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  • FIRST POST
    Gonna Do It
    Car or no car how much will it contribute to debt?
    • #1
    • 14th Dec 05, 10:22 PM
    Car or no car how much will it contribute to debt? 14th Dec 05 at 10:22 PM
    I have seen a couple of people on this site saying that they do not have a car as it eats up too much money. This is something I have been thinking about recently, seeling my car.

    I would not get a lot of money for seeling it, maybe 1500, however I think I would save loads over the year, thousands when it all adds up on petrol, tax, MOT etc.

    I hate it when it is MOT time or something goes wrong and you just know it is going to set you back on paying off your debts. It is generally a good car and does not have loads going wrong, but still.

    Has anyone sold their car to pay off deb? If so how has it been?

    Also, would I end up spending more on trains/buses? I work about a 20min drive away, but that may change as may soon be made redundant, and want to work closer to home.

    Plus I think I would enjoy using diff methods of travel and get some exercise.

    I sm just scared that I will not cope without one and regret it!! Sounds silly I know!
    Last edited by MSE Andrea; 19-12-2005 at 3:09 PM.
    Loan & Credit Card Debt at Highest: 13,450.04
    Loan & Credit Card Debt Deb 05: 12,420.40
    Loan & CC Debt Free Date: OCTOBER 2007
    Student Loan: 10,000.00

    Make 2006 a year for clearing debt xx
Page 1
  • phil999
    • #2
    • 14th Dec 05, 10:26 PM
    • #2
    • 14th Dec 05, 10:26 PM
    after doing the sums i am horrified by the cost of my car but i cannot get public transport to my work so i have no choice until i look for another job.


    My car currently costs over £300 a month. :confused:
    I have finally acknowledged my debt.....
  • johannamse
    • #3
    • 14th Dec 05, 11:13 PM
    • #3
    • 14th Dec 05, 11:13 PM
    Go for it! Try some practice journey to works before you sell.

    Also...so what it you get rid of it and after 3 months decide you want another one. Keep £500 back from the sale in a high interest savings ac and go and buy one again. It took us about 2 hours in total to get our last car (looking on autotrader, ringing, collecting) and cost £310.
    • chriz1000
    • By chriz1000 15th Dec 05, 1:51 AM
    • 443 Posts
    • 244 Thanks
    chriz1000
    • #4
    • 15th Dec 05, 1:51 AM
    • #4
    • 15th Dec 05, 1:51 AM
    Iím seriously considering downgrading my car next year.

    Iíve had the car just 3 months and so far maintenance and service costs that have fallen outside of the warrantee including a new turbo:
    £2800 one of payment
    Petrol £250 a month
    Parking £80 a month
    Insurance £2300 one of payment

    Tax and MOT coming up in 4 months!
    Oh and on the M25 yesterday, revving like itís out of gear when accelerating, think the clutch and MAF are on the way out! £990 in labor according to Audi, plus whatever in parts!

    Yes I can defiantly see savings on the horizon by using public transport or downgrading.

    I say go for it, but then Iím pretty !!!!ed off right now with the hole in my pocket!
  • illmonkey
    • #5
    • 15th Dec 05, 9:13 AM
    • #5
    • 15th Dec 05, 9:13 AM
    i had a brand new clio. Cost me £8500. I took it over 3 years, so it was £261 a month. You add £100 petrol, and then say £50 a month to it for tax, servicing etc. You get well over £400.

    I sold it, broke even on the finance, now i pay £88 for my monthly train ticket! I dont miss my car, my girlfriend has one, so if we go out we use hers (its a mini, so its fun to drive as well) i got insured on it for £300 (a month of motoring for me)

    Sell the car, use public transport. Its 1 less thing to worrie about. Cars can be expensive, espically older ones.
    • Spendless
    • By Spendless 15th Dec 05, 9:57 AM
    • 20,442 Posts
    • 34,012 Thanks
    Spendless
    • #6
    • 15th Dec 05, 9:57 AM
    • #6
    • 15th Dec 05, 9:57 AM
    I'm going to go against the others advice and suggest keeping the car until after you know if you're being made redundant. I know you've said you want to work locally, but what if things don't work out that way, what if your dream job needs you to have a car cos of times/location.
  • archived user
    • #7
    • 15th Dec 05, 10:32 AM
    • #7
    • 15th Dec 05, 10:32 AM
    I gave up my car at the end of last month, because although I could have afforded it, id rather chuck £1000 at my debts

