New Life Pending.....

enthusiasticsaver

No, I totally get that. I also agree you do not want to be stuck with two cars so my advice would be to wait until you have a leaving date. It does not take long to sort a car out unless you are very particular. Or you could contact a local dealership and explain the situation and sometimes they will hold on to a car until a certain date. Our local dealer did that with my husband when he retired. He had always had a company car but had to buy one when he retired but we did not want two at the same time so he gave them a date when his company were collecting his company car and they let him collect it on that date. They just kept it at the garage until then.

Don't worry too much about the debt aspect of it as you will be getting a company car allowance to offset it but I would not go for an expensive one as they depreciate so quickly. Just a run around and in a few years time when you have cleared the existing debt and got some savings behind you then you can buy the next one with cash.

Iwantanewlife

Good Morning All and Happy Hump Day!

So ive been a bit MIA this week, although still lurking as always. MSE front, its been an ok week, still sticking to budgets although the pots are looking very low. Pay day in 9 days and I cant wait!!

Ive spent most the week looking at cars, i think ive found one but the mileage concerns me slightly. The problem i have, is always driving brand new cars, im not used to older models that would suit my budget!

Looking forward to the weekend (again) sitting in my office, staring at 4 walls is driving me insane!!

enthusiasticsaver

Most modern cars will do higher mileage these days quite happily so I wouldn't worry too much about that. It is the general condition of the car and whether it has been looked after which matters.

Any news on official leaving date yet?

enthusiasticsaver

If you have always driven brand new company cars it is an adjustment moving to used. My husband found the same. Always had new company cars so when he retired it was a shock to find our budget would not run to a brand new 24k car or even if it did I would not pay it on principle. My idea was his last company car could be bought privately but he didn't want that. He has a perfectly serviceable car though and is happy with it. New cars depreciate so quickly

Iwantanewlife

You are so right, i think im just nervous having that much attached to my name, i need to snap out of it really! I suppose to be fair to me ive got a lot of change in a small amount of time so im probably just feeling a bit anxious!

No news yet, they are interviewing for my job today so hopefully they will find someone and get them in place asap, ideally i would like to not come back after Christmas!

chelseablue

You can find some gems about, my car is 13 years old and its only done 59,000 miles

Not that you'd want to go that old :rotfl:

Iwantanewlife

That does sound like a Gem @chelseablue!

wishingthemortgaheaway

I totally agree about newer cars being better on mileage. I've got a 2010 car, done 90k and I'm usually itching to switch at 10 years old/100k miles. But this one (diesel if that makes a difference) is still going strong mechanically. It is a bit of a 'friday afternoon' car - cruise control isn't working, but speed limiter is, CD player only randomly works and there no power going to the phone system at the moment (no idea why, hubby needs to look at it) all very irritating, but the car itself is an incredibly reliable runner.

enthusiasticsaver

Iwantanewlife wrote: »

You are so right, i think im just nervous having that much attached to my name, i need to snap out of it really! I suppose to be fair to me ive got a lot of change in a small amount of time so im probably just feeling a bit anxious!

No news yet, they are interviewing for my job today so hopefully they will find someone and get them in place asap, ideally i would like to not come back after Christmas!

Yes as you say there is a lot of uncertainty for most when you change jobs.

It is important to realise though you get a car allowance don't you with the new job? That is what will be covering the personal loan you take out for the car and it is an asset. You are doing it in the most cost efficient way (low rate personal loan rather than an expensive PCP or lease deal). You will have an asset at the end and presumably when you are sorted out and the other debt is gone you can overpay if you want to. Not all debt is bad.

Iwantanewlife

enthusiasticsaver wrote: »

Yes as you say there is a lot of uncertainty for most when you change jobs.

It is important to realise though you get a car allowance don't you with the new job? That is what will be covering the personal loan you take out for the car and it is an asset. You are doing it in the most cost efficient way (low rate personal loan rather than an expensive PCP or lease deal). You will have an asset at the end and presumably when you are sorted out and the other debt is gone you can overpay if you want to. Not all debt is bad.

Yes i get a car allowance, and you are right and this is exactly what im telling myself. I think as i said its more just lots of change at once thats all. It will all be fine, im in control ... just :rotfl: