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Spend savings on brand new car
Comments
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sevenhills said:What is the point in being wealthy if you don't spend it?
Eco Miser
Saving money for well over half a century4 -
Eco_Miser said:sevenhills said:What is the point in being wealthy if you don't spend it?1
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Although it might be better suited to a spending board than the investments and savings one, the question on what’s most ‘money saving’ is always worth considering. Bringing forward a planned purchase to avoid price increases is usually recommended if affordable - just look at many of the newsletter tips that are in a similar vein of avoiding price increases. But the question of getting the most for your money also needs consideration, and new cars suffer in comparison to used cars in normal circumstances (and the data is showing we’re rapidly returning to more normal service w.r.t. second hand prices).
So I’d summarise it as follows:
most saving = keep existing working car (also greenest option)
if wanting to treat yourself with a luxury purchase of a new car anyway = might as well bring forward a purchase to avoid price increases
best bang for buck but still treating yourself = spend the same money but get a nicer car second hand to waste less on depreciation and put more of the value into something you benefit from over the life of the car 😊
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InvesterJones said:Although it might be better suited to a spending board than the investments and savings one, the question on what’s most ‘money saving’ is always worth considering. Bringing forward a planned purchase to avoid price increases is usually recommended if affordable - just look at many of the newsletter tips that are in a similar vein of avoiding price increases. But the question of getting the most for your money also needs consideration, and new cars suffer in comparison to used cars in normal circumstances (and the data is showing we’re rapidly returning to more normal service w.r.t. second hand prices).
So I’d summarise it as follows:
most saving = keep existing working car (also greenest option)
if wanting to treat yourself with a luxury purchase of a new car anyway = might as well bring forward a purchase to avoid price increases
best bang for buck but still treating yourself = spend the same money but get a nicer car second hand to waste less on depreciation and put more of the value into something you benefit from over the life of the car 😊1
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