    So far it has been quite good for me in many respects, such as:

    1. Ive lost a lot of weight, ie around 3/4 stone in just under 2 weeks as I now walk a lot (about 2 miles a day). A weekly all areas bus ticket costs me £13.50

    2. Getting the bus is quite enjoyable, esp as I have a new lady friend on the bus but it takes 5 mins to walk to bus stop and the bus is quite reliable. Also i get to work earlier as I KNOW I have to get up and get the bus. So every morning im actually in by about 8.40 after a nice walk from the bus stop. Also I got my bike fixed and am loving it. Also it gets you fit and you have a kinda smugness about the lemmings and their precious cars, if you get my drift.

    There are however downsides to this. The shopping is a bit of a ball acher, but im experimenting with doing fortnightly home deliveries to see how it goes. Trips further afield can be harder, but not that difficult if you plan !

    The only other issue is sometimes it rains, but a good warm waterproof coat makes it all ok

    As for saving money, yes I am, but not that much because my petrol bill came to £80 a month before, and the bus tickets come to £54, but there no tax, MOT or insurance. However most of my journeys were 5 miles or less and sometimes you just have to use the local shop even though it costs more for those things you have forgotten.

    Thats my findings so far. That and planning is the key !
    • tattooed_lady
    • By tattooed_lady 15th Dec 05, 1:08 PM
    • 1,555 Posts
    • 1,721 Thanks
    tattooed_lady
    • #8
    • 15th Dec 05, 1:08 PM
    • #8
    • 15th Dec 05, 1:08 PM
    I have thought long and hard about this. My car is old (L reg) and has had various probs over the last year (nothing serious, just age related!) and my parents got it for me nearly a year ago. I've told them that if anything else happens to it I won't be able to afford to fix it. It has a new mot and had a full service in the summer so it's just fingers crossed time really. When it conks out there is no way I could replace it. Cars are a nightmare to maintain anyway!!
    Trying to enjoy life
  • black-saturn
    • #9
    • 15th Dec 05, 2:21 PM
    • #9
    • 15th Dec 05, 2:21 PM
    I sold my car to help me pay off my debts. I didnt get much for it (cant even remember how much now) but it cut out all that petrol, tax, insurance and MOT money you have to pay out. I'm about £100 per month better off. It took a bit of getting used to at first but once I'd got used to planning ahead with journeys it was OK. Now I walk, bike or get the bus everywhere. I live in the town centre now which isnt too bad but at the time I lived about 45 minutes walk from the nearest supermarket (and this was before they did deliveries) and a 90 minute walk from the town centre. Then when all the debts were paid off I realised I didnt need a car at all so I didnt bother getting another one.
  • Gonna Do It
    Great, thanks everyone, I am going to sell it but am going to take the advice of Spendless and wait until I know where I will be working next as I may need it for my new job. That will probably be around Spring time, so will be a good time to sell my car, plus the weather will be a little warmer!!!

    I remember when I was at Uni we didn't have a car and I used to walk everywhere and was fitter and slimmer! So if I could do it then I can do it now.

    Thanks again, have inspired me!
    Loan & Credit Card Debt at Highest: 13,450.04
    Loan & Credit Card Debt Deb 05: 12,420.40
    Loan & CC Debt Free Date: OCTOBER 2007
    Student Loan: 10,000.00

    Make 2006 a year for clearing debt xx
  • Northernbird
    I know you've already made the decision but I did just want to say I think you've made the right one. I got my licence at 18 but I've never had a car. I was at Uni, and then I lived 5 mins walk from work. I now travel 5 hours a day on the train, and I don't think I could stand driving the distance. Things just take a little longer to do. I think nothing of walking half an hour to get somewhere, whereas I know people who would just jump in the car instead. Sometimes it's just nice to enjoy the time walking and talking (if you have an OH).

