The Three C's - Coffee, Clothes & Credit Cards

Sarahwithlove

So looked into 1st option more. Leaning away from it as has high mileage for its age, one with lower mileage is about 3k more. I'm seriously thinking 2nd option might be better. Less debt and only owing to my dad who I know in a crisis would allow me payment breaks. 

Sarahwithlove

!!!!!!. Deposit paid lmao and car arrives Monday. Borrowed £3k off my dad and rest come from part exchange. Went for cheaper older option. I know it's fine for at least a year. Will be in better financial situation by then as well. Feel happier with my choice. 

Aimingforthegoodlife

Congrats on the car, well done on working out the best options for you! I recently made a similar decision with my car, going for the same age for 40k less miles, it also doesn't have a cam belt and my old car needed that changing and at least £1200 spending on one part! Enjoy the car!

Sarahwithlove

Aimingforthegoodlife said:

Congrats on the car, well done on working out the best options for you! I recently made a similar decision with my car, going for the same age for 40k less miles, it also doesn't have a cam belt and my old car needed that changing and at least £1200 spending on one part! Enjoy the car!

This is a year newer than mine, 25k less miles and cheaper running costs. Plus a years mot and service on it. I feel better knowing I only owe my dad rather than putting it on the cards. 

Willowtree222

Just been reading through. New car for you too! I picked mine up today. £100 a month saved.
I'm also needing an SUV for a back injury.

Think we might work in the same industry as well x

Sarahwithlove

Willowtree222 said:

Just been reading through. New car for you too! I picked mine up today. £100 a month saved.
I'm also needing an SUV for a back injury.

Think we might work in the same industry as well x

I'm excited about it. I'm hoping it will save on petrol as well as its smaller engine so should use less petrol. Though I do less than 5k miles a year which is why I think a smaller engine will be better for me now. 

Oooo interesting. Have you applied for a blue light card? I've just renewed mine, worth the £5! 

Sarahwithlove

Today was going to be a no spend day but that's no longer the case. 

£1250 paid for car deposit, initial £250 went on Natwest card and £1000 was taken from emergency fund. This will be paid and EF replaced when my withdrawal from savings comes in as its next working day. So most likely Tuesday now. Remaining 3k from my dad is sat in my account ready to be paid on Monday. 

Not sure how my car tax will work, new car is £35 for the year and old one was £180 paid up front so still have 4.5 months left on it. I assume I will get it refunded. Hoping insurance won't cost much difference as my current provider on comparison sites are quoting me less than what I paid for my current car. Though this will be due for renewal in November. I will then shuffle my car pots around and have just one which I will refill where needed from the remainder of the money withdrawn. I had to close the saver as I'd locked it until October. 

Tomorrow I'm off for breakfast but it's at spoons so won't be too expensive. Then it's football so £4 for train as still have some ferry crossings left on my ticket from April. I will go 10 mins earlier and park in free parking rather than pay the £6 as weather looks OK. I'm then going for a beach walk in evening with friend. I do need to pop to Mr T or A may choose A as I walk past one to my car after football. Just need some yoghurt and berries for my breakfast smoothies. Need to also think about lunches for next week and get something for that. Best write a list actually. 

Sunday no plans, so will need to tackle the driveway. Deweed and then move stones back ready for my new car. I'll then put weed killer down on other half so can tackle that over bank holiday. 

Skint_yet_Again

Sarahwithlove said:

Urgh seems my last post didn't save. 

OK so hear we go again. 

I have been thinking about the car situation again. I know it's not very MSE friendly but I am wondering if it will be more cost effective to do it now. 

Pros 
Cheaper to run as hybrid and 1ltr vs 1.5
Cheaper to insure about 150-200 a year 
Mot and service not due until Jun 25
Current car needs work doing to pass MOT so cost approx £700-1k which could go towards new car cost. Car has become more expensive repair wise as it's got older. Now 11 years old.
Current car worth more now then in 12-18 months time. 
New car is 2021 plate so hopefully not cost too much in next few years. 

Cons 
Hybrid so more to go wrong with it 
Requires more debt 

I could p exchange my car now, then use 1k saved for this year's car expenses, 3k loan from dad and 3.5k money transfer at 3% on 0% until Feb 2026 and remainder on Natwest which is 0% until Dec 25. 

I would then have all my sinking funds full still and could pay £150-200 a month off debts on stop of my DDs. I would still be on plan for July's VM to be gone before interest but Natwest would most likely need a balance transfer of remainder in Dec 25 and same with Bcard in 2026. I would probably continue to have debt for a few years but I think balance transfer is probably more cost effective for me than taking out a loan. Also my mortgage renews next year and if anything like last time my current provider will be cheapest so won't need to do credit checks. I also would probably get a better rate if current rates are anything to go by so have more to pay off debts. 

I can't make up my mind. My current car is probably worth about 2k-2.5 is it worth paying out another potential 1k on it to keep it running g when it's not cost effective for me anymore? I could look at getting something cheaper and older but then I'd have same issues as I do with current one. I'm also limited due to my back in that I need a small suv type that's higher up for getting in and out of. 

Thoughts please? 

Just delurking to say you may have posted this on Bluegreens thread 😉

Sarahwithlove

Skint_yet_Again said:

Sarahwithlove said:

Urgh seems my last post didn't save. 

OK so hear we go again. 

I have been thinking about the car situation again. I know it's not very MSE friendly but I am wondering if it will be more cost effective to do it now. 

Pros 
Cheaper to run as hybrid and 1ltr vs 1.5
Cheaper to insure about 150-200 a year 
Mot and service not due until Jun 25
Current car needs work doing to pass MOT so cost approx £700-1k which could go towards new car cost. Car has become more expensive repair wise as it's got older. Now 11 years old.
Current car worth more now then in 12-18 months time. 
New car is 2021 plate so hopefully not cost too much in next few years. 

Cons 
Hybrid so more to go wrong with it 
Requires more debt 

I could p exchange my car now, then use 1k saved for this year's car expenses, 3k loan from dad and 3.5k money transfer at 3% on 0% until Feb 2026 and remainder on Natwest which is 0% until Dec 25. 

I would then have all my sinking funds full still and could pay £150-200 a month off debts on stop of my DDs. I would still be on plan for July's VM to be gone before interest but Natwest would most likely need a balance transfer of remainder in Dec 25 and same with Bcard in 2026. I would probably continue to have debt for a few years but I think balance transfer is probably more cost effective for me than taking out a loan. Also my mortgage renews next year and if anything like last time my current provider will be cheapest so won't need to do credit checks. I also would probably get a better rate if current rates are anything to go by so have more to pay off debts. 

I can't make up my mind. My current car is probably worth about 2k-2.5 is it worth paying out another potential 1k on it to keep it running g when it's not cost effective for me anymore? I could look at getting something cheaper and older but then I'd have same issues as I do with current one. I'm also limited due to my back in that I need a small suv type that's higher up for getting in and out of. 

Thoughts please? 

Just delurking to say you may have posted this on Bluegreens thread 😉

Oh haha thanks. I'll go edit lol! 

Blackcats

Sounds like you made a good decision about the new car.  Peace of mind, safety and reliability are so important where cars are concerned.  I bought a newer car last year and whilst it was a lot of money it's great to feel completely confident in the car.
enjoy the footie