Having to sell your PAJ

[Sparkzz]

I've just advertised my 330 for sale, regrettably its costing too much to run. With some fore thought I may have prevented this but hey - ho.

My insurance renewal has just come in, increase in price of 60%, can't find anything much cheaper online either. I'm paying what I consider to be a massive amount of VED considering my mileage + the running costs have been average at best.

I'm actually finding this somewhat upsetting - I could afford to keep the car on, but I'd be stretching myself to make someone in the Government or insurance broker richer.

Has anyone else had to sell their car and really felt it?

[matthias73]

No. I've always broken them.
The only time I had to sell a car was when I was living in Canada and I managed to sell it 5 days before I returned home.

Never felt more relieved in my life!

[surveyor]

I had a 3 year old 730d back in 2008. Business had nose dived, and I feared the worst and needed to lose overheads fast.

Fortunately I'd bought well, and rang round dealers until I found someone who knew he could sell it straight-on and was happy to pay what I needed.

I then bought a ten year old Saab for cash and wondered why I had not done it before. Had no car repayments since. There's no point stretching for a car IMO.

[Fun Bus]

Sparkzz said:

My insurance renewal has just come in, increase in price of 60%

Have your circumstances or licence status changed or something?

[Fattyfat]

surveyor said:

I had a 3 year old 730d back in 2008. Business had nose dived, and I feared the worst and needed to lose overheads fast.

Fortunately I'd bought well, and rang round dealers until I found someone who knew he could sell it straight-on and was happy to pay what I needed.

I then bought a ten year old Saab for cash and wondered why I had not done it before. Had no car repayments since. There's no point stretching for a car IMO.

This. Embrace shedding, you know you want to

[Steffan]

Fun Bus said:

Sparkzz said:

My insurance renewal has just come in, increase in price of 60%

Have your circumstances or licence status changed or something?

It does seem excessive? More to this?

[Sparkzz]

I've picked up 3 points since last year. (Speeding)

Even without them I'm still looking at 40ish % increase... I wasn't expecting to see such increases.


I just can't justify paying so much for it. I do have another car to run also.

I'm hoping I can re - embrace something nice again in a couple of years (prospected better off financially, older, more NCD etc.)

[0a]

It seems strange that the increase is so much, 3 points is "fine and expected" in my experience regarding insurance quotes - have you been around all the major comparison sites and got quotes from those not on the comparison sites? Tried adding an old person (I use my mother and it saves me £150 even though she's driven the car 200 yards) and changing the excess? Have you rang your current insurer and said you will be leaving the, unless they can match last year's quote?

[ModernAndy]

Yeah, had to sell my Volvo S60 T5 with all the toys when I left the world of being an employee and entered the world of business. Just a price that needed to be paid to get on the path of making my life better. My biggest regret though is selling it to a complete and utter wker

[Steffan]

Sparkzz said:

I've picked up 3 points since last year. (Speeding)

Even without them I'm still looking at 40ish % increase... I wasn't expecting to see such increases.


I just can't justify paying so much for it. I do have another car to run also.

I'm hoping I can re - embrace something nice again in a couple of years (prospected better off financially, older, more NCD etc.)

Take a leaf out of Surveyor's book. Drop the car and reduce the costs. It is a reality check IMO. In consequence as your insurance premium reduces and NCB increases and your own age also increases the insurance costs will fall dramatically. As surveyor rightly says, then in time you may well realise you do not need the expense permanently. Keeping control of costs is a good step to financial security. I would also seek to make efvery effort not to get more points.

[siovey]

Yep, I know this feeling. Yesterday I went back into work after new year to be told i'm being made redundant and was sent home. I'm screwed if I cant get another job soon so the m3 will be going. Gutted

[Sparkzz]

siovey said:

Yep, I know this feeling. Yesterday I went back into work after new year to be told i'm being made redundant and was sent home. I'm screwed if I cant get another job soon so the m3 will be going. Gutted

Sorry to hear this, I'm lucky that I'm pretty safe with work for 18 months. Then I either get kept or shown the door.

[0a]

siovey said:

Yep, I know this feeling. Yesterday I went back into work after new year to be told i'm being made redundant and was sent home. I'm screwed if I cant get another job soon so the m3 will be going. Gutted

what do you do the job market is picking up, best of luck!

[surveyor]

I comforted myself with the fact that the Saab was 1/20th value of the BMW, but not 1/20th of the car.

I had one big bill - £350 for a throttle body. This was less than one months payment on the BMW.

[siovey]

Thanks chaps. I was an account manager/ business dev manager. There's plenty out there so hopefully something will come up soon

OP, sorry for the o/t post

[Sparkzz]

I just feel a abit knobbed by the insurance company, I worked and saved a long time to get the car I wanted for the weekend (which for someone of my age and position was an achievement)

Now I'm pretty much forced to get rid of it because I assumed the insurance would stay the same or come down, I did budget for the rise due to the points too.

Never-mind, I'm already looking at a £500 golf GTI MKII...

[Sparkzz]

siovey said:

Thanks chaps. I was an account manager/ business dev manager. There's plenty out there so hopefully something will come up soon

OP, sorry for the o/t post

If its any conciliation I imagine getting to that level in an industry makes you desirable, might be a blessing onto better things.

I'm waiting for my friends/co-workers to make the comments about my loss of (perceived by them) status symbol.

[0a]

Sparkzz said:

I just feel a abit knobbed by the insurance company, I worked and saved a long time to get the car I wanted for the weekend (which for someone of my age and position was an achievement)

Now I'm pretty much forced to get rid of it because I assumed the insurance would stay the same or come down, I did budget for the rise due to the points too.

Never-mind, I'm already looking at a £500 golf GTI MKII...

A cooler and more driver focused car...

[ModernAndy]

Sparkzz said:

Now I'm pretty much forced to get rid of it because I assumed the insurance would stay the same or come down, I did budget for the rise due to the points

Just remember that you also said the VED and running costs were also an issue. On the insurance issue, maybe you need something a bit less powerful anyway as I get the impression that a few more points will mean you lose your licence entirely. Better to swallow your pride and get an even better car when the time is right.

[Med1c]

surveyor said:

I comforted myself with the fact that the Saab was 1/20th value of the BMW, but not 1/20th of the car.

I had one big bill - £350 for a throttle body. This was less than one months payment on the BMW.

Very good comments - we purchased a Saab aero 250 bhp estate for pocket money and bar a couple of minor issues the car has been brilliant as a family vehicle.