    I have a Sainsbury's 10 mins away from my house, but I have an Asda half an hour away. Every so often, I walk to Asda, do a massive shop and then just get a taxi back with all the heavy stuff. Costs about £4. Better than the hundreds it would cost to maintain a car on a regular basis. Public transport can be ok. I don't get stressed on a train, I can sleep, eat, drink, read, talk to friends, even make new friends!

    If you live in the countryside, I think cars are essential and practical, but unless I move to the countryside (not any time soon), I don't think I'll ever buy a car.

    Sorry for the waffle. Hope it works out for the best for you.
  • Curlyz
    I have a scooter! I love it. 49cc. Cost £15 pa to tax, £120 pa to insure. A tankful of petrol cost £4 and lasts me ages. 5 years old, had to have very little done to it to keep it running (new tyre was £15).

    Obviously not suitable for everyone - longer journeys probably not recommended, but great for nipping here and there and never have to pay parking charges - can always find a free corner to park. Shopping fits under the seat.

    Highly recommended
  • illmonkey
    jsut to add to my point.

    I get the train to and from work every day. its a 20 minute train ride, and a 5 minute car journey (girlfriend drops me of at station).

    The road i WOULD drive to work on runs parrell to the train line for a few miles and its always solid with traffic. I zoom past them on the train, listening to music and half asleep. Its so nice.
  • black-saturn
    I have a scooter! I love it. 49cc. Cost £15 pa to tax, £120 pa to insure. A tankful of petrol cost £4 and lasts me ages. 5 years old, had to have very little done to it to keep it running (new tyre was £15).

    Obviously not suitable for everyone - longer journeys probably not recommended, but great for nipping here and there and never have to pay parking charges - can always find a free corner to park. Shopping fits under the seat.

    Highly recommended
    by Curlyz
    Do you have to pass a test for that or have an MOT?
  • micheleen
    If you passed your car test before Feb 2001 you should already have a full moped license (category P I think). After Feb 2001 I believe you need to do a moped riding course (whatever that is) before having full license entitlement.
    MOT wise it's the same for all vehicles, over 3 years old and you need one, you can't get road tax without it anyway.
    • Bargain Rzl
    • By Bargain Rzl 15th Dec 05, 5:46 PM
    • 6,174 Posts
    • 21,392 Thanks
    Bargain Rzl
    I have never had a car. I took some lessons just before I graduated, got 100% on theory test, failed the practical. Then decided against retaking because (1) I couldn't really afford it as I was about to move to London and needed an accommodation deposit and a month's rent, and (2) you don't need a car in London.

    In fact, having a car when you live in any well-connected suburb of a major city and commute into town to work is likely to be a huge expense. I know very few people who drive to work - if I did, I'd have to pay parking (£6 a day minimum, outside my office) and congestion charge (£8 a day) on top of petrol, and my lifestyle would have to change because I would no longer be able to go out drinking in London in the evenings. On the other hand, if I had a car purely for shopping, getting about at weekends etc. I'd STILL need a public transport season ticket, so it would be very expensive.

    My public transport costs are about £100 a month for London zones 1-4. If I were to move away from easy access to public transport (which would only happen if I completely relocated) I would make sure I passed my test and got a car. But at the moment I only really wish I had my own transport when I need to get home from my church in Central London on Christmas Day (when there's no public transport) and when in need of picking up something large like a piece of furniture or a Christmas tree. (I lug the Christmas tree home from the garden centre over my shoulder - it's a mile's walk - and if I ever need to buy heavy furniture etc. I can usually sweet-talk my boyfriend or dad while they happen to be in the vicinity!)
  • Mentalminis
    hiya, just had a quick word to say regarding the mopeds, i am not sure if you are allowed to just ride one if you have car licence, as the P catagory is only a provisional entitlement. however i do know that if you don't already have a drivers licence you will have to take a small amount of training, it's called a CBT (Compulsary Basic Training) price for this varys dependant on your area and of course it's more expensive as the years go by, i think it's around £80 now, but back in 96 i paid £55. anyways the training can not be failed, unless of course you do something very very stupid it's just like taking your cycling proficency test except you don't have to pedal and do all the silly hand signals. check out your local driving agencys to and see what they can advise you if you already have your drivers licence.... either way i belive unless you have a full motorcycle licence (catagory A) you will need to display L plates at the front and the rear of the bike, make sure these are kept visible at all times as history tells me the plod are not too keen on those that don't and you get stopped for producers quite a lot.

