Help me feel better about not buying the lovely new SUV that will cost me £620 per month including finance, insurance and road tax?

[sadaboutcar26]

Nissan

My credit is poor

I currently own an 19 Nissan micra

I want so badly to drive an suv, and signed up to the contract

I know what I SHOULD do but I want this car

😭

Your thread title says you haven’t done it but your post says you have?

I wouldn’t spend that money on a car, no. Why is your credit rating poor? That’s a very expensive car for someone without a large salary coming in.

Sorry, ive signed the contact but can cancel as havent got the car yet.

My monthly income is about 3000

If you cancel you’ll have £620 more per month

Paying 350 now for the current micra

Inc tax and insurance

On a car that’s 7 years old?!

620 😱😱

I've miscalculated and its 720.

Qashqai - 500
Insurance 200
Road tax, i'm guessing 17 but might be more

I will consider that my answer

Although yes @ByNimbleGreenFinch 200 for the car fianance and 120 for the insurance and then the 17 or something road tax

Look after your credit rating, kids :-(

That’s a crazy amount of money to spend on a car each month. Cancel it! Why don’t you save that money each month to see if you can actually live without it? That’ll show you if you can afford it or not. (You’re going to struggle)

I earn more than double and I would never ever spend that much on a car!

Pay off the finance on the old one and keep that

£720 a month for a car?!? 😱
That’s daylight robbery.
NO

Thank you everyone. 😞

£500 pcm for a Qashqai?! You’re being robbed mate. AND £200pcm for insurance? Where do you live? The Gaza Strip?!

You can get a lot nicer motor for a lot less money. Honestly, you’d be absolutely MENTAL to go ahead with this.

Inner london - i have no zero claims bonus

Its a 24 place qashqai if that makes a difference? I imagine not 🙈

Thank you - youre right.

Maybe i'll save up for a year and work to clear my debt and improve credit rating 😞

This! How are you paying that much.

I wouldn’t have put a Nissan into the luxury category. But maybe I am wrong

You need to check that you’re not hitting the ‘luxury car tax barrier’ (I don’t know its name). I don’t know how you can be spending 500 and not hitting it. Tax is a lot lot more than £17 if you hit it.

Edit I thought it was a Hyundai. Nissan not luxury either!

Car costs a bit less than 17000

Interest rate of 29% plus a fixed percent amount that i'm not sure of

60 months - 500 per month hire purchase

Road tax cost is the same

That’s insane!

Why are you doing hire purchase!

Its all i was offered

Why don’t you save that much each month/ the difference between the Qashqai and the micra for a year and if you don’t miss it, then you can be confident you can actually afford it in your budget

Please do not do this. It would be an incredibly stupid financial decision. An interest rate of 29% is absurd and akin to loan sharkery.

29% is a ridiculous rate, as is £720 a month for a second-hand Nissan. It’s basically the finance company saying “we don’t actually want your business, but we’ll quote you a silly rate just in case you’re stupid enough to take it.”

If you live in Inner London you don’t need a car.

You can’t afford it. Cancel the contract, cancel the Micra contract, and get the bus for a few years while your rebuild your finances.

If you live in inner London you don’t need a fancy car! The micra does fine. When I lived in zone 2 10 years ago my monthly income was 3x yours and we didn’t even have a car! Give yourself a big shake.

I do need a car lol, but i see your point

Where i am everyone has massive suv's and i'm just there with my dc in the micra 😞