Читать книгу Sort Your Money Out - Glen James - Страница 17

Unless you have salary packaged a car, you live in your car (long commuter or sales rep) and/or it has been calculated by your accountant to show that you're able to save tax by paying for car costs pre-tax, you need to decide whether you should try to pay cash for your future cars. This will generally slow the purchasing process down while you save the amount needed and tends to result in more careful decision making and not spending as much on a car as you would if you used debt to purchase one. Psychologically, it ‘hurts’ much more to spend your own saved money than to get a loan.

If you have a mortgage and equity in your property, it's sometimes tempting to refinance the mortgage to buy a car. I still believe using your own cash will stop you overspending on a car. If you do, however, think, ‘It's all good, Glen, I got this’ … please make sure the broker sets up a separate loan for the value of the car, and pay this down over four years. You don't want to be paying the car off for the next 20+ years.