nowhereboy Posted September 30, 2013 Share Posted September 30, 2013 Man, I really don't want to do this but I'm struggling a bit at the minute. I'm questioning whether my love for the car is worth the stress of constantly being skint, I have pretty bad zeditus and seem to be constantly lusting after mod's and it's getting a bit obsessive to be honest. I worked 30 hours overtime last month and worked bloody hard to make a good bonus so I could spend the extra cash on a new exhaust system and a wheel refurb. Payday comes along and I didn't get anywhere near what I expected, the tax is due this month along with a few other bills and my hard earned cash has quickly vanished on basically nothing I lent the cash for the car from my mam, I pay her £500 a month, In 6 months time my debt to her will be cleared but in the mean time I'm struggling a bit financially. I'm not proper skint but I'm certainly not flush either. On my basic wage I'm left with about £400 to myself after bills etc and thats not including petrol or food, If I hit my target and get bonus I'm left with a lot more but Im constantly stressed out at work because I know I need my bonus to be comfortable. This months just the icing on the cake, I'm gutted I can't get the mods I've worked for. Part of me thinks just stick it out for another 6 months or get rid now, pay my mam back and buy something with the 3 grand or so I'd be left with and own it outright. I could get a tidy EP3 type r for that money and I'd be much more comfortable financially. Opinions please folks? Quote Link to comment Share on other sites More sharing options...
gsexr Posted September 30, 2013 Share Posted September 30, 2013 Why not ask your mum if you can lower the payments to a more manageable amount like £350. Then enjoy the car and stop modding it until you can afford it. You need to control the zeditis mate as thats yer real problem. 1 Quote Link to comment Share on other sites More sharing options...
rtbiscuit Posted September 30, 2013 Share Posted September 30, 2013 Wait it out and stop modding 5 Quote Link to comment Share on other sites More sharing options...
nowhereboy Posted September 30, 2013 Author Share Posted September 30, 2013 Seems like the straight forward way to deal with it I guess! I'm really bad for spending all my money on cars, I did the same with my old EP3, it was supercharged in the end and I still wasn't happy, I spent/lost thousands on that car. I don't want to ask my mam to lower the payments to be honest, thats not really an option. I was considering getting a small loan for the remaining balance and putting it over a year or so to make the payments more manageable but of course then Im going to pay through the nose in interest so it's probably not worth doing. Quote Link to comment Share on other sites More sharing options...
Jp606 Posted September 30, 2013 Share Posted September 30, 2013 (edited) Take out a low interest loan, pay of your Mum and spread the payment over a longer period and you won't have to pay anywhere near £500 a month. Or an interest free credit card and transfer the cash for a small fee, if you've got a good credit rating you can get a very good deal. People seem to be afraid of borrowing some times but it can really help you out and make things more manageable. Edited September 30, 2013 by Jp606 1 Quote Link to comment Share on other sites More sharing options...
nowhereboy Posted September 30, 2013 Author Share Posted September 30, 2013 I have a non existent credit rating which means I struggle for decent loans, thats why I lent the cash off my mam in the first place tbh. I recently got a credit card which I use each month then pay straight off to try and increase my credit score but it only has a 150 limit haha! Quote Link to comment Share on other sites More sharing options...
Jp606 Posted September 30, 2013 Share Posted September 30, 2013 Everybody has to start somewhere, using a credit card will help your rating improve Quote Link to comment Share on other sites More sharing options...
Sarnie Posted September 30, 2013 Share Posted September 30, 2013 Why are you modding a car you can't afford to keep!?!?!!? I'd be furious if I lent my son money for a car and he was blowing all his money on crap for the car before he'd paid me back. Especially if he was bleating about not being able to afford it and going to sell it!! All your money should be going into paying the car off asap. Mods are a complete luxury, an excess, an indulgence. They are NOT a neccessity like petrol and bloody food!! I can't actually believe what I'm reading........ 2 Quote Link to comment Share on other sites More sharing options...
