Think I need to sell a car...

FtbDreaming

So we have 2 Mondeo’s mine is 2009 titanium x with all the extra bits and bobs such as electric mirrors, the more expensive silver colour, Bluetooth, new dash auto headlights and basically just feels lovely to drive. Insurance £68 monthly for me and dp as named driver.

Oh has 2011 which is very similar without the bits above. His insurance is £129 monthly for just him.

I need a couple of grand mortgage deposit and am willing to sacrifice a car to get it. Just cant decide which should go? Mine is 2 years older but has all the extra bits and cheaper insurance. His is newer so kind of makes sense to keep the newer one? Both are in excellent condition on bodywork and mechanically.

How on earth do i decide? Just flip a coin?

chunkytfg

Sell yours. Take the OH's as your own and insure it getting yourself some cash and also saving you about £1500 a year in insurance(i'm guessing young or sketchy history?)!!

AdrianC

If you can't decide, then the obvious answer is whichever one would sell easier and for more.

BTW, remember that insurance doesn't cost a certain amount "per month" - you're buying an annual policy, just paying for it monthly on finance.

I presume your OH's a higher-risk driver, hence his premium being so much more for what would otherwise be essentially the same risk?

forgotmyname

Paying monthly maybe adding 29% onto the price.

Do you have any no claims? Sounds expensive.

FtbDreaming

He’s said i can sell his as long as its a decent price. Yeah he has 2 claims on his so its a lot more expensive. Plus we live in an absolutely awful area.

I know its more expensive paying monthly but every year I have the best intentions to pay an annually but then as both cars are at renewal within a week of each other I always only have enough to cover the deposits. Hence another reason why we should really drop to one car to save on the insurance premium.

Ideally id like to get a couple of grand for his and get myself a moped for work then he can use my car more than me as he’s the housewife!

Rolandtheroadie

Biased as I've also got a 2009 Titanium x, but I'd keep it.

Couple of things I'd consider first though, are they petrol or diesel? If diesel, is a diesel justified? Heated windscreen and seats? Service history and mileage on both? Any big servicing bills due?

On the moped front, what's the costs to get set up on that? Bike, safety gear, insurance, winter riding, all the idiots on the road?

Clive_Woody

Sorry to be blunt, but if you do not have the cash to pay annually for car insurance and have to sell a car for a mortgage deposit, can you really afford mortgage repayments as well the maintenance costs of owning a house (insurance - buildings/contents/boiler/etc, ongoing repairs, decoration, furniture, and so on)?

Not trying to be negative, but owning an home as opposed to renting brings in lots of costs on top of the regular mortgage payments.