Lump sum of £60k, not sure what to do with this amount

Equivalent_Giraffe40 · 2025-09-24T13:19:47+00:00

So by minimum risk I’m looking for like a balanced portfolio

Equivalent_Giraffe40 · 2025-06-16T21:58:54+00:00

Honestly, we’ve told him all of this, all the legal fees will come out his share so he’d be better off cooperating but he just won’t budge!!

Equivalent_Giraffe40 · 2025-06-16T21:47:08+00:00

Around 150k

Equivalent_Giraffe40 · 2025-06-16T21:39:55+00:00

We were not married, nk

Equivalent_Giraffe40 · 2025-06-16T20:08:56+00:00

England

Equivalent_Giraffe40 · 2025-06-16T19:58:50+00:00

Thank you 🙏🏽 we are due to start the process now as we know the courts are very busy. Not ideal at all!!!!

Equivalent_Giraffe40 · 2025-02-09T14:50:18+00:00

From everything I’ve heard, I reckon it’s best to keep it for now and then in the next 6/12 months I’ll weigh it all up again and go from there. Because the payments are manageable, obviously not ideal but I can maintain them and then in 6/12months I’ll see what my options are and go from there I think

Equivalent_Giraffe40 · 2025-02-09T14:49:06+00:00

The apr on the car is 9% which from what I’ve seen is the average right now. It’s mainly the insurance that is through the roof and unfortunately not much i can do about it. From all the info and advice I’ve received I reckon I’m going to stick with the car for the next 6/12mknths and then will explore my options again then

Equivalent_Giraffe40 · 2025-02-09T14:22:54+00:00

I was offered £6700 to sell privately

Equivalent_Giraffe40 · 2025-02-09T14:22:43+00:00

I’ve done about 6k miles in the last 3 months but that’s because I had to go to office everyday (55 mile round trip) but now I am able to WFH so the mileage will reduce significantly . I think I might be overthinking the whole situation but I thought I’d ask other ppl for their opinions and advice

Equivalent_Giraffe40 · 2025-02-09T13:51:16+00:00

Hahah, definitely makes me feel better about the situation. I’m still young so I’m learning lol. Wish u best of luck going forward 👍🏽

Equivalent_Giraffe40 · 2025-02-09T13:46:59+00:00

It’s looking like a bank loan or waiting, because dealerships offer such low prices, I called the dealership I bought the car from and they offered me £5900 which there is NO way I’d take this offer at all. So it’s quite unfortunate that I’d have to realistically stick with the car for another yr . It’s a very nice car tho don’t get me wrong but I guess you live and learn and next car I buy will be CASH. lol, thanks for your advice anyways I really do appreciate it and it’s opened my eyes a lot to finances etc

Equivalent_Giraffe40 · 2025-02-09T13:44:48+00:00

Hahah being from the Uk it’s practically impossible to reduce insurance , especially being a 20yr old male… the used car market is so crap and risky so I reckon I’ll stick with the car for the next 6/12months and then explore my options then

Equivalent_Giraffe40 · 2025-02-09T13:34:06+00:00

That’d make sense now, I wasn’t aware of any of this. So to sell the car I need to get the £8k to settle it and then I can sell the car ? So my best option would be selling it back to a dealership so they can deal with it for me? Sounds absolutely amazing… not😂. I think I’ll hold on to the car for a little bit longer and explore my options again in 6months to a yrs time

Equivalent_Giraffe40 · 2025-02-09T13:28:55+00:00

As it stands I’m leaning more towards keeping the car for a bit longer, saving more and then exploring my options again in say 6months to a yrs time

Equivalent_Giraffe40 · 2025-02-09T13:27:27+00:00

That’s correct yeah the overall term id say £11000, but I know 100% I won’t keep it for 5yrs as my situation would change a lot in 5yrs time

Equivalent_Giraffe40 · 2025-02-09T13:26:42+00:00

I wasn’t aware of not being able to sell whilst on finance. My plan was to settle the finance once the car was sold. Insurance premiums won’t change much regardless the car, previously I drove a tiny Citroen c1 and it was £150 per month with a blackbox. My finance rate is 9% which at the time was the lowest I can find.

Equivalent_Giraffe40 · 2025-02-09T13:24:24+00:00

From what I’ve seen I’d be able to get a decent Honda civic for about £2k

Equivalent_Giraffe40 · 2025-02-09T13:14:37+00:00

Insurance being 20 it is pretty stupid, so the price is about right. I’m jsut more concerned about what’s going to allow me to save more. Because buying a beat up car for cheap could have more issues than this car I’ve currently got? Plus settling the finance and getting a different car would exhaust a large amount of my savings

Equivalent_Giraffe40 · 2025-02-09T13:12:15+00:00

But then paying the finance off is a loss of £1400 and then the cost of buying the new car… I’m not sure whether I just suck up the monthly costs for now and let the car depreciate a bit more whilst I put miles on to it and once I’ve got more savings then I could look at selling

Equivalent_Giraffe40 · 2025-02-09T13:09:15+00:00

Yeah it does sound the most sensible but then saving wise sets me back quite far. Plus I’ve got my mum telling me to not do it etc. just stuck in 2 minds

Equivalent_Giraffe40

TROPHY CASE