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The original was posted on /r/ukpersonalfinance by /u/Tintedlemon on 2023-10-03 11:15:51.

Hi All,

So I’ve just been told my car needs a new engine and will cost £3k+. The car is not worth that, so I will scrap it. I’ve always hated the idea of having a car (or anything) in finance. I hate the idea of owing money, being in debt, etc.

But I need a new car. I can afford a relatively cheap car, but don’t want to be in the same situation in 12 months time.

Is cars on finance a stupid idea if I can afford a cheaper car? Will it affect my credit score or ability to get a mortgage?

I hate car shopping. Thanks in advance!

EDIT: Also I cannot believe how much cars have gone up in price since I last bought one!!

EDIT 2: Wow that’s for all the great input! More details as requested. Annual Mileage 6k, I have no debt, good credit history, etc.