Craking advice from most here.......................remember...............
Most cars LOSE value, most properties GO UP in value.
We are entering a period where cash will be king.
DO NOT borrow money to buy a depreciating asset. The amount of your loan will come off your GROSS income when applying for a mortgage, not your net. It has a bad effect on what you can borrow. (x3 at least)
Money in the bank will count for a lot in the next 18 months.
Do as the chaps/chapessess say, buy a runaround. No one notices a £10k motor, similarly, no one notices a £100 motor.
Keep your powder dry. Buy a house late summer when prices are very low, mortgages will be crippling people by then.
Low prices will also apply to TVs, Holidays, Cars, Hi-Fis......in fact, any substantial purchase of an asset in late summer will be a doddle if you have cash!
You have some good advice going on here.....listen and take heed......
DONT BORROW ANY MONEY TO BUY A CAR!
