I seem to be haemorrhaging money lately and the culprit? My car. This is a surprise because this car is newish, only 3 years old.

You see, for past four cars I have opted for a contract purchase. Before you judge me, this decision was precipitated by a traumatic incident when the engine of my used car fell out, like it was literally on the road. And as if that wasn’t bad enough an enthusiastic ticket inspector gave me a ticket for parking in a no park zone i.e. the middle of the road. 

After this incidence, I decided new cars was the way to go, I picked budget friendly brands (SEAT and Skoda), with service plans included and crucially 3 years contracts. This time, I extended to a 4-year contract to stay under budget. Big mistake, on the 3-year mark instead of a the usual key handover for a shiny new car, its been one hefty bill after another. Technically, I could still get a new car but interest rates much higher than in 2022, I would be paying more for a potentially worse car.

Firstly, the free service plan only covers 3 years servicing and being a relatively new car, it’s dealership-only servicing. Is there one nearby? Nope that will be a 15-mile journey and £250 bill. The servicing unearthed a few unwelcomed surprises, brake pad and disc needed changing (£500), One tyre is dangerously worn and thanks to an encounter with a kerb, another tyre had a tear (£288 for the pair). Brake fluid change (£84.76). To add insult to injury, my locking wheel nut key had vanished into thin air (still no idea how). Surely a replacement is simple. Nope. All the nuts need replacing and a new key provided (£150). So, I’m looking as a bill of £1,273.48 for my newish car. But wait, there’s more, Now the car is 3 years old its due for MOT (£50) assuming it passes. Sigh.