Massive bill, what to do?

[IndolentCat]

I bought a van 3 years ago and although it was good on paper, it’s cost me a lot since (as well as being more than I wanted to spend at the time). I was buying in a hurry so choice was limited. It’s a transit custom.

anyway it’s now due a replacement cam belt- I’ve been advised that Ford’s newer system can leave the belts failing without warning, catastrophically, and mine is over the recommended mileage for replacement. It’s probably a £1600-£2000 job and my mechanic won’t do it because the bolts apparently can burst after being replaced(!) (again with catastrophic results) and so he has recommended I go to Ford so as to get their warranty on the work.

I have booked it in but it’s such a lot of money and I can’t get a loan or a credit card. I have the money but it’s earmarked for something else, albeit a nice to have. I really don’t want to spend it on this!!

I’m reluctant to change the van (hassle, expense, sunk costs) but would it be better? Or is it better to stick with this one, whose history I know and have done a fair few maintenance jobs on? Changing will probably cost me anyway, won’t it?

I think you have to use the money you have to do the work and postpone the nice to have until you can save up for it unfortunately.

If you've done a lot of work on this van such that nothing else 'big' should go wrong in the next year or two then I agree that you should keep it because you're unlikely to get a good price if it needs a belt change and in my experience second hand vehicles often need work doing after you've just bought them so it will probably cost you more than £2k to change it, plus unless you're able to do without transport for a while you don't have the money to buy a new one without selling the old one first.

You say you're unable to borrow money but can you earn more and/or reduce some of your outgoings to free up money to pay for the other thing you want?

This is the conclusion I’ve come to while I’ve been asleep.

I have started a business alongside my part time (decently paid) job, but my employer has cut my hours, and the business, for which I’ve just completed a 3-year course of study, feels like it could start to grow in the next year if I persist with it. I’m signed up for temp work but it’s tricky because I’m limited by my other commitments.

it’s going to be one of those ‘suck it up’ moments, isn’t it?

It’s a known issue with Ford Transit Customs (if you’re a petrol head) so at least take comfort that your mechanic is giving you good advice.

It may give you extra impetus to get your business going?

What kind of van is it ?
Make, model, age ?

How much is the van worth? How much would it cost to replace the van?

Is this a van that you use daily or is it a second vehicle that you own ?

If it is a known issue and that catastrophic, then surely they should recall vehicles of that make and model to rectify the problem.

It’s a 2018 plate, and the insurance company is valuing it at 5K as of august- I guess that’s about right. I toyed with selling it earlier this year and I think that’s probably what i’d’ve got for it. I suspect now that I’ve had the other bits and pieces done on it, it’s better to keep than trade for another unknown quantity, because I could only afford a couple of grand anyway.

It’s my main vehicle and I use it for the business, although I commute to my employed work in OH’s car to keep the miles and wear down on the van.

Try and find a local garage that will do the work.
If you can find someone to do it, make sure they use genuine parts as there are issues with the timing belt covers leaking if they don’t use genuine parts.
Its not cheap but it’s worth doing (along with regular oil changes every 10k miles) to keep the van going.

I work for a small garage that does several wet belts a month on various Fords, such as Transits, Fiestas, Focus and Rangers so if you have any other questions feel free to message

I feel your pain, my 2016 Ford Fiesta needs one, I have been quoted about £2k. I thought about trading it in but I would probably lose as much doing that and I like the car so it will be done

Thank you, I have a brilliant place I have used for ten years but as mentioned above he won’t do this job because of the exploding bolts. He suggested going to Ford for their warranty (so if the bolts explode later they’ll cover my new engine!). Yes always do the services and maintenance. Never wash the outside but the engine is well looked after!

Do you know which bolts he means?

if it’s the idler gear bolt, we replace as a matter of course during the wet belt change. Some garages will, some won’t as it’s not touched during the change but there’s evidence of them going after.

In the area we are in, we get referrals from other garages we will do them and many won’t. There are transit specific Facebook pages that you could ask for recommendations

Mines broke once and it was hell. I really feel for you but sounds like you are working hard and doing well. Get it done it's your lifeline and don't undo all the fabulous stuff that you are achieving. Anyone small business do it cheaper? Good luck with everything. You deserve it

This happened to my husbands van, the belt snapped at half the recommended mileage and required a full new engine. It turns out the belt had been recalled, so Ford eventually paid for the engine. Worth checking if the recall applies to your van.

I would check for a recall, there isn't on mine (Fiesta car) but vans might be different, just in case. there is some sort of recall in America it seems. I have read though that if it goes before the recommend mileage and 10 years Ford might cough up, though has yours done the miles, I'm not sure how much it is. Mine is a very low mileage car, FSH from Ford garage, I have the service for older cars that Ford do but is coming up for 10 years old so needs doing as they still deteriorate even if miles are very low.

Do you know how to check for a recall? I’m assuming there won’t be one, because the woman I booked the appointment with said my brake fluid needed changing, so presumably she’s got access to some previous record from before I owned it? Also it’s done 121000 miles so beyond the predicted lifespan- I think I’ve done amazingly well which makes driving it now I’ve found out about the issue feel like driving a ticking bomb!

I think you need to use the money you have saved to pay the bill. Borrowing is not the answer even if you were able to get a loan/credit card and presumably if you sell it you won’t get very much if it needs work so you then need to buy another van which will cost. Unfortunate but this is why we should be saving for outgoings on vehicles or replacements as they depreciate quickly.

Type the registration number into the DVLA MOT history checker. If there's an outstanding recall, its shown there.

Cheers, yeah there’s no recall on it. Definitely a suck it up moment. Well it’s booked in now, though not for a month. Thanks all!