The 'We're saving for a deposit' thread

savingmummy

ShAnE wrote: »

Hi all, I thought i'd chip in with my story.

My original plan was to start saving for a new car, having saved up £6,000 I haven't been able to find a car I truly want, and to be honest my current car is still running fine *touch wood*. So i decided, i'm almost 25% of the way towards a deposit on a house, so why don't I just keep going??

I'm currently renting a shared place for £400 a month including all bills so i'm hoping I can save approx £600 a month towards my total.

:T Have to say a house is far better then a car!
SO many people spend so much on a car when they could do what you`ve chosen

Once you have your house you can then save for a car :j

nat21luv

I'm saving for a newer car because my current one is 13 years old and costing a fortune. It won't pass it's mot and repairs are estimated at £500 minimum. It just won't be cost effective. I feel it's on it's way out too and need a car for work, needs must.

quintwins

Nothing wrong with saving for a new car but imo it doesn't have to cost a small fortune and he all shiney and new, you get some decent 2ndhand cars, our current car was £1800 3 years ago, runs well we've never had any major issues with it, we expect to get a good few more years out of it. i car loses value as soon as you drive it off the forecourt but that doesn't make it a worse or less reliable car.

If i were you shane i'd just keep savings til my car was either to expensive to get fixed or dies, aslong as you keep a buffer for the kind of car you would like theres no need to hurry into a decision, i wouldn't throw all your money at a house because sods law will be your car breaks the next day:rotfl:

MiddyMum

Im saving for a car before a house deposit, but my budget is only £1500 max. I am car-less at present. I just want a little cheap run around...but I agree if you already have a car, have 6k already and cant see anything you like you might as well keep going for the house deposit.

ShAnE

quintwins wrote: »

Nothing wrong with saving for a new car but imo it doesn't have to cost a small fortune and he all shiney and new, you get some decent 2ndhand cars, our current car was £1800 3 years ago, runs well we've never had any major issues with it, we expect to get a good few more years out of it. i car loses value as soon as you drive it off the forecourt but that doesn't make it a worse or less reliable car.

If i were you shane i'd just keep savings til my car was either to expensive to get fixed or dies, aslong as you keep a buffer for the kind of car you would like theres no need to hurry into a decision, i wouldn't throw all your money at a house because sods law will be your car breaks the next day:rotfl:

When I say "new" car I mean a 4-5 year old car. The money saver in my just couldn't justify buying a brand new car.
Plus I do a bit of car detailing in my spare time, so it doesn't have to be shiny, because i'll make it shine later on.

The GF said the same thing about the car breaking down the day after I (eventually) buy a house. But then I also plan/hope to ensure I have a buffer for the next car/ lifes little emergencies.

Sylvia1982

I too am saving for a car (i'm currently car less at the moment) as i will need it for commuting once i purchase my first home. I totally agree, there is no actual point in buying a brand new car just for it to lose so much value within its first two years (depending on make of car). I will be looking for one that is at min 5 years old

Starbrite

I was trying to work out if I could live without a car today, when I collected my car after its service, Amount of money I spend on it every mth is horrifying. Most things are paid yearly but divide then by 12 = 21.66 car tax 70.83 insurance 16.66 service 160ish petrol 12.50 MOT = 281.65 a mth! 3,379.80 A YEAR!!! Thats not including if things break...


However driving down the road with the roof down, looking at people at bus stops and thinking "Bus W****rs is priceless. Also having random people yell nice car is nice shame they are either teenagers or old women! Why do the 36-46 age rage of men not coment?

savingmummy

Hope i didnt come across rude :eek:

If its needed then of course you need it, BUT i was meaning people who dont need a new car (ie the existing is fine) and waste so much when they could be doing something far more important.


Hope that makes sense :rotfl:

[Deleted User]

A little monthly update for me - I have managed to keep my regular saver going this month, but only managed to put a few extra pennies away above this (much less than I tend to aim for).

I have a holiday booked (nothing flash, but got to live a little).

next month should be better - but at least it's still heading in the right direction.

D9

nat21luv

Not rude at all. When I say new I mean £4k budget and that's to include my insurance. Had a focus but the yearly tax was more than the insurance! Looking at a mini, there seems to be some good deals around and I'm quite happy to travel miles if it means I can save a grand minus travel expenses.