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

😭

Buying the car itself may well be fine...but this is on finance.. which unless you can avoid it, 25% interest is exactly the definition of wasting money.. most people can not avoid mortgage interest.. generally less than 7%.. any other interest is indeed a waste of money. In addition, this poster hints that she has other debts so not only is she paying interest on the car finance, she is also using money she could otherwise use to pay off and therefore reduce other interest bearing debt.. so not the car... but the finance..

Qashqai boots are tiny, it's a waste of money. Also your micra probably allows you to squeeze into tiny spaces which is very useful in London.

You've left the extra cost of fuel and servicing out of your calculations.

There are always loads of SUVs around the school gates where I live. Almost invariably their owners seem to have trouble with manoeuvring and parking them so end up looking fairly stupid. Meanwhile, I nip in and out in my Yaris and feel I am missing precisely nothing.

My kids were at school in zone 2. I hated the huge cars blocking the narrow roads. I would have liked you for your micra.

Agree. It was always the blingy tacky types that had these cars.

Not everyone has an SUV, grow up OP! ☺️

You might as well rent a studio apartment somewhere by the sea and have a holiday home for that extra cost!

Omg cancel it now

You can’t afford it
Even if you could afford it, it’s a terrible deal
It will stop you doing other, nice, fun things like eating and being warm.

Wtf with your insurance?? My 22yo has just bought insurance with no no claims discount for £620 for the year. Postcode matters but not that much and he parks in the street.

29% is crippling.

£700/month for 5 years is £42000. Would you pay £42000 for a 7 year old Nissan if you had £42000 in the bank?

maybe redirect your keeping up with the jones energy into rigorous money management. Why not “everyone else is getting interest on their isas and I’m sitting here with nothing” instead of envying their cars. Feel smug about driving a 10yo basic car that you own outright while sitting on a chunky savings account rather than feeling smug about having unmanageable car payments.

If you save £350 a month in a 4.5% account you will have £23500 after 5 years including £2500 interest that you have done no labour to earn.

Would you rather have £23500 or a bigger car?

Do you own your home? If so the mortgage rate will probably go up at some point.
Do you rent? If so. You could save hundreds each month for a deposit to buy.
Why do you desire such a big vehicle? Very few people actually need an SUV.
Do you have any savings? I suspect not as you mention debt. Saving should be a priority over a fancy car.

You need to concentrate on improving your credit rating then you’ll be able to get loans at a much lower interest rate. 29% is outrageous (been there). I can get less than 10% now. Buying this car won’t improve your credit rating but NOT buying it might 😃

Excellent comment, spot on.

You have debt and you’re considering paying 720 a month for a car.

I think we know why your credit rating is shit.

£620 is more than my mortgage maybe too, it’s an obscene amount of money to spend on a car, and more than all 4 of our household cars cost to run for a month! (4 adults)

I LOVE being the only one in a shitty car at the school run.

DH has a new SUV from a make considered much 'better' than a Nissan and it's only marginally more than £720 pcm. That isn't a good price.

If you do this, you will spend:

£8640 a year

£43200 over 5 years

On a car you can't afford, with a bad credit rating, because you have seen other people with big cars.

It's absolutely moronic

Absofuckinglutely not.

Save the extra £300 a month, drive the Micra for another 3 years, give your credit rating a chance to improve then buy an older SUV in cash with the 10 grand you've saved if that's what you want. I genuinely can't believe the amount of debt people get themselves into over cars.

I'll take a shitty car that's fully paid off over yet another massive monthly payment obligation any day of the week.

You've done yourself and the planet a favour by not buying a gas guzzling, polluting car which also damages road surfaces because of it's weight

You can "feel better" by knowing you’re not childish enough to think you must have something that you don't really need and which you can’t afford, just because you envy other people who do have one.

You live in inner London?
Do you actually really need a car at all? Do you drive every single day and cannot possibly avoid it?

Sell the existing car, get a lime bike subscription and use the 350 quid a month saved to pay down your debts quickly.

Because you don't need a monster truck, especially in London. Don't be so daft.

If you can and I hope you can please cancel this silly contract.

Do not live your life looking at what other people have and trying to keep up. May I point out they may well be driving around in their SUV’s wishing they weren’t because they too cannot afford them.

Forget about trying to impress other people. It is no way to live.

Buying a car on finance is madness - i spent 4000 on my 2nd hand for galaxy and it gets me exactly the same places you do. My insurance is 200 a year. In 4 months you would have paid off the car and insurance.

Go electric. The savings make up for it.

Too much money for a shit car tbh. A Micra is a boring but functional car. A Qashqai is more of the same.

Sounds like a fool and her money tbh. You are paying way too much for the car you already have. You have poor credit too.

Lets put it this way, if you were my family i would advise you to keep your current car because a) you owe way too much on a shit car already. b) they will stiff you even more for an even shitter car. c) you havent shown you can afford it.

If you really do want to show you can afford it. Make your current payments on your current car and SAVE the balance you would be paying for this new car into savings account. By the time you have paid your current car off you will be much better positioned.

I cannot believe anyone is looking at paying £5-600 per month for a Nissan Qashqai.