Teddy
Member
Registered: 19th Jul 04
Location: Northampton Drives: VW Bora 1.9TDi pd130
User status: Offline
|
Not good really.
Money is quite tight at the moment really trying to watch what i spend and generally sort myself out.
Talking with the gf last night in an ideal world we want to buy a house in 3 years - but we need to save now. I have been very short sighted over the last couple of years - but for us to be stable in a couple of years then i need to think about this now really in all fairness.
I may have to cash in on the Cav after all
Been looking at Astra sports this morning - alot of car for little money so might consider one of those when or if the Cav has gone
Its not the fact that i cant "afford" the cav but its the fact for what its actually worth now - i could purchase an Astra Sport and have a large sum left over to pay off debts instantly rather than fight to pay them off bit by bit.
I know everyone will say "keep it, its one of your mad moments again" and that is very true it is a mad moment - but sitting down and doing sums on what i spend on the car in total looking at total cost of ownership its scary, its not non affordable but the cash could be better used towards an invest IE a house!
Im 23 now and will be 26 in three years when we want to buy - if i still have my cav turbo and no cash to show for it - im literally knackered.
Im going to see how i get on with the new inproved CDi and i may well just put the turbo in storage and leave it there - but i shall see what happens - i dont fancy "really" using a £100 car in all fairness just need something that i can jump in rain or shine drive etc...........The turbo is capable of doing that i understand that - but ive spent sssssooooo much on it getting it right with no real return and i really do have to think about my future.
[Edited on 02-09-2005 by Teddy]
|
Scandalous
Member
Registered: 23rd Jul 03
Location: Luton-Drives BMW 330Ci Coupe
User status: Offline
|
Exact same situation with me....im selling my astra coupe and buying a cheap, but hopefully reliable run around, and will pay off all my debts, leaving me free money to save towards a house with my fiance. Better than scraping by making payments over the next 2 years or so....I dont wanna sell the coupe, but it will be worth it in the long run.
|
Jamie Walby
Member
Registered: 15th Nov 04
User status: Offline
|
 a serious thread
IMO you are thinking along the right lines......Cav might be good now etc etc but you gotta decide where your priorities lie.
I think you are better off getting rid of the Cav  and clearing your debts. Surely thats the best thing to do!
|
J da Silva
Member
Registered: 10th Apr 03
Location: The FACTory
User status: Offline
|
A good method I find Teddy is work out what this car will cost you a year, from fuel, to insurance and maintenance, if your saving a hell of a lot by going down the astrasport route, then you need to cash in.
|
gtitim
Member
Registered: 13th Feb 05
Location: the boonies
User status: Offline
|
did this a year ago myself. had a 5 turbo which i loved but needed house, so off it went. wasnt the car itself that was too much, just running costs. now own my own home and have newer car!! dont regret doing it, as the house will be the best thing you ever buy!
|
Mark Petty
Member
Registered: 26th Jul 01
Location: Bournemouth Drives: Suzuki gsf600
User status: Offline
|
I wanted to move out so I sold my old corsa which used a lot of my money up. Me and my gf bought a place then a year later we could afford another car so I bought the 172, best move i've done
oh yeah I bought a 125cc motorbike as well to save cash 
|
MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
|
I had exactly the same problem....
I am going into my last year in university now and was paying out a lot of money each month on insurance for the MR2...add to that petrol costs...it was amounting to £300 odd a month...
I dont drink that much so didnt mind forking that out...BUT...after taking a close look at my finances I decided "DO I REALLY NEED TO BE PAYING OUT THAT MUCH PER MONTH" while im at uni...so I sold the MR2 and bought a really nice D Turbo 306. The insurance is coppers compared to the MR2...and coz of my dads business I get free diesel so that doesnt cost me a bean...
Like Teddy I am not one for driving a £100 banger so spent 2.7k on the 306 and paid off some debts with the extra money left over from the sale of the MR2...
It may be a step back in car BUT I see it as taking one step backwards to take 3 steps forward when I become fully qualified as a solicitor then I can buy myself a nicer car again!
Due to my outgoings being less a month now it has meant I can cut my hours down in my part time job I do so it means I can concentrate on my uni work more…which is more important that any piece of metal sitting on my drive!!
I just realised I was at the point where I would sooner have money in my pocket rather than wasting it on insurance premiums and petrol costs!!
It has also took a lot of weight off my mind and I feel better for it now…heres the 306 below:
|
Ally
Member
Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
|
Our council are doing a help to own scheme for young buyers (me and Richie are 19 and 20)
Brand new 2 bed semis for 94k (rather than the usual 130k)
They are also part own part buy so u end up owning and paying a mortgage on half of the house, and you rent the other half of the house from the council (therefor u only have a mortgage for approx 47k ... which more people can get compared to a mortgage for 94k)
Then at the end of the term you have the option to purchase the rest of the house
Quicker you get on the property ladder the better
|
BigSte
Member
Registered: 27th Aug 02
Location: Sheffield
User status: Offline
|
Save for the house mate, cash the Cav in.
It's a lot more fun modding a house than a car anyway
|
mav
Member
Registered: 19th Jun 01
Location: Scotland
User status: Offline
|
always good to try and get yourself sorted when you are young....
do it......
|
