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Salary Sacrifice Car Schemes - Good or Bad?
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I have always bought cars with cash. I then start saving again into a high interest account (I wish!) so that I have the money in another 5-6 years to do the same.
My outgoings spreadsheet has "Car 1 depreciation" of £3000 per annum, which is an £18k car that's worth £3k after five years, which is deliberately pessimistic. For car 2, I have £1600pa, which is a £10k car that's worth £2k after five years. Currently, we're running a 2006 Audi A8 and a 2009 Fiat 500, but if we have to tighten our belts, we keep them for longer and/or drop down to one car and/or go for something slightly less flashy when we switch.
£4600 pa is a fair chunk of change, but I don't reckon the depreciation on a new Ford Mondeo or Renault Laguna over the first three years is much less.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
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