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

[drowningindebt]

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

my mechanic recommended to me a 3 door micra L reg onwards, indistructable apparantly, go forever and the 1.0 litre has cheap insurance.

have you tried liftshare www.liftshare.com/uk/ or advertising in local newsagents for someone else who works in the same town?

Fio - you are right, I was upset and paniking. I feel better now having made the decision not to fight it.

I just feel like I'm sinking. No, I don't need such a nice car (was actually £10000 new) but it's nice and it's mine (only sadly, it's not mine at all) and now I'm not at work this afternoon and that's likely to go badly and then that's another nail in my coffin - no car, no job.... Just feels a bit desperate.

But I feel better than I did this morning.

It may be unsuitable for your situation but could you cycle part of the way - maybe to a place with better transport links to where you work? Desperate times and all that...

I also think the prices of second hand cars have slumped recently due to the new taxes they are going to put on (unless they changed their minds) so you might be able to pick something up pretty cheap. Also with the crunch I bet a lot of dealers are giving good deals...

Seriously ring the mini cab firms you can get some very good deals for daily trips like this. It's worth a shot yes?

Drowning, you can pick up some right bargains atm in used cars. Just one of your monthly payments would get you a vw polo or a fiesta.

WRT to your job and being sacked - join a union and seek advice.

Good luck.

I know you are all right, but am feeling desperate again.

I feel like such a failure. When the chips are down, I don't want another car... I want THIS car. I don't want to have to go back to the job centre and fight for benefits, I want my job. I want to be able to pay for myself and my kids. I am so sad now.

I felt better earlier, I think I'd talked myself into the idea that the loan company would change their mind - not want the car back, be happy for me to pay what I've been paying, anything - but no, they just called and they ar coming to pick the car up. And I have to pay for any damage. What a bloody futile mess.

I feel so stuck in this cycle. There is no one I can ask for money, no one who I can ask to help.

Even DP doesn't know about this and he's not going to be happy, as he has no clue I don't have the money to cover the car.

Just feeling so bloody useless and worthless.

No, it's my car and I'm supposed to sort it.

EVEN if it loses you both your car, the money you have paid for the car so far, AND your job in the process?

Is it really worth having that much pride?

What is your dp going to say when he realizes you have chosen to lose a lot of money and lost your job, because you wont tell him your money problem?

I am sorry, but there is a difference between being hard up and stuck up.

This is a very very expensive car and it is a silly thing to want

What's going on there?

Is the car symbolic of a BIGGER PICTURE?

I'm not sure why you think you are going to lose your job, as long as you can get into work? You could go out and buy a car with one month's payment THIS WEEK.

Agree with mp, it does sound like part of a bigger picture. Car finance agreements that involve either handing it back or paying a balloon payment are common aren't they? You pay x amount a month for a car, and then decide whether to find or borrow the money for the balloon payment, or hand it back and start again.

So you have to hand yours back. Fine. They were high monthly payments so you can get a cheap car for one or two monthly payments quickly, and then your monthly income will go up a bit as well.

You also sound a little bit defeatist about your job. Have you asked whether you can take the day in question as holiday? If you are doing well at your job and have otherwise been reliable, they are unlikely to just sack you for this, as long as you make an effort to sort things.

It does sound as though maybe there's more going on making you so unhappy about it.

think of it as having rented a car for a year. Now you can't afford it any more so you give it back and then go out and buy a cheap car with one month's payment.

And from next month you'll be £350 better off each month so actually it works all round.

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I think more of an issue is the fact that you (and DP) seem to regard this as YOUR problem. If you're a partnership, surely it's both your problem? Particularly if the upshot of it all is that you might lose your job, with all the financial implications of that, or even if not, the additional headache and hassle you will face getting about. Are they his kids too, or yours from a previous relationship? If they're his, then surely this should be regarded as a family car, for getting all of you around?
Sorry if I'm making assumptions here, but it sounds an odd set-up, particularly if you're living together.

we've got a car on what i think is a similar deal (lend lease or whatever it's called - you pay an amount every month and then at the end of the agreed term you either buy it off them for a lump sum or they take it back and you start a new deal).
dh did it because it's a way of having a more expensive car than he could otherwise afford and its convenient as you dont have to maintain it when it gets old or take the hit on depreciation that you do if you buy a new car.
BUT and this is the killer thing you have to never see it as YOUR car (it was always done on the assumption that at the end of the term, we hand it back and lendlease another one). of course you miss your old nice car, but it's too expensive for your current means, and you have to think of it as wannabe says as having rented a car for a year rather than owned it. you're thinking of it i guess as the money you spent on it having been money down the drain as you wont own the car in the end which is making you miserable. its not money down the drain, it served you for a year and it's been a valuable lesson learnt i guess.
you dont say what you were paying every month but that amount should now be free for you to spend on either a cheap car, more childcare, joining a car club, lift shares with a neighbour, whatever. also agree with those who said talk it over with your dp - is he earning? do you live together? are your finances totally separate? can't he help?
if you havent already done it also go through your bank statements with a fine toothcomb, work out a proper budget for all your outgoings (between you and dp if you live together), work out what you can cut back on (switch gas and electric providers, cancel any old unnecessary direct debits, menu plan before your food shop, the million other tips on here on saving money) and put your finances on a proper footing so you know how much you have to spend and you don't run up debts again. good luck - you are far from the only person struggling with your finances in altered circumstances and im sorry some people were harsh with you on here.

What kind of employer sacks you for taking one day off in an emergency? Only a dodgy one. You may even have some legal redress against them if they do sack you.

Have skipped through the thread, sorry you are in a pickle.

My suggestion would be, let them take the car back, you are already struggling so you could do without car repayments or loan repayments, cause who ever you get the cash off will want the cash back. You could get a cheaper car, a shabang for a few hundred to tide you over or a finance deal on a 2k car, cost you £20ish a week. Either way dump the car, you will be better off, they are not worth a lot at the mo anyway, see your past payments as rental rather than finance.

Take control, snd dont panic when it comes to cash, its the fastest way to make a mistake, think logically and cleverly, dont panic, No 1 priority is your roof, not a car. Good luck

Does the company taking the car back clear your debt or is there still a balance to be paid? Exactly what kind of agreement did you sign?
I understand the relevance of your car, you worked for it, you earned it and now losing means more than just losing a car.

But that's not really true. The economic climate is about survival, so if you need to downsize on stuff that is not about a failure on your part, it is just circumstances. The rest of the country is doing it too.
If you speak to your employer will they give you a car allowance or is there a pool car you can use? It really isn't just your problem. You need to speak to DH and your employers as they might just have a solution.

all the best

Have you got any PPI claims you could make?

I'm afraid that this is a zombie thread which has been deliberately resurrected, Mrscog.