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Original poster

Need £5000 now.... what are my options?

113 replies

drowningindebt · 04/12/2008 08:51

I need £5000 to keep going.

Need it today, or within the next week at very best.

Bank won't give me a loan cos I am not earning at the moment.

Can't sell anything I can think of worth that much money.

Anyone got any reasonable suggestions.

Feels like I'm staring into an abyss

OP posts:

rubyslippersisappearinginpanto · 04/12/2008 10:03

so sorry drowning

Can i suggest that you still get to the CAB so at least they can check you are getting all the benefits you are entitled to IF you do lose your job?

have a very un MN (((hug))

needmorecoffee · 04/12/2008 10:09

so sorry drowning. I would still contact CAB about employment laws and check your job can jusy sack you. Although they haven't said that yet.
But check what benefits and get the forms. The after Christmas start looking for another job.
What town are you in? Maybe there's a mumsnetter who is going your way or is selling a cheap car or something. You never know!
Would you like me to check the bus/train routes for you? Cos we lived for years car-free its something I'm used to doing.
Ruby - get thee to n**s

Original poster

drowningindebt · 04/12/2008 10:12

what's the point. I'm not going to get any more benefits. at least there is a decision, a resolution. In a sort of weird way, it's a relief and, though I'm sure it sounds terrible, I'm glad my job has made the decision for me.

I think I can cope with the other outgoings.

Just going to go and have a little cry and then spend some money on a bottle of wine and try to look at the positives.

THanks to everyone who said nice things. It was always a losing battle, I knew that.

OP posts:

needmorecoffee · 04/12/2008 10:15

drowning - surely you will get more CTC, income support and housing benefit if you don't have a job? Plus council tax benefit.

Get some chocs to go with that wine.

Original poster

drowningindebt · 04/12/2008 10:27

I won't, because I'm not great at asking for things and, as soon as I say I'm not working - actually it's going to sound worse, isn't it, cos I actively lost it, they are going to say I'm not entitled to more.

My big worry now is my benefits recently went down (cos I was working) and I don't even think they'll go back up given it's my problem having lost the job.

Seems stupid, doesn't it, to treat myself today, but just feel I need to do something and what difference is a fiver going to make anyway.

OP posts:

ilovemydog · 04/12/2008 10:33

Have you spoken to the car company?

I think you will find that in the current economical climate, they may be willing to do a deal.

Would your work be able to advance on your salary and deduct monthly? or is it due to the probationary period that in issue?

Is there a nice H/R person you could speak to?

wannaBe · 04/12/2008 10:39

drowning I wasn't sniping saying you could manage without a car. Apologies if that is how it came across (my first post was harsh I admit but that was before I realized that circs etc had changed so apologies for that as well ).

For the record I don't have a car or even a driving licence. And my dh works in London and commutes 2 hours there and 2 hours back every day by public transport, so while of course having a car is far more convenient and does make life easier living without one can be done.

Paying out all that money and then essentially having nothing to show for it is shit I agree. If you've already agreed to give back the car then I would:

Look closely at the public transport for your area to the next town where you live. I really find it hard to see how it could take two hours by train but that does of course depend on how the towns are connected by the train lines etc. Can I ask where you live/where you are looking to travel to? i agree with nmc that often people who don't use public transport don't always know of the easiest ways to get places using public transport, in the same way as people who don't drive wouldn't know the easiest way to get somewhere by car.

Re the costs - you can reduce costs of travelling by purchasing season tickets etc for busses/trains - again worth looking into this.

If the public transport is absolutely not an option get a hold of a copy of your local auto trader and see if you can get a cheap car. I bet you could get one for a couple of hundred quid as there are lots of people out there who are desparate for the money and who will be selling their cars cheaply.

lastly if you do lose your job I would approach all the local shops etc and see if any have any vacancies for Christmas staff. I know a lot of shops have taken on their staff, but I also know that lots of people just don't hack it and generally shops are always taking on at this time of year. It will be a temporary solution but in the new year you can start looking again for something more permanent.

This doesn't have to be the end of the world, it's really crap but things can work out - just maybe not quite how you'd planned.

good luck.

needmorecoffee · 04/12/2008 10:43

Drwoning, please do not not apply for benefits. You are entitled and you will need them. the CAB will ehlp.

wannaBe · 04/12/2008 10:49

if you lose your job rather than leaving your job you wil be in a better position to qualify for benefits.

ilovemydog · 04/12/2008 10:54

Well, if they do sack you, then you wouldn't want to work for them anyway!

But if you don't ask, then you don't get!

Ask the car company to hold off for a week or so. Ask your company for an advance.

You don't have anything to lose....

Or just chalk it up as experience

morningpaper · 04/12/2008 10:58

Drowning: You need to know:

What was the value of the total loan taken out?
What was the car worth then? What is it worth now?
How much were the monthly payments? If you can keep up with these - you could probably buy a shite car for the price of one month's payment!

Lemontart · 04/12/2008 10:58

If you lose your job because you are physically unable to get to work, it is NOT your fault. I think you should speak to someone in your local benefit office and try to sort this out.
I understand about pride and not liking asking for help. I really do get that. BUT, you are entitled to this, it is not just for you but for your children too and so worth making sure that you are supported as much as you can xx
You did not cause the credit crunch or change the market to the point that your car company cannot extend your warranty. You did not create such a lousy public transport system and health care system that means you cannot use it to get to work. Sure, you took out a car deal in good faith, but it is not all your fault. Try not to be too hard on yourself and allow the state to support you properly until you can get back on your feet xxx

LilySwalLoosHerTurkeyBaster · 04/12/2008 11:01

How can it hel[p the car company to have a second hand car back rather than the payments you were going to make. Surely it will be worth less than what you had left to pay on it ?
Sorry about your job maybe they will be understanding about it. (hopefully)

hatwoman · 04/12/2008 11:18

drowning - what's your plan now? I would suggest that regardless of whether you want it in the long-term you need to think about ways of ensuring you keep your current job - getting sacked will make finding a new one a nightmare. I would make some plans to ensure you can get to work next time you're due in, and I would phone them up to reassure them that you've done this.

