman73

I do a lot of work for housing associations and councils for my job (a graduate building surveyor) and drive around their estates where a lot of people are on benefits / minimum wage etc. yet they own almost brand new cars

Not everyone who lives on council estates are on benefits/minimum wage. Lots of people will be working and have bought their houses at a discount and have a small mortgage and a good disposable income.

If they are disabled they might be using their DLA to pay for a car.

I live in an ex LA house that I own with a relatively small mortgage and I earn an above average salary in an extremely secure job, and drive a brand new car that is on a PCP deal.

I could have paid cash for it out of my savings but it's on 0% finance, which I had to take out to qualify for the 3 year free servicing deal. It's also a city car, so the insurance, tax and fuel are very cheap compared with a larger less efficient car.

19lottie82

OP - If you do a lot of driving for your job, shouldn't your company be providing you with a company car or allowance?

suicidebob

So a graduate building surveyor earns not much more than minimum wage?

chanz4

likely to be motorbility

bobsy852

suicidebob wrote: »

So a graduate building surveyor earns not much more than minimum wage?

£19k before tax? Doesn't feel like it gets me very far! Although just glad I have a job! Really trying to get on and get chartered within my job so my wage can increase! Looking at 2 years for this though!

19lottie82 wrote: »

OP - If you do a lot of driving for your job, shouldn't your company be providing you with a company car or allowance?

I get fuel allowance but have to provide my own vehicle!

nomoneytoday wrote: »

The old one needed a new exhaust and spring in the last year, with a clutch and possible driveshaft due in the next year. Add in a £200 service, and assuming a £400 annual parts spend, trading in the old one gives already £1400 odd towards a new one. That's if nothing else goes wrong or gets flagged at MOT time. I am not a mechanic so can't DIY too much.

See I'm a little handy with cars. I can change the suspension etc. my self. I know it's going to need new dampers soon but I can change them for <£200. Servicing costs me the oil & filter, so around £40 a time. It's just had the clutch & timing belt done.
As long as it keeps running it's cheap for me to run and good on fuel.


It's just how long it'll keep going once a new driver is behind the wheel! haha I know I've had some accidents in my time driving so I feel it's inevitable my girlfriend will too then we'll be without a car!

19lottie82

bobsy852 wrote: »

£19k before tax? Doesn't feel like it gets me very far! Although just glad I have a job! Really trying to get on and get chartered within my job so my wage can increase! Looking at 2 years for this though!

Stick with what you have for the moment OP, being able to do repairs yourself is a HUGE benefit....I should know my DH is a mechanic!

Maybe when your wage increases, consider something new, but at the moment your wee Clio will get you from A-B when you're on a moderate wage.

lexon123

Don't get disillusioned by people driving cars worth more than your yearly salary. Different people. Different priorities. I have friends on the same salary who spend upwards of £900/month (if you combine, cost of hire/service/insurance/fuel) on their cars. It's an insane amount of money going down the pan in my opinion. For them, driving in luxury is what they work hard for and what makes them happy.

I'd rather be mortgage free than drive a 14 plate. : )