Mortgage question linked to car replacement
Discussion
Hey guys and girls, hope I have put this in the right place as it is looking at things from more of a mortgage side which is why I am putting this in this section.
Ok my situation is I'm currently a single a guy living with a friend and his gf in a rented house, I'm 33 this year and looking to get myself on the property ladder over the next few years. Job wise I live in Lincoln and I'm a qa analyst on what I'd consider a reasonable salary, although who doesn't think they should be on more money than what they are. I've got some debt that I am currently working on clearing and hoping to have this cleared within the next 18months if not sooner, then hopefully I can have a deposit saved in around another 12months if my situation remains the same.
However my car is currently a concern for me as really I'm getting to the stage I'd like to replace it, but with the afore mentioned house stuff I know this would affect this so I am trying to avoid it if possible. I drive a 2005 seat Leon fr tdi and currently doing around 2-30miles a week and the car has done just under 92k, however I'm currently suffering transmission issues with flywheel chatter and not sure if I have syncromesh issues as well as linkages or not but I am keeping the mileage low to postpone dealing with this.
In an ideal world the car would carry on for 2/3yrs till I get myself on the property ladder and I could deal with this then, however if my hand was forced then I'd have to spend the best part of a grand for a gearbox rebuild or replacement with new clutch and flywheel if not more which is more than half the value of the car. The turbo was rebuilt around 18 months to 2 yrs ago so this plays on my mind and my mother thinks I should look at replacing, but this would then raise the question of which would be the better route for me if my hand was forced?
New car option is of course appealing to me and some options with leasing but just giving money to never have option to buy car, the pcp or contract hire where you do but you need more down and they cost more per month to buy and the things that go with this. Then there is a loan to get another second hand car, but sometimes it is better the devil you know and to get something what I'd consider worthwhile I'd want to spend a bit more but this is probably me wanting features I don't already have.
The other factor is my car is part of what I'd consider my entertainment budget, I do a few of the vw shows a year with a group so there is this factor I would consider as well. In the back of my mind my options would be a new polo on some sort of finance, or looking at a scirocco or golf of around 10-12k but like I say I'm looking at a what I'd like and maybe that is the issue. So trying to go back to my ultimate question what would the best option be if my hand was forced? (Now wondering if I need to lower my requirements further for a house, so maybe a mk5 golf of half the budget if I can find a good example or worse still gulp a really small city car)
Ok my situation is I'm currently a single a guy living with a friend and his gf in a rented house, I'm 33 this year and looking to get myself on the property ladder over the next few years. Job wise I live in Lincoln and I'm a qa analyst on what I'd consider a reasonable salary, although who doesn't think they should be on more money than what they are. I've got some debt that I am currently working on clearing and hoping to have this cleared within the next 18months if not sooner, then hopefully I can have a deposit saved in around another 12months if my situation remains the same.
However my car is currently a concern for me as really I'm getting to the stage I'd like to replace it, but with the afore mentioned house stuff I know this would affect this so I am trying to avoid it if possible. I drive a 2005 seat Leon fr tdi and currently doing around 2-30miles a week and the car has done just under 92k, however I'm currently suffering transmission issues with flywheel chatter and not sure if I have syncromesh issues as well as linkages or not but I am keeping the mileage low to postpone dealing with this.
In an ideal world the car would carry on for 2/3yrs till I get myself on the property ladder and I could deal with this then, however if my hand was forced then I'd have to spend the best part of a grand for a gearbox rebuild or replacement with new clutch and flywheel if not more which is more than half the value of the car. The turbo was rebuilt around 18 months to 2 yrs ago so this plays on my mind and my mother thinks I should look at replacing, but this would then raise the question of which would be the better route for me if my hand was forced?
New car option is of course appealing to me and some options with leasing but just giving money to never have option to buy car, the pcp or contract hire where you do but you need more down and they cost more per month to buy and the things that go with this. Then there is a loan to get another second hand car, but sometimes it is better the devil you know and to get something what I'd consider worthwhile I'd want to spend a bit more but this is probably me wanting features I don't already have.
The other factor is my car is part of what I'd consider my entertainment budget, I do a few of the vw shows a year with a group so there is this factor I would consider as well. In the back of my mind my options would be a new polo on some sort of finance, or looking at a scirocco or golf of around 10-12k but like I say I'm looking at a what I'd like and maybe that is the issue. So trying to go back to my ultimate question what would the best option be if my hand was forced? (Now wondering if I need to lower my requirements further for a house, so maybe a mk5 golf of half the budget if I can find a good example or worse still gulp a really small city car)
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