MyMoney Online, Evergreen Content

The best age to sell your car

(Click here for more from The Money Show.)

(Click here for more personal finance articles.)

What is the best age at which to sell your car?

Should you wait until the warranty expires? Or should you wait for the service plan to run out? Maybe driving it until the doors fall off is best?

We interviewed Mike Schussler, Chief Economist at economist.co.za, about the pros and cons of selling your car at any particular age.

Listen to the audio (scroll down) for more detail.

In the first three years a car depreciates very, very rapidly. I keep my cars for as long as I can. Selling your car after, say, three years is very unwise. Why would you want to buy another car so soon except to boost your ego?

Mike Schussler, Chief Economist at economist.co.za

Maintenance costs will never ever equal your repayments. Buy a car for cash - or pay it off as soon as you can - and keep on driving and driving it.

702 listener

Subscribe to our Business Wrap Newsletter


Recommended

by THE NEWSROOM
Read More
Why the practice of balloon car repayments is banned in many countries

Why the practice of balloon car repayments is banned in many countries

Treasury is planning to get tough on balloon payments for car financing, a practice outlawed in many countries.

Salary not keeping up with inflation? Here’s what to do…

Salary not keeping up with inflation? Here’s what to do…

The rand is weak, interest rates will soon start rising and let’s not mention Eskom. What to do if your salary isn't keeping up…

You (and me!) are almost always dumber than we think when it comes to money

You (and me!) are almost always dumber than we think when it comes to money

Feeling clever about money? You’re almost certainly overconfident, just like everyone else, says Financial Advisor Warren Ingram.

Struggling to save? Let us show you how (despite the rand, petrol, electricity…)

Struggling to save? Let us show you how (despite the rand, petrol, electricity…)

Our resident financial advisor, Warren Ingram, shares his top tips for saving money.

4 dumb things even clever people do when they inherit money

4 dumb things even clever people do when they inherit money

Time and again people (even smart ones) make these same four mistakes when they inherit money.

How to use your phone to save a fortune

How to use your phone to save a fortune

You carry a money-saving machine in your pocket everywhere you go. Here’s how to use it to pinch more than a few pennies…

Can’t (or won’t) buy to let? Don’t sweat; there’s a far more lucrative option

Can’t (or won’t) buy to let? Don’t sweat; there’s a far more lucrative option

Financial planner Claude Hannah compares the costs, risks and returns of property unit trusts to that of buy-to-let properties.

Money CAN make you happy (but only if you don’t buy stuff with it)

Money CAN make you happy (but only if you don’t buy stuff with it)

Can money make you happy? Research proves it can, but only if you give it away or buy experiences instead material goods.

How to start a business with R20 (and no experience)

How to start a business with R20 (and no experience)

She couldn't sew, and didn't have much money, yet Fernanda Morrow created a wildly successful fashion accessory business.

Get hundreds of the very best, most important modern art books on Earth for FREE

Get hundreds of the very best, most important modern art books on Earth for FREE

Quality modern art books don’t come cheap, they come free, thanks to the generosity of the world-famous Guggenheim museum.

13 random thoughts on living a happier, less materialistic life

13 random thoughts on living a happier, less materialistic life

702/Capetalk's Kabous le Roux shares 13 thoughts he has on being less materialistic and living the good life right here right now.

Popular articles
Discovery CEO (and founder) Adrian Gore bares his soul about money

Discovery CEO (and founder) Adrian Gore bares his soul about money

The Money Show’s Bruce Whitfield interviews Gore about his attitude to money (hopes and fears, successes and failures, etc.).

"Duduzane Zuma is the Gupta family's greatest asset"

"Duduzane Zuma is the Gupta family's greatest asset"

Sunday Times journo Thanduxolo Jika who broke the front page story about the Gupta family emails vouches for their authenticity.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

'My daughter bought Spur shares when she was 10 years old' - Dr Adrian Saville

'My daughter bought Spur shares when she was 10 years old' - Dr Adrian Saville

What does Citadel’s famed disciple of contrarian, deep-value investing Dr Adrian Saville hope for (and fear) about money?

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?