    the mot,tax and insurance are all required as with any motor vehicle but the prices are hugely reduced and insurance comes at a pitance to car insurance, i pay about a 1/3 of the price for my bike than i do on my car and my bike goes faster top end and gets there quicker, i have no protection around me other than the clothes and helmets i wear, work that one out.

    also a safety note: anyone thinking of riding motorcycles, do not be tempted to buy a second hand helmet, always buy brand new and replace every 3yrs or after a pretty nasty knock, you can get a good BS stamped helmet for as little as £60 from the FM range and it's worth every penny when it's gonna save ya brain from turning to mush after the first little knock... you don't know what has happened to a second hand helmet so don't even risk it.

    I would always recommend that everyone takes a CBT or a full bike licence as it makes you a better car driver also, you learn to look further ahead and plan your driving skills better.

    If anyone would like any other further tips or specialised questions, please feel free to PM me as i want you to be as safe as possible.
  • ronaldmacdonald
    Iím seriously considering downgrading my car next year.

    Iíve had the car just 3 months and so far maintenance and service costs that have fallen outside of the warrantee including a new turbo:
    £2800 one of payment
    Petrol £250 a month
    Parking £80 a month
    Insurance £2300 one of payment

    Tax and MOT coming up in 4 months!
    Oh and on the M25 yesterday, revving like itís out of gear when accelerating, think the clutch and MAF are on the way out! £990 in labor according to Audi, plus whatever in parts!

    Yes I can defiantly see savings on the horizon by using public transport or downgrading.

    I say go for it, but then Iím pretty !!!!ed off right now with the hole in my pocket!
    by chriz1000
    chriz, what is your car? is it an s-line audi?
  • fanlandcheese
    Car bike scooter - costings
    I know that this may sound really bad especially to those considering selling their cars.
    I have a scooter (125cc) for running round london, a bike (800cc)for longer journeys and a classic Mercedes (1600cc) to carry family and shopping. BUT it works out that my insurance is £400 for the bike and scooter and they cost £80 in road tax (bike £65 scooter £15) and the MOT s £23.95 or so each. On average I get 60+mpg from the scooter and 45mpg approx for the bike. The scooter cost me £1600 and the Bike £2700. (resale values half that)

    On the other hand the Mercedes cost me £1000 to buy (is appreciating in value) and as it is classed as a classic vehicle it costs £180 a year to insure. The MOT is about £40 but there is no road tax as it is a classic. I am limited to 5000 miles a year but only average only do around 4500. As the car is 30 years old it weighs less than the equivalent new car and so still gives 40+ mpg.

    If you hold onto your cars for longer the insurance companies class it better as you are not having to get used to a new vehicle. On average it costs me only £30 a week for all my petrol, as I use the vehicle most appropriate for the journey. I have a pay as you go oystercard too for emergency journeys round london, but the scooter wins hands down as you can nearly always plan how long it takes to get from one place to another.

    Overall the parts for all are easy to get hold of and the servicing for the whole year comes to £400 including parts and labour.

    The 3 vehicles are the best comprimise for me at the moment and as circumstances chance so will be the number and type of vehicle.

    If you have a car or bike do your advanced test on average it can save up to 30 %.

    • CheeseOnToast
    • By CheeseOnToast 20th Dec 05, 8:28 PM
    • 352 Posts
    • 52 Thanks
    CheeseOnToast
    My car costs me a staggering £464 a month to pay for, insure and run.

    It breaks my heart but I'm tied in with the finance at the moment, it's on Ford options. I've got to keep paying £212 until May 2006, then I can re-finance the remaining £3000 which although I don't want to do as I know the interest/total amount added to my debt is more, I really need to reduce my outgoings before I default on something.
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