Tuesday, April 15, 2014

The Colour of Money

What does the colour of your car say about you? Well, according to new and used car sales figures, the colour could say you're very shrewd about money.

Despite there being a virtual rainbow of colours out there in the car world, the most popular colours are the most conservative – white and silver/grey. And the reason they're so popular is, primarily, ease of resale.

If you have an average small hatch back in flaming burnt orange, passion pop purple or tree frog green, it's going to be a lot harder to sell than if it's wearing a conservative colour. The demand simply isn't there, and when you want to sell a car, you don't want to be stuck with a citrus orchard lemon.

Rainbow colours also