We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Debt about to spiral - advice needed
Comments
-
I would check the current value of your car before deciding anything. Used car prices have exploded since Covid. For example, my 9 year old Jazz is now worth more than I paid for it nearly 6 years ago (I did get a good end of the month deal at the dealers, but it's still a crazy situation)! And my OH's 2008 reg car is now worth 3-4x what it was pre-Covid.
That also means that you'll pay more for a decent replacement for your car if you do downgrade, so it's worth getting a valuation and looking carefully at the numbers before making a decision either way.
Good luck, I'm sure you'll be fine and that things will feel better as time goes on. Congratulations on the imminent birth of your new baby--very little is as joyful and amazing as bringing a precious new life into the world. xx2022. 2% MF challenge. £730/30001 -
Sorry if it's been answered already but why are you spending £250/month on car maintenance? It sounds crazy high. Sure that's not per year?2
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards