Geez, life can be a bugger when you are a pensioner.

[red750]

As I have said previously, I have been without a car for about 10 months. A car that fits my needs like a hand in a glove has become available. Its not a new car by any means, it is a 1997 Ford Festiva. Big enough for what I want, the same model as one I had before some a*hole ran into the back of it and made it a write-off. Despite its age, it only has 114,800 km on the clock and looks as good as new. It has a roadworthy certificate, registered till 18 Jan 2024, is a dealer car with 12 months warranty. The price is $4,000, but I only have $2,000. No finance company will lend me the cash, the minute I say I am a pensioner.

 

The other problem is that my solicitor appears to have messed up the transfer of my wifes shares in terms of her will. They opened an account with the stockbroker in the name of Estate of (wifes name), but transferred the shares into my name. I got a call from the stockbroker to say I should set up an account with CommSec and sell the shares myself. That's all well and good, but it could stuff up the rest of settling the Estate, and could take some time, by which time the car will most likely be sold. I should have the money in 4-6 weeks and could pay back the loan in total.

 

Considering my pension goes up $36-40 per fortnight from next pension, plus I have saved by deleting my wifes phone from the telco account, I thought I would have no trouble servicing the loan till the shares were sold, but it looks like I am just going to let the car go. The dealer won't hold on to it that long. 

 

Stereotypes for you.

[old man emu]

Why don't you speak to the car dealer, explain the situation, and ask if he will hire the car to you until the money becomes available.

 

Mathew 7:7 

Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you:"

 

[facthunter]

They sold a lot of those and they do seem to keep going but are not the greatest driving experience in the world. They wouldn't be worth much more than is being asked..   Nev

[willedoo]

I don't know the situation with other banks, but I found out my bank no longer does any personal loans. The only loans they will give out are housing and business loans. I wonder whether the banks turning away from small borrowers is related to the growth of TV ads for mobs like wallet wizard.

[rgmwa]

If you explained your situation to the dealer and paid him say $1500 he may agree to hold it for you until you can pay the balance.

[red750]

47 minutes ago, facthunter said:

not the greatest driving experience in the world.

Nev, I'm not worried about a driving experience. An enclosed, heated/airconditioned mobility scooter which could take me to the men's shed, (currently 14 km, but soon to be 4 km if we move to the new location), would do just fine, but would probably cost as much. As I said I had one that I was happy with, and used it instead of the Falcon until an idiot in a VW Tourag van run into the back of it. My daughter drives a Festiva the same, and she could borrow this one if hers was off the road for any reason.

 

[red750]

I looked at a number of Ford Focus advertised at the same price, but they were unregistered, no roadworthy, and private sellers, so no warranty. Apart from Gov't fees and stamp duty ($220) and insurance, I'd have nothing to spend on it for a while.

[facthunter]

As long as the head gasket stays OK. That's  the thing that goes in older cars. I reckon you would HAVE to have power steering to park it. As I said the car you have in mind seems to last a bit better than some others.   Nev

[spacesailor]

My very first car ! , I got the dealer to let me ' pay it off '  

But a big deposit could have ruined it for me .

Like you I had no bank assistance at all .

1962 so long ago now !.

spacesailor

[red750]

Big day today. Got the car. I spent a lot of time checking out finance companies/personal lenders, who offered loans of $4000 plus, but wouldn't lend $2000. One company would, but not to a retired person. Even the bank I have been with for over 25 years only lends $4000 and up. I said to my daughter, I want you to drive me to the bank, I want to speak to the loans officer and see what I can do. She shouted at me, "Alright. I'll lend you the money. You are driving me crazy!" She said my sons and her didn't want me getting the car, because they didn't think I was a good enough driver. Damn it, it pack death when I ride with them.

 

Anyway, now I have it. The dealer threw in the Gov't charges, so it cost only $4,000. It would not win any Concors de Elegance, but it runs beautifully. Engine is smooth, clutch is good, four good tyres, RWC, reg till January and 12 months warranty. Enjoyed the freedom and went and bought a $20 mill Super Jackpot lotto ticket. Even paid for that with the 9th div prize I won on Powerball on Wednesday.

[facthunter]

Somehow or other you made it happen.  Nev

[old man emu]

I refer you to my post of last Thursday.

[pmccarthy]

Well done, another obstacle overcome.

[octave]

Apologies for the thread drift although it does relate to money. For those who live in Victoria - I  wonder how many are aware of the $250 Power Saving Bonus.   This is a scheme where you submit your electricity bill to receive comparisons with different suppliers and you receive a $250 cash rebate.  We did this last year and we were surprised to find that we can do it again this year.   You submit your bill as a PDF file or just fill in an online form and you receive rates for other providers. In our case we are already on a good deal.   There is no obligation to change deals or anything.   It is an easy way to earn $250 

 

https://compare.energy.vic.gov.au/

 

[facthunter]

You're not "earning " it you are availing yourself of it.  Nev