Never borrow money to purchase a car. 

(As with all heuristics, there are exceptions. For example, if you can get finance at rate that’s lower than the rate of inflation, or even what you’d get from a savings account. It’s likely to be better to invest your money elsewhere at a higher rate of return. So long, of course, as the loss that the dealer/financier/manufacturer is making on the finance isn’t baked into the price of the vehicle!) 

Sonnie Bailey

Sonnie is an Authorised Financial Adviser (AFA) and former lawyer with experience in the financial services and trustee industries. Sonnie operates Fairhaven Wealth (

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