Time to Face The Music

warby68

I'll keep my fingers crossed.
It sounds like it attracts plenty of interest though even if something goes wrong with this sale.
Does the boaty dog get to say goodbye as well? He will have a new set of rules to get used to in the van

Sun_Addict

Brilliant news on the boat sale, hope it all goes through quickly.

RelievedSheff

warby68 said:

I'll keep my fingers crossed.
It sounds like it attracts plenty of interest though even if something goes wrong with this sale.
Does the boaty dog get to say goodbye as well? He will have a new set of rules to get used to in the van

He had his last little run out on the boat on Sunday when the chap who viewed it took it for a short test run. That will probably be his last time on the boat to be honest. We will try and keep him off it now. We only have to go and drop the keys off and leave the paperwork on it once the sale has completed now. So we won't be seeing it either really.

It is a strange one. The chap who is buying it has never seen the boat in person and we have never met them. We will be basically taking his money and leaving him the keys and paperwork on the boat. He is arranging transport and won't actually see the boat until it gets to Norfolk where he plans to keep it.

I'm not sure I would be happy doing that with the thick end of £30k of my money!

alt80

Congratulations on the boat sale and receiving a deposit. Hopefully won’t fall through this time.

Worth considering clearing at least your interest baring debt and saving the extra money you’re not paying off from those to add to the deposit as you’re not buying the van right away?

RelievedSheff

alt80 said:

Congratulations on the boat sale and receiving a deposit. Hopefully won’t fall through this time.

Worth considering clearing at least your interest baring debt and saving the extra money you’re not paying off from those to add to the deposit as you’re not buying the van right away?

We are not going to touch the boat money. It is staying in the savings account until we are ready to buy the van. It is a separate fund to the debt repayments and we want to keep it that way.

We are hoping we can top the van fund up a little as well between now and getting the van to pay for a few bits and bobs that we know we will have to buy for it when we get it.

It might seem strange as we will have the money sat there to pay off all of our debts but we are keen to keep the two as separate entities.

alt80

I get leaving the 0% as it is depending on term/ strategy to pay it. I don’t get not paying those c30% iirc debts off and using the extra money you’re not paying towards those debts towards the van. Doesn’t make much sense to me unless you’ve another way of making more out of the £30k than the interest you’re paying on those cards - if so hit me up with how ha.

Baileys_Babe

If you just paid off credit card 3, £3021 at 29.9% as of 28.1.21 with the boat money and then repaid the boat money with the £200 from CC2 + £200 CC3 you will have repaid the van fund. In 8 months you will have paid £3200 to van fund, saving you from paying interest on the debt, increasing the van fund. After the 8 months divert the £400 back to paying the debts.

RelievedSheff

It may not make financial sense but that is how we are leaving it. We do not want to dip into that fund at all other wise we know that we will be tempted to just keep dipping into it and the money will just dwindle away before we buy the van!

alt80

@RelievedSheff you’re probably a bit like me in a way can deal with having money tied up in assets but any cash money and it’s gone tomorrow. So I do kind of get where you’re coming from tbh.

RelievedSheff

alt80 said:

@RelievedSheff you’re probably a bit like me in a way can deal with having money tied up in assets but any cash money and it’s gone tomorrow. 

Exactly the same. This money will be burning a hole in our pocket until it is put into a van  

May can't come round quick enough.