Need some advise on messy car lease/allowance situation

wench02

Please bear with me... It's a long one. I currently get a car allowance with job; recently offered a new job.

I currently get circa £300 a month to pay for a car. At my grade of job this should really be a ford focus size one. I do really need something this size for the job I do.

When I started current job, unfortunately the only car that I could get in time was a Ford Ka on a personal contract hire/lease thingy. This was the only car in the dealership that would come in at under £300 for the monthly payments. I hate it. It's too small and is like a tin can to drive. It's on limited milage, which I've already gone over, and I can't change. I have another year left on the lease.

New job offer. Car allowance again. Thought it seemed more money that before. Calculated it out. Nope shoebox money again.

If I take new job, it looks like I'm going to be stuck with a car I detest, and then forking out at least £2000 on excess mileage charges with the Bl**^y thing, with milage for new job. Cant speak to ford until tomorrow to see if i can give it back early. The only settlement figure I can get now is if I wanted to buy it outright, which I certainly do not.

Now I'm really stuck and don't know what to do, or possibly even the point of this post. Thought I'd found a way out of the tin can, and being able to finally (mostly) be able to have a nicer car now it looks like I'm stuck with it, and it least £3k down the toilet for pleasure of owning it (on top on monthly repayments )

forgotmyname

You couldnt get anything better than a KA for £300 a month?

Do you use the car for your daily job? Puzzled by the should be a Focus one for your job position?

Going back a few years the owner of the company i worked for used a 10 year old Fiat X19. Until he got stopped for drink driving, He then bought a Rolls and hired a chauffeur.
When his ban was over he used the X19 again.

Without adding the cost onto another loan your options maybe limited to stick it out until its time to hand it back.

flashg67

Presume you've checked that it is actually worth less than its current value?

Is the shortfall, if any, small enough to sell it to webuyanycar etc and bite the bullet fund the sortfall with a short term loan?

rs65

Have you tried trading it in against a car you do actually want?

jimjames

Do you need a new car? Would used one be better and more affordable?

wench02

I travel around a lot and take a lot of gear with me, the ka simply cannot fit everything in. I have to put a load of stuff on the back seats and on the front seat. Not very clever when I'm using public car parks. And I dearest driving it. In fact I hate just about everything about it.

£300 also needs to cover for insurance, wear and year, repairs etc, so overall there is far less than £300 to spend on a car.

I can't just sell it, as it's on a contract thingy where you pay monthly every month, then either pay a lump sum at the end, or get shut of it

Either way, I've lost all my savings that I had to use as a depôsit on the damned thing (which I didnt have a lot), now due to extra milage I will incur from new job, it's another £2k down the drain on excess milage charges.

I will be doing at least 30,000 miles a year with new job. It's a lot of money, milage and repair to do on your own car.

harveybobbles

Buy a £500 car and pocket the £300 monthly cash?

forgotmyname

Why did you buy a KA if it didnt meet any of your needs or requirements?

You mention £300 needs to cover insurance etc, But how much is your insurance on a car that suits your needs better?

My nephew pays more than that for insurance alone. But he has 2 jobs to pay for it.

Nodding_Donkey

£300 a month to cover 30k a year? Do you get a mileage allowance from work as well? If not you are getting 12p a mile. You couldn't run a moped for that.

wench02

I ended up with the ka as I needed a car in a hurry and it was the only one in dealership I could afford.

No milage allowance for either jobs. The point of weather I hate the car or like it is kind of irrelevant, it's all the money I've poured down the drain whilst I've had it that's stressing me out a and I can't see a way out of it ::(

Hintza

Why are you on here moaning?

You need to speak yo the company you work for and explain that this is costing you money and ask what they can do.

You might not get an answer you like but at least you know where you stand and can then re-evaluate your options.