Hi Guys,

Bit of a moral dilema ! I am buying a flat and am worried about the running costs on the Scoob and a flat ! I am a first time buyer, so I have no real experience of how much the living out thing will be. I earn good money but the Scoob costs £1400 to insure......
Any advice/opinions from people who have been in similar position
is most welcome !
Andyp

 

Anyone ??!!
Andyp

 

Hi Andy

When I first bought my house I was running a 205 GTi, but I had to do the right thing and sell it, as i couldn't afford the car and the house. May be wise to sell the Scoob - you can always buy another later on.

DW

 

PS General Costs to consider when living on your own:

Food, Gas/Elec etc, Maintenance, DIY, Council Tax, Life Insurance, Mortgage, Holidays, Magazines, Clothes, TV License, House insurance, Car insurance

May be worth entering all these into a spreadsheet - it is amazing when you write everything down, i.e. £8 a month magazines, £10 a month lottery, £24 month internet etc etc etc, not forgetting car running costs - this is how I did it when we bought our house.

DW

 

Andy,

Just sit down and look at your projected incomings and outgoings ( all of them , including bills /food / beer / petrol ). If the total outgoings are more than 75% ( ideally 66% ) of you incomings then you can't afford it. Also redo the sums with the premise that your mortgage rate will rise by 1 or 2 % for a 'just in case'.

( the extra 25 or 33% is to account for saving / investment / unexpected stuff )

You have to be rational about it I am afraid.

At the end of the day, you can run an old knacker for a year and buy another scoob when money isn't so tight

I understand your concerns - I'm in the middle of a house purchase myself at the moment and have had to do exactly this.

Cheers and good luck

Steve M

 

Andy - I wouldn't rush into anything...we recently brought our first house and then our dream car arrived a month and a half later - so we had to buy it!

Just work out what all your bills will be, i.e. Council Tax, electric, water, gas, T.V license, home insurance ...if your not sure what these will be the suppliers can give you an estimate based on house size/number of occupants. Make a big list and see if you can afford it...that's what we did and so far it's all gone to plan...it's only the fabulous group buys that have a cuased a stretch of budget Work it all out carefully and hopefully it'll be ok...

Jen

 

everyone got there first! Sorry!

 

Cheers Jen, Steve and DW, I will look at the numbers......
Selling the Scoob will hurt though....
Andyp

 

Don't panic.
I've made so many bad decisions, because of the way I perceived the situation at the time. Be patient and wait a little while to see how things pan out. If it comes to selling the Scooby, don't worry about it you can keep hold of your money get a cheapy run around and buy another one next year.
Cheers.
Ian.

 

Andy - it doesnt take long to get the car back though. I bought my house in 98 and dogged around in a H Reg Rover 216 for 2 years then bought my MR2 (Could have had a Scoob, but fuel was an issue then).

I am now close to being in a position to buy a Scoob, and fuel is not an issue anymore - time goes quickly and it seems like 2 minutes since we moved in to the house.

DW