Money Lesson Single

The car question

The quote is a few hundred a month and the car is new, so it feels like a solved problem. Here is the same person driving the same miles for the same years in a three-year-old car instead, and what the difference is worth by the time she retires.

Employment Expenses Savings Account Vehicle

Buy the three-year-old car

2 Goals

Pay for it outright from savings, and do the same again every four years.

Try this plan

Employment Expenses Savings Account Vehicle

New on finance

2 Goals

A deposit on a new car, four years of payments, then settle the final lump and roll into the next one.

Try this plan

Buy the three-year-old car New on finance

Buying the three-year-old car and doing it again every cycle leaves you ~£111.5k wealthier than running the same miles in a new one.