To sell or not to sell...

Just thought I'd share this, basically, I need to move out the family home and the only way im gonna be able to afford to live is to sell my beloved sv. It's a K6 with 14000ish miles. I got it on 0% finance and I'm exactly half way through the 3 years of payments, so I'm hoping to sell for the same (or more) than my outstanding finance and pay it off like that. I worked out that including repayments/insurance/petrol/servicing/random things that need replacing...etc I pay out on average over £300 a month on it! I would then use that money for rent.

Now, I don't hate where i'm living at the moment (and its cheap!) I just feel its about time I moved out as I was only supposed to be staying there for 2 weeks after I broke up with my ex and that was over a year ago! I love my sv to bits and its going to be really hard to let her go. But this is something I have to do... right? I guess I just need some assurance that i'm doing the right thing. I'm a libra and find even the simplest decisions mentally draining!! So...your thoughts..?

I'd stay there until I could afford both. If the situation is adequate enough enjoy the spare cash.

Depends on how much you can get for the SV.

I reckon you might find you won't be able to pay off the finance.

Have about ?2300 to pay on finance, been looking on autotrader, should get that if not more for it (if thats anything to go buy...)

Ok, i guess that's achieveable then.

I wouldn't countenance selling my bike, but its your call at the end of the day.

[pmapp]

Stop at yer parents, and plow all your spare money into paying the bike off. Get it paid off as soon as poss - then move out. Once it's yours it dosn't really cost you much to keep it.

HTH

Originally Posted by pmapp

Stop at yer parents, and plow all your spare money into paying the bike off. Get it paid off as soon as poss - then move out. Once it's yours it dosn't really cost you much to keep it.

HTH

What he said.

Originally Posted by poisonidea

Just thought I'd share this, basically, I need to move out the family home and the only way im gonna be able to afford to live is to sell my beloved sv. It's a K6 with 14000ish miles. I got it on 0% finance and I'm exactly half way through the 3 years of payments, so I'm hoping to sell for the same (or more) than my outstanding finance and pay it off like that. I worked out that including repayments/insurance/petrol/servicing/random things that need replacing...etc I pay out on average over ?300 a month on it! I would then use that money for rent.

Now, I don't hate where i'm living at the moment (and its cheap!) I just feel its about time I moved out as I was only supposed to be staying there for 2 weeks after I broke up with my ex and that was over a year ago! I love my sv to bits and its going to be really hard to let her go. But this is something I have to do... right? I guess I just need some assurance that i'm doing the right thing. I'm a libra and find even the simplest decisions mentally draining!! So...your thoughts..?

Bear in mind that unless you live in Beirut, you're not going to get much of anywhere for ?300 a month. Stop where you are until the bike's paid off.

Stay where you are if your parents are fine with it for a little longer. Lived with my parents numerous times, pretty handy really.

If you do get rid of the bike, what is going to be your main form of transport.
I would take this into consideration as bikes can be quite an economical form of transport as opposed to public transport and cars. Remember that car tax is loads more, insurance, fuel and general maintainance.