Help needed!

twohands_2

Brand new to the site,
just wanted some advice if anyone has any!
I am at a crossroads, Unfortunately I have just wriiten my car off which I was paying a finance company around £230 for the next 4 years.

My insurance has paid out to the street value of the car which is £5200.
This obviously leaves a large amount of finance still to pay.Now my girlfriend and I are at logger heads,we are a young couple and we both have sights on a mortgage in the next 3 years.

She is saying I should just get rid of the debt by paying as much as I can as soon as I can.
While this thought is commendable,i need a safe and road-worthy vehicle to get to work, she thinks I should get a (cheap car/banger).obviously I am not keen!
Obviously I dont have an amount of money to pay for a car outright at the moment and I cant see a solution

I bring home after tax around £1050 a month.
car finance £230(4years)
car insurance £100
board/lodgings £200
phone £35(6 months left)

Any help or ideas that people have are very much gratefully received as this is causing friction between us.

Impartial advice is what I need!!

Thanks

red74

Hi there twohands, welcome to MSE!

Whilst I'm not too well informed on car finance, I'm sure you've come to the right place as there are loads of people here who can help you.

One thing I would suggest doing is finding out how much it will cost you to pay off the car finance now, if there's penalties for early repayment then it may not be worthwhile.

Considering the amount of your car loan I'm not sure how much you'll like to hear this but you should be able to get a perfectly good, safe and roadworthy car for apx £1500.