Car on Finance is a Money Pit

rsd060571
rsd060571 Posts: 3 Newbie
in Loans
Hi

I purchased a used car one year ago. As my credit history is not great I had to do it through a lender who was slightly more expensive but I made sure it was within my budget,

Since buying the car it has been nothing but a problem. In December the Turbo went and cost £600 to replace. In the last month I have had to replace the brake pads, two tyres, the AC condenser and the EGR Valve.

Today it went for its MOT and failed spectacularly. It requires £1200 of work. I realise that buying used that things will go wrong but it is probably the worst car I have had for issues.

I contacted the finance company and basically they don't want to know.

To add to this I lost my job in March and so things are extremely tight anyway. I don't seem to have many options. Either I keep paying for the car and keep it off the road until such time I can afford the repairs or I voluntarily surrender it to the finance company as i can't afford to be paying for a car that I cannot use.

Any ideas or other options would be most welcome.

Comments

  • TadleyBaggie
    TadleyBaggie Posts: 6,055 Forumite
    First Anniversary Name Dropper First Post
    Brake pads and tyres are wear and tear consumable items.
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    First Anniversary Name Dropper First Post
    What is the work is needed to pass the MOT that would cost £1200?

    What garage has quoted and what car is it?

    What is your settlement figure?
  • rsd060571
    rsd060571 Posts: 3 Newbie
    Hi

    Thank you for the responses.

    I realise that Brakes and Tyres are consumables. I was just including the total spend so far.

    The car was purchased through Advantage on HP. Settlement at the moment is around £5000.

    To pass the MOT the car requires a new suspension arm and a Power Steering Ram.

    The Power Steering Ram alone requires around 5 to 6 hours of labour at £75 an hour. The cost of the part is £375.

    I have done a lot of the work on the car myself and whilst I can probably do the suspension arm, the power steering ram is probably a little more difficult without a ramp.

    Thanks
  • gycraig_2
    gycraig_2 Posts: 533 Forumite
    75 pound an hour ? Is the queen fitting it
  • Faintlol
    Faintlol Posts: 20 Forumite
    Sounds like an official dealers price... try and independent shop - they are normally much cheaper. Try a breakers also for the steering arm potentially. Or shop around and get it yourself - not sure on your car but i could get a steering arm for £150-200 here in Northern Ireland pretty handy.
  • rsd060571
    rsd060571 Posts: 3 Newbie
    The UK Average is £67 an hour for labour with some garages charging up to £230 an hour.

    I'm not sure the Queen would want to work on my heap.
  • takman
    takman Posts: 3,876 Forumite
    Combo Breaker First Post
    rsd060571 wrote: »
    The UK Average is £67 an hour for labour with some garages charging up to £230 an hour.

    I'm not sure the Queen would want to work on my heap.

    That average will be inflated by dealerships and expensive areas such as London.

    Where i am a local independent will be £55 an hour at most and the place i go charges £35 an hour for labor (£29 an hour mates rates) which i only use for big jobs i don't want to do myself even at that price.

    So you really need to find a cheaper garage or make friend with a mechanic if your paying £75 an hour!!!
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