I Have A Dilemma

[fruitsalad]

Its not a bad one to have, but I really don't know which choice to make, my Son gave me a Mercedes (yes Gave me) It was a large powerful car that would use lots of fuel, and was more than I needed for around town, he said I could do what I wanted with it, so I decided to sell it, I got £6000 that is more than I have ever had in my bank account, which makes me very hesitant to touch the money, but sooner or later I will need another car, I do own a little run around at the moment, (not sure how long for though its old) so I was wondering what would you do? purchase another car, straight away, or just leave the money in your bank for a while.

[Sqad]

Buy £6,000 worth of Premium Bonds.

[bednobs]

im not sure why this is in body and soul but no mind, i would keep the money in my bank account and keep my old car till it stops working or becomes too uneconomic to repair

[Zacs-Master]

Yep, keep the money and wait. Maybe put it in an ISA?

[davebro]

Yes - leave it until you really need to get a new(er) car. Some bank accounts will even give you a little interest now! (Chance savings a/c 1.5%)

[davebro]

CHASE not CHANCE !

[ToraToraTora]

well the cost of used cars is going up at a high rate at the moment so it may be prudent to buy something suitable for your needs now. Failing that go with sqad.

[Zacs-Master]

Tora, back in 2017 you wrote 'Finally the manufacturers put an end to diesel silliness. They'll mostly be worthless in within a year'

Strange times, eh!

[Zacs-Master]

And then in 2018 you wrote 'Flog it pronto, they will be worthless pretty soon. Expect tax hikes'

Eeeek!

[ToraToraTora]

yes, other factors have come into play since then but I still would not suggest diesel.

[bednobs]

especially not for runaround trips

[ToraToraTora]

at that time I did think that governments would try and get diesel off the kermit by taxing them more heavily. Though I think the move to lecky jam jars and ending manufacture of fossil fuel guzzlers has superseded that.

[Zacs-Master]

Indeed.

[dave50]

Second hand deisels will be worth a fortune after they stop making them, buy a few .