Unsure whether to sell car to clear debts - Hi all, looking for advice on my situation not my previous decisions please. I’m 22 y/o and have around £3.5k in credit card debt at the minute, and own my car worth ~£21/22k outright. I’m still living at home, for the next few years until I have enough to move out and rent/buy. It’s not the cheapest on fuel being a 2 litre and also potentially going travelling next year for 3-6 months and going into the military so will be doing a lot of driving. Is the best option for me to sell my car and buy cheaper using the rest to clear my debt? Was thinking of using £10k or so for a new car, clearing my debt and sticking the rest in an ISA. (I have student loans etc but not including those for now). Many thanks Personal Finance

Unsure whether to sell car to clear debts - Hi all, looking for advice on my situation not my previous decisions please.

I’m 22 y/o and have around £3.5k in credit card debt at the minute, and own my car worth ~£21/22k outright. I’m still living at home, for the next few years until I have enough to move out and rent/buy. It’s not the cheapest on fuel being a 2 litre and also potentially going travelling next year for 3-6 months and going into the military so will be doing a lot of driving. Is the best option for me to sell my car and buy cheaper using the rest to clear my debt? Was thinking of using £10k or so for a new car, clearing my debt and sticking the rest in an ISA. (I have student loans etc but not including those for now).

Many thanks


Shortnsalty 33d

Berkshire is hoarding so. much. cash.

Berkshire is hoarding so. much. cash.
Goldrush_Greg 64d

Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends

Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
Stonksurfer42 94d

Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on

Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
Moonbagjack 125d

Where does this end up long term with small stocks suffering white giant caps are taking all the coin?

Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
Chartwizard_Au 155d

🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...

🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
Tendies_Inbound 1y

#ASX:ASN Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?

Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?