Laugh at my financial decisions, then help!

[lordrobs]

I think you've misread it - I think he meant that if he paid off the £25k loan as he originally intended to, he would have ended up paying £31k back overall when the interest was counted. I'm assuming it was a £25k loan over 5 years at 9.9% = £31486 total repayable or £525pm which is what he mentioned he was currently paying

He's currently got £22k left to pay on the loan and the car is worth about £16.5k on a good day

You are right... and I'm doing a very good job of showing why its a good thing I avoid any kind of finance

Still, same options apply all be it with a bit less negative equity.

 

[Kill_Phil]

You are right... and I'm doing a very good job of showing why its a good thing I avoid any kind of finance

Still, same options apply all be it with a bit less negative equity.

But there is the issue, negative equity and would still need to buy a car

Just gotta suck it up imo

 

[squerble]

But there is the issue, negative equity and would still need to buy a car

Just gotta suck it up imo

But would you suck it up in the sense of just keeping the Focus, or would you suck it up in the sense of sell the Focus, buy a boringly reliable £4-5k Micra, and just deal with the remaining loan as quickly as possible?

 

[Kill_Phil]

But would you suck it up in the sense of just keeping the Focus, or would you suck it up in the sense of sell the Focus, buy a boringly reliable £4-5k Micra, and just deal with the remaining loan as quickly as possible?

I'd just keep the focus. All depends on financial circumstances of course.

Given your purchase history are you really going to settle for a Micra?

Did you look at whether you can attain a lower Apr?