Negative equity

mark1959

Lucky_Duck wrote: »

My (now) ex managed with a baby while owning a TT roadster, it wasn't the best but was doable

What does this mean?

custardy

mark1959 wrote: »

What does this mean?

It was a similar 'impractical' style of car.

IamNotAllowedToUseMyName

neilmcl wrote: »

The fact the OP states an "early termination amount" suggests that has already been calculated.

The numbers in the original post aren't the complete picture - "I owe £9k and the early termination amount is £8.5k" is one confusion.

The easiest way to understand the OP's actual position is to have the proper numbers - the valuations and negative equity numbers are just confusing, it is trying to confirm whether the £7k is the amount actually paid including the deposit, therefore the £1500 is the termination fee.

The reality is that if there is £1500 to pay on termination, then that represents 7.5 months of motoring - that is a lot of money to throw away. The insurance will be required to be paid on any replacement car. What we do not know is how long the PCP agreement has to run, for example.

I'd tend to agree that with a bit of thought, a small baby in that car is not too big a deal (unless the OP ends up having a cesarean then there would be big issues about stretching and reaching). I am stunned at what people have been conned into thinking is necessary to bring up baby. A shoulder bag for nappies, a car seat and a small buggy is all that is needed, if you think you need a crossover or such like to cope with one small new born, then £1.5k is going to be a drop in the ocean compared with the other costs you are going to blindly incur. A Golf cabriolet can take 4 adults so there is enough room in the back for a car seat (it has isofix) so I think the OP is thinking of throwing away £1.5k for a bit of convenience rather than that the car is unusable. (We used a 2 door Peugeot 205 which was new at the first newborn and lasted till the 2 kids were 5 or 6).