Dont know what to do!

megakid

megakid

megakid

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Hey all

Hit a bit of a dilemma and I dont know what to do!

I'm currently in my 2nd year of uni and as some may remember, I'm gunning for a Celica ST205 GT4 after summer (I have a 12 week internship/summer placement at a big investment firm which is where the funds are coming from).
I am currently driving my mum's Corsa 1.4 Auto - have done for 3 years now without incident - and it is effectively mine, insured in her name (*flame suit* I dont want to get into that insurance argument again please!).
Now my mum isnt too keen on the idea of me getting a car in september, now maybe she thinks it's too quick or a waste of money but that's irrelavant...

What is relavant is that she has offered to pay insurance and tax on the Corsa, in my name, giving me NCB for the first time when the renewal date comes around in May instead of selling the car then - which doesnt really affect me as I wont have access to it over summer in London anyway.
My head is telling me this makes so much sense - it'll save me an absolute packet of money, get my NCB to atleast 1yr and be cheaper to run (petrol wise).
My heart is completely the opposite, I really crave a new car at the moment, I find the corsa boring to drive and feel after 3 years of no incident driving that I deserve an increase in performance.

Annddd...I would love that increase for my 3rd year of uni! Can I justify spending my entire summer earnings plus more (approuching £8k) on a car/insurance.

If all goes well, I'll be looking at a reasonably paid job (£30k) after i leave uni and her argument is that I can buy a car then - a better car than I can in september - and afford to keep it / maintain it.



The bottom line is, I can't help but think that if I'll be working in the city (London) that I wouldn't really get to enjoy the car as much as I would next year where I'm still a student - with plenty of freetime etc...

Sorry about the long post - Usually I'd always pick the sensible option here (ie keeping the corsa for another year) but this has really stumped me!
Might seem like I'm making a mountain out of a molehill but your thoughts, i believe, would help me greatly!
 
Kitchster_uk said:
Don't do it!!!!


Ditch the hateful Corsa of Beelzibub and buy the GT4. It makes sense:D
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rofl then get an insurance quote and realise you cant afford to drive it :/
makes loadsa sense.
hate to put a dampner on this but a gt4 with no ncb will be crazy to insure, your mum is right just wait a year and you will get what you want, 1 yrs ncb makes so much difference.
 
Have you done some insurance quotes on the GT4? If not get some done asap. You may find you cant get uinsured yet, if not then just go on the Corsa for a year. The 1NCB should help you out quite a bit.
 
SaBBz said:
Sorry, buy a mondeo.
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:rolleyes: laughing so much at that, not funny.

Personally i would wait till you finish uni, a GT4 won't be cheap to run.

If you get any mechanical problems during this time how will you pay for them?

With NCD insurance won't be cheap, thats if you can even get insurance.
 
Firestar_3x said:
:rolleyes: laughing so much at that, not funny.
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:rolleyes: I was actually being partially serious. It's probably a good idea for him. Bit more poke, whilst not being expensive to buy or insure.
 
megakid said:
If all goes well, I'll be looking at a reasonably paid job (£30k) after i leave uni and her argument is that I can buy a car then - a better car than I can in september - and afford to keep it / maintain it.
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Personally I would stick with the Corsa until you actually HAVE the high paid job.

In my last year of uni I was going to have a well paid design job for a large electronics company by now... :o

I'm not saying you won't get your dream job but it might take longer than you think.
 
If you're stretching everything to purchase a car - it's all going to go wrong.

You've got to budget for the insurance - and as has been said, I'll be surprised if anyone will insure you at all on a GT4. Then the obligatory cambelt change that you should get done when buying a 2nd hand car - that's £500 or so. Things on cars like that break all the time, and keeping a 4wd jap turbo car on the road isn't going to happen on a student budget!

I only just managed to keep a piddly 1.1 Fiesta on the road through uni on a student budget, and parts for that were dead cheap and easy to come by.
 
Free car for a year..... !!! With tax, and insurance!!

or spend a lot/all of money buying and insuring a better car then go to uni where you earning nothing? and try to keep it running for a year.

I hate to be sensible but it is better to wait especially as you have a free car!
 
Take the free car for a year! You'd be silly not to!

So it's a Corsa, so what? You've been driving it for the past 3 years, another year won't hurt.

Put the money you would have spent on the GT4 + insurance away, and save it until you have finished Uni, are sure you've got a job, and then you can spend it on the car you want, when you will have the required money behind you to keep a powerful Japanese 4wd turbo car running! :)
 
Sounds a bit like my brother; he had a fiesta while at uni with insurance and whatnot paid by our father.

When he left university (6 or so years ago) he bought a celica st185. He took out a loan from our father to buy the car and gradually paid him back (like you do with any loan). As he had summer jobs while at uni he could afford the running cost. He was also competent at fixing the car, should parts need replacing.

A couple of years later he part exchanged the car for at GT4 st205. After a year or so he bought a house and found that GT4 was too much to run so he part exchanged that with my dads mondeo estate - which my brother was happy about as was cheaper to run and could transprt lots of junk plus money from the car.

Having a free car is not bad so if you can wait, then wait.
 
saitrix said:
Have you done some insurance quotes on the GT4? If not get some done asap. You may find you cant get uinsured yet, if not then just go on the Corsa for a year. The 1NCB should help you out quite a bit.
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The insurance is ~£1600 fully comp - and imo, affordable.
 
Uni is time for everything cheap :)

I started off uni with a hand me down Fiat uno, then i bought a cheap as chips TD xantia which i am still running. I ran it all the way through my placement (and commuted 40 miles a day in it for 13 months :p) and its still my car now. I dont like the way it drives, it has no performance whatsoever and I will get rid as soon as I have finished this year and next years masters.. until then however I wouldnt even consider buying a performance car of any sort.

Uni life just doesnt "go" with it.

I know someone who bought a new MG TF (for some reason his dream car) whilst on his placement, now hes too scared to park it in the uni car park...

I use the thought of getting a better/faster/newer car as motivation for finishing uni(s) and getting a good job after :)
 
megakid said:
The insurance is ~£1600 fully comp - and imo, affordable.
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Not too bad accually! Was expecting over £2k for you. Still would be tempted just to say that you need to wait only 1 more year on. Try a quote for when your 1 more year on with 1NCB with the cheapest company. See what the quote is then. Might be quite a bit less. I know that mine goes from £1500 (including pass plus discount) to £980 just being 1 year older and having 1NCB.
 
Spending all your work placement earnings on a powerful car whilst you are still at Uni is a very silly, very foolish and financially a bad idea.

Do it. :D
 
[TW]Fox said:
Spending all your work placement earnings on a powerful car whilst you are still at Uni is a very silly, very foolish and financially a bad idea.

Do it. :D
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Has someone hijacked your account?! :eek:
 
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