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

😭

Blimey that’s more than my mortgage payment and council tax combined. A totally ridiculous amount of money for something that’s going to sit outside unused for the majority of the time.

I take home a similar amount and drive an 18 year old car that’s paid for and costs pennies to run. It’s probably the oldest car in the car park and definitely the smallest but I don’t care. Much better to spend money doing things than accumulating stuff.

Gently, decisions like this are the kind that determine whether you have a future of debt or security.

I can now see why so many people are in debt.

Paying £700 a month for a 2 year old nissan should be illegal.

I’ve recently lent my husband £16,000 to buy a car, obviously paid for it outright so no interest charges.
i don’t drive but he said it’s a lovely car to drive ( the same as what you’re looking at getting)
Save up and buy outright, you’ll save money without interest charges

It'll be too big to park. As well as being too expensive.

M6 insurance is less than £150 for the year, £200 a month is insane

No wonder you have shit credit.

I'm on a very similar income to you. No mortgage. There is no way I'd sign up to something that expensive. And it's JUST a car!

I'm a 'get me from A-B person' with cars. BUT I know some people enjoy them a lot more than I do. However, that's a huge repayment. It'll only take one major thing to go wrong in your life and that payment will be unmanageable.

It is a really bad decision.

That’s an extraordinary amount of money to tie up on a used Qashqai. I mean, it would still be an extraordinary amount for a Range Rover too. Remember, you can only spend that money once. What else could you be doing with that money to secure your future?

I wouldn’t pay that for a qashqai or however you spell it

to put it into perspective we have an Audi SQ7 for alot less than that.

I would work on improving your credit first

We can’t always have what we want is the reality. It’s a huge amount to have tied up every month for 5 years, and incredibly expensive for what it is. Does your micra have a trade in value and is that reflected in the £17k cost of the car? It’s a lot of money for something you want, rather than need, and very expensive finance for what it is.

When I’m faced with decisions like this I try to be my own future friend - your future self will thank you when you use the money to pay off debt and start a car buying fund. You’ll have flexibility over your money and not have a £700 mill stone around your neck for 5 years.

Comparison is the thief of joy…

… and decimator of disposable income

honestly, you know this is a WANT not a need. Put it off for a year, build your credit back and see what it works out at. Put the difference that you would be paying for the car into paying off debt etc. if you can repair your credit, the car will cost you less for 5 years! That’ll make a huge dent to your finances vs a better deal in a year’s time.

your current car isn’t old.

£2400 a year in car insurance-that’s insane! Have you got lots of points/crashes/only just passed your test?

Save save save, leave it a few years and buy a five year old car outright. I have never ever owned a car on finance. I've also never owned a new car or a nearly new car.

You could lease one for around 200a month

What might help you rationalise this is to look at how much you will have paid for your 24 Nissan (ie not £18000 when the interest is 29%) versus a) current market value and b) what it will be worth at the end of the contract.
My husband bought his Nissan on PCP and when it came time to make the balloon payment you realise it isn’t really worth what you’ve paid…
It doesn’t matter what other people are driving. Rebuild your credit. You’ll feel so much better about that.

Your car's only 6 years old! Drive it a few more years, sort your credit out, and get a nicer car when the kids are older and less likely to trash it.

I cant get past the 29 percent.....

I pay £280 a month for a brand new BYD suv. Insurance £500 for the year.

I wouldn’t touch a used qashqai for the sort of money you are talking about!

Well, there is always some mug that will pay it

Crazy money unless you are uber wealthy, and who pays £200 a month for insurance, I pay that a year! Keep the cheaper car, save the money and buy a second hand suv outright when your current car is paid off!

SUVs are terrible for the environment. If you need a car then a Micra is much more sensible. Or take public transport or cycle.

I took out a PCP arrangement last summer and my interest rate is 2.9%

OP, the old saying: if in doubt, DON’T

Check the car tax. Mine was advertised as being low but fell in the luxury car tax. Which most newer cars will and im paying 600 a year until 2028 when it will be the low figure advertised.

An SUV in central London 😂