nowhereboy Posted September 30, 2013 Author Share Posted September 30, 2013 Why are you modding a car you can't afford to keep!?!?!!? I'd be furious if I lent my son money for a car and he was blowing all his money on crap for the car before he'd paid me back. Especially if he was bleating about not being able to afford it and going to sell it!! All your money should be going into paying the car off asap. Mods are a complete luxury, an excess, an indulgence. They are NOT a neccessity like petrol and bloody food!! I can't actually believe what I'm reading........ Dad is that you?? haha First of all I've never missed a payment to my mam, the rest of my money is mine to do what I like with. Your post would be reasonable if I wasn't paying her back and then spending the cash on mod's but thats not the case at all. Secondly I wouldn't say I "can't afford to keep" the car, it's not that bad! I'm just not used to having to watch what I'm spending and having to live within a tight-ish budget. Once the 6 months is up I'll be out of debt, driving a smart car and will have extra cash in my pocket. Just going to have to man up and wait it out!! I still feel a bit sick about having to pay out nearly 1,000 at the start of this month before even considering spending anything on myself and I think thats where this whole thing has stemmed from today. Welcome to the real world I guess, isn't it great? Quote Link to comment Share on other sites More sharing options...
370Ad Posted September 30, 2013 Share Posted September 30, 2013 Its very silly to mod the car but tbh if you 'really' cant help it. You can get a 2 year interest free credit card. Then once you have paid your mum back, pay that back. The clever thing to do would be not the mod it though..... 1 Quote Link to comment Share on other sites More sharing options...
nowhereboy Posted September 30, 2013 Author Share Posted September 30, 2013 Yea, I'm just going to try wait it out then In six months time I'll have plenty of spare cash to mod until my hearts content!! 1 Quote Link to comment Share on other sites More sharing options...
nowhereboy Posted September 30, 2013 Author Share Posted September 30, 2013 In the mean time I'll keep dreaming about those rota's 1 Quote Link to comment Share on other sites More sharing options...
Sarnie Posted September 30, 2013 Share Posted September 30, 2013 Dreaming of Rota's??? Oh dear. Are we supposed to be impressed that you've not missed a payment back to your mom for a car that you couldn't afford to buy yourself?? You say that its not that you can't afford it yet the first line of your first post says "Man, I really don't want to do this but I'm struggling a bit at the minute. I'm questioning whether my love for the car is worth the stress of constantly being skint". You can't afford to mod a car that you are struggling to even pay for, it's pretty simple! I'm sure your parents would be impressed if you paid them back in half the time rather than buying tat Rota's............ Quote Link to comment Share on other sites More sharing options...
Commander Posted September 30, 2013 Share Posted September 30, 2013 I pretty well agree with most of these comments... You need to get your spending under control first and foremost. Stop wasting money on mods (and I don't care who says what, all mods are a waste of money in financial terms), get your debts cleared, save up so you've got a rainy day fund, then you can start modding with your spare cash. If you've no spending restraint, I'd stay away from getting a higher limit on your Credit Card. Use the limit you have to build up your credit history and then pay it off in full every month, but nothing more. Quote Link to comment Share on other sites More sharing options...
Briggsybriggs1 Posted October 1, 2013 Share Posted October 1, 2013 I tuned u a RS turbo when I was 20 and loved it but lost loads when selling it but it is a bug u get I no . But iv had my Z for 2 years and only just started mod,s on it. so defo keep it and hang in there u will be rich as soon as it's payed off. Quote Link to comment Share on other sites More sharing options...
Dblock Posted October 1, 2013 Share Posted October 1, 2013 You get paid alot more than me lol so count yourself lucky. I agree don't mod the car. Also do you enjoy the car? This isn't the first time you wanted rid of it. If you don't like the car sell it because you don't like it don't make excuses to do it Quote Link to comment Share on other sites More sharing options...
Bems Posted October 1, 2013 Share Posted October 1, 2013 Seriously unless your confident you can manage your finances and your modding bug without rellying on bonuses or overtime then I would not suggest getting a loan or credit card you don't need. You say your constantly stressing at work about it, is the car worth this stress? If the answers yes then stop the mods until you can comfortably afford to do them. You also need to keep in mind potential unforeseen expenditure incase anything breaks when your not expecting it. V6's in general are not cheap when they go wrong! Quote Link to comment Share on other sites More sharing options...
