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