Downgrade your car to become debt-free?
Discussion
TameRacingDriver said:
I'm no expert as I'm not a dad and don't ever intend to be, but a 5-door may have been a wiser choice for getting said sprog in the back.
nah, makes little difference. quite often a 5 door becomes more annoying because you have more doors to get around, open and close. As long as it's easy to move the drivers seat backwards and forwards, you can get the baby in and out easily.Hopefully the OP has bought one of these baby carrier 'systems' in which a base unit stays on the rear seat, and the carrier just gets transferred from the pram base to the car seat base. easiest thing ever.
Efbe said:
TameRacingDriver said:
I'm no expert as I'm not a dad and don't ever intend to be, but a 5-door may have been a wiser choice for getting said sprog in the back.
nah, makes little difference. quite often a 5 door becomes more annoying because you have more doors to get around, open and close. As long as it's easy to move the drivers seat backwards and forwards, you can get the baby in and out easily.Hopefully the OP has bought one of these baby carrier 'systems' in which a base unit stays on the rear seat, and the carrier just gets transferred from the pram base to the car seat base. easiest thing ever.
Well done on the car OP, and all the best with the impending fatherhood. It's hard work but massively rewarding.
When things were going well for me, I financed a Porsche 911 with £27k of lending over 4 years. This was in 2007 - can anyone see where this is going??!
Things turned bad very quickly. I copped a redundancy. I started a small business, and then a second one, because jobs in my industry basically dried up...
I had also entered into a very regrettable, bad property project, with a friend - which also went from a potential money spinner into a hideous liability that took me close to bankruptcy. I also could not get out of it, due to the market crash, so had to finance it's painful continued existence with credit cards - it was either that or the aforementioned bankrupt arrangement. Not something to do lightly.
After 18 months of Pork ownership, it was obviously a financial liability. Trouble was, the value of such a car had basically ended up that the car was worth maybe a third of what I'd paid 18 months previously - so even if I had sold it, I would have ended up owing the finance company about 10k which I didn't have...
So, despite hideous personal debt and negative equity - I had to keep the car until such time as the re-sale value at least met the finance liablity.
This took another 2 years...
So I ended up selling the Porsche and having about 2 grand left over after settling the finance.
With which I bought a Skoda Octavia VRS.
Despite being nearly 40 years old and basically destitute after the recession raped me - I actually love and enjoy my Skoda - especially as I now don't have any car finance at all, and the Skoda is paid for in it's entirity, and mine.
The 30 odd grand I still have left on credit cards after 'fighting financial fires' however is another matter
Things turned bad very quickly. I copped a redundancy. I started a small business, and then a second one, because jobs in my industry basically dried up...
I had also entered into a very regrettable, bad property project, with a friend - which also went from a potential money spinner into a hideous liability that took me close to bankruptcy. I also could not get out of it, due to the market crash, so had to finance it's painful continued existence with credit cards - it was either that or the aforementioned bankrupt arrangement. Not something to do lightly.
After 18 months of Pork ownership, it was obviously a financial liability. Trouble was, the value of such a car had basically ended up that the car was worth maybe a third of what I'd paid 18 months previously - so even if I had sold it, I would have ended up owing the finance company about 10k which I didn't have...
So, despite hideous personal debt and negative equity - I had to keep the car until such time as the re-sale value at least met the finance liablity.
This took another 2 years...
So I ended up selling the Porsche and having about 2 grand left over after settling the finance.
With which I bought a Skoda Octavia VRS.
Despite being nearly 40 years old and basically destitute after the recession raped me - I actually love and enjoy my Skoda - especially as I now don't have any car finance at all, and the Skoda is paid for in it's entirity, and mine.
The 30 odd grand I still have left on credit cards after 'fighting financial fires' however is another matter
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