NeilMH Posted October 1, 2013 Share Posted October 1, 2013 There is no pleasure at all at being under pressure financially. All you have to do is hold back on the modding until the loan is cleared. You will then feel 100% better about everything. I would not advise you to take out any other debt because then you are in a viscous circle. It's only a few months after all. I'm trying to be understanding here (I'm not sure why - maybe because I vaguely remember I was young once). You are unlikely to get much sympathy here otherwise....there are people who are under pressure financially for stuff that is a hell of a lot more important than sticking bits on cars. Quote Link to comment Share on other sites More sharing options...
hawker1986 Posted October 1, 2013 Share Posted October 1, 2013 TBH you should sell the car IMO, you clearly cant afford to keep running it comfortably. What happens if it throws up some sort of major bill? Dead clutch or gearbox for example. Ours needed a clutch rebuild a few months ago, the Mrs wasn't working so our income was halved at the time, these things always happen at the wrong time. Granted for us it wasn't a big deal, but would it be for you? A car isn't worth those sort of worries, you can always buy another one in the future when you can afford it properly. Just my 2c Hawker Quote Link to comment Share on other sites More sharing options...
Ekona Posted October 1, 2013 Share Posted October 1, 2013 Stop modding then. You don't have to, it's not addictive like a crack habit, it's just you want shiny pretty things which you can't afford. Stop it, it's that simple. 1 Quote Link to comment Share on other sites More sharing options...
peteman35 Posted October 1, 2013 Share Posted October 1, 2013 Why not just drive the car. Spend money on putting petrol in it and just go for good drives. Modding is addicting but so is driving. Quote Link to comment Share on other sites More sharing options...
cs2000 Posted October 1, 2013 Share Posted October 1, 2013 Seems like the straight forward way to deal with it I guess! I'm really bad for spending all my money on cars, I did the same with my old EP3, it was supercharged in the end and I still wasn't happy, I spent/lost thousands on that car. I don't want to ask my mam to lower the payments to be honest, thats not really an option. I was considering getting a small loan for the remaining balance and putting it over a year or so to make the payments more manageable but of course then Im going to pay through the nose in interest so it's probably not worth doing. This. Don't take out a loan to pay anyone back, its a black hole, don't lower your payments to your family as its very easy to fall out over cash. Stop spending on mods and just pay the car off, then mod if you like, its what im having to do. Loads of things I want, but Christmas, and saving for a house comes first, sadly all I can afford to do it service, tax, tyre switch etc, not exactly mods. Quote Link to comment Share on other sites More sharing options...
Commander Posted October 1, 2013 Share Posted October 1, 2013 What makes you want to mod your car? Is it fuelled by being on here and seeing people with super chargers, rare rims, new exhaust systems, shiny engine bays, custom paint, big brake kits, etc... and you want to join in because that's what everybody else is doing to make their cars "better"? The sad reality is that for most of us, you included by the looks, this is never going to happen while maintaining any kind of financial stability. Seeing people spend all sorts of money on their cars is one thing, but they never say what they're earning and how much of a stretch it is for them to afford what they're buying. Going a bit O/T, but this seems related to the general culture of seeing that the older generation have nice things and wanting the same, but without any consideration for how long they've been working to get where they are or how much they earn. Nobody educates people about money and its a very British thing to not talk about how much we earn... We need a Thread for "How much do you earn and what mods have you been able to afford?" Perhaps then people can put their own situations in to context instead of just thinking if everybody else has it, then I must too. 1 Quote Link to comment Share on other sites More sharing options...
rtbiscuit Posted October 1, 2013 Share Posted October 1, 2013 my car is my hobby, but in order to do it I've sacrificed else where, I don't generally have holidays, i don't go out drinking anymore, i don't smoke anymore. but i do most of the work myself. and at some point soon i'm going to put it on hold so that i can spend more money on my family when the kids arrive. my salar is common knowledge as a teacher its a set pay scale, but i'd say after bills etc i don't have a lot left at the end of each month. Quote Link to comment Share on other sites More sharing options...
NeilMH Posted October 1, 2013 Share Posted October 1, 2013 I can only afford 50% of a 350Z so I share ownership with a mate, as I have with our last 4 "fun" cars. Quote Link to comment Share on other sites More sharing options...
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