It might be stating the obvious but is there anyone that you can get a lift from? if you offer to share costs I'm sure most people would be positively pleased right now. might also be worth doing some googling to see if there are any local lift clubs. I'm not sure whether these are usually based on systems where everyone has a car (which would seem a bit daft) but worth trying. and if all else fails there's public transport. in the short term you might just have to suffer it, if you want to keep the job. would combining public transport with a bike cut journey time? ie only use the train and avoid the annoying bus journeys at either end.

But then I think you need to decide whether you want the job in the long-term. The journey probably isn't going to get easier. If you get another car you'll have the costs associated with it. Is there anything more local you could look for? I am guessing that you might have looked closer to home in the first place and didn;t find anything suitable...but perhaps you just need to keep looking and see current job as a stop-gap?

It's shit when shit happens, but there are things you can do to stop it getting worse. good luck.

chocolateteapot · 04/12/2008 11:20

Oh dear, sorry to hear about this. I think it sounds as if you are going to have to give the car back.

I know it sounds a bit ridiculous, but do you have any friends who could maybe lend you one to tide you over ? We've taken one of our cars off the road for now and I would lend it to a friend in a similar situation.

Alternatively I agree with what people are saying about buying an old banger. I've got a 10 year old corolla toyota with a few scrapes and a passenger window that doesn't work. But it is incredibly reliable and just goes through MOTs, plus doesn't break down. I can't fit my Mum and all of us in so at some point am going to buy a bigger car. I'm not factoring in my car in the equation and shall stick it in the paper for £200 or £300 with a new MOT and a new service.

If I'm going to do it there will be others who are and you should be able to get something very reliable for not a lot..

QuintessentialShadow · 04/12/2008 11:20

Dont forget to cancel the insurance of this car. The insurance company should Reimburse you for "unused insurance".

We have bought and sold cars from both ebay and autotrader.

You can get a cheap old car.

It is a pisser of a situation, you have my full sympathy.

QuintessentialShadow · 04/12/2008 11:23

Also, (I know this after a lenghty discussion with a car mechanic yesterday) older cars are built with quality parts, they are easier to maintain than newer cars, and cheaper too, as the service and mechanics costs are lower, due to easy access to everything under the bonnet. You wont have to disaasemble half the car to change a light bulb. I know this, as I had to disassemble the battery on my car, take it out, CUT OPEN the box the battery was sitting in, just to get to the light bulb on my 4 year old Fiat. So, dont worry about getting an old car, it could last you years and years!

bozza · 04/12/2008 11:25

Wannabe "For the record I don't have a car or even a driving licence. And my dh works in London and commutes 2 hours there and 2 hours back every day by public transport, so while of course having a car is far more convenient and does make life easier living without one can be done. "

But could your DH do that if you were't there as a SAHM? I don't think so. Drowning has already said that she can't afford to pay the extra childcare for the extra commuting time so it is not the same as your DH commuting to a well paid job in London with no responsibility at all for childcare.

morningpaper · 04/12/2008 11:55

Drowning - if you have paid 5k, and have 5k less to pay, then you must have been paying about £400 a month in repayments? (at 0%!)

So you must have some cash you could use for more childcare/buying an old banger if you no longer have these payments to make?

Don't see it as wasted money - cars depreciate so fast that even if you owned the car, you probably wouldn't be any worse off for paying out all that cash.

AnneOfAvonlea · 04/12/2008 12:03

How much are you paying in monthly payments for the car?

Can you give the car back and use your first monthly payment amount to be a really cheap car to keep you going? The money you would save monthly on repayments could be set aside to get a better car in 6 months.

ClaireDeLoon · 04/12/2008 12:05

Are they taking the car back now? Right now? How long do you have left before they take the car to give you time to plan around things?

TigerFeet · 04/12/2008 12:20

Drowning I haven't got anything useful to add but wanted to back you up on the needing a car thing.

I live rurally, shite bus service, no trains. I need a car. End of. It would take me over two hours to do my 15 mile journey to work on the bus, meaning that my daughter would need to be in childcare from 7am until 7.30 pm - obviously not acceptable.

Jobs that fit in with school/childcare are difficult to find, especially in these finacially difficult times. No-one is taking on. We are all doing well to keep the jobs we have, never mind finding one closer to home.

I really hope you get it sorted out.

Beachcomber · 04/12/2008 12:47

If you do get a cheap older car I can highly recommend old Golfs.

We have a 1982 model that we bought 8 years ago for 500 quid. It is very reliable, very economical and never costs much to repair as the mechanics are simple and spares easy to get at the scrappies. My FIL had one too that seemed to be indestructible and had a huge mileage (until SIL crashed it).

Only downside is the steering is very heavy but we wouldn't change this car even if we could afford to.

Original poster

drowningindebt · 04/12/2008 14:16

£350 per month is what I'll save

Thanks for the heads up on the insurance. Hadn't thought of that.

OP posts:

SleighGirl · 04/12/2008 14:26

Ring around the taxi/mini cab firms, find out how much it will cost as a weekly contract to go by taxi, it may be less than you were paying for the car & insurance together.

Ask around everyone & anyone to see if they do the same journey & see if you can get a lift until you sort a cheap runabout car out?

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