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10. Buying a Vehicle

7 Oct 2020

10. Buying a Vehicle

Buying a vehicle is a very exciting time in one’s life. It’s always tempting to buy something better or bigger than one can afford. We have to remember:

  • Most cars lose value at an alarming rate
  • Cars eat money. They consume fuel, oil and tyres. They need servicing and maintenance. They need to be insured, as they are vulnerable to accidents and being stolen
  • The bigger the engine, usually the more fuel the car will consume
  • Driving in heavy traffic every day generally shortens the life of a car

So, using good credit, let’s buy a vehicle. Obviously paying cash would be first prize, but we need to learn about the ins and outs of using credit…