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    Having started a graduate job that pays £28000 a year up north (much cheaper living costs), I ended up buying a 2015 ford focus on car finance. I've since realised how much of a money sink this is and want to get away from it. I'm currently living at home paying £200/month in board and £331/month on a car loan. I also spend around £120/month on fuel plus I pay around £600/year for insurance. Putting my monthly car expense at roughly £500/month (without even counting services, road tax etc.

    As I work in the city centre I'm considering selling my car back to the garage and taking the hit on the deprecation (around £1400 though I have the money to cover this). Then using the freed up finance to help me get a mortgage on a 2 bedroom flat in or within walking distance of the city centre (I have enough saved up for a 5% mortgage).

    Is it practical to get rid of my car when I'd be living in the middle of a major city (with good metro and bus links to other places) especially when my work and most of my friends are in the same city around the same location?

    Yes it would be practical. Most cities have great transport networks and you'll find driving around a ball ache anyway. Just a couple of questions, can you definately sell your car back to the garage even though it's on finance? And secondly, don't get stumped by the expense of house/apartment prices. They are considerably more in and around City centres so you may need to look at alternatives to begin with.
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