Your One-Stop Car Finance Guide

Was Buying a Used Tesla the Right Decision?

Photo by Roberto Nickson on Unsplash

Depreciation: New vs Used

New cars lose at least 50% of their value in 3 years.

ICE vs Hybrid vs Electric?

Internal Combustion Engines, or ICEs, are the behemoths of the car industry. Picture any car and it’s probably an ICE. Powered by fossil fuels, serviced by mechanics the world over and the de facto choice for most people.

Personal Contract Plans (PCPs)

A PCP is a shockingly enticing financial product.

Hire Purchases

A Hire Purchase, IMO, is the least compelling option. The clue is in the title: “Hire”. Not only do you not own the car until you make the last payment, you can’t even sell the car mid-loan. You are essentially locked-in to the dealership for the duration of the HP contract and typically, the rates of interest charged are higher than you would get from a bank loan.

Personal Loan

In my case, I narrowed my choice of next car down to this:

Talkative. Easy-goer. Globetrotter. Quixotic. Polemic. Mind-changer. Tea Drinker. Nerd. I write (mostly) about the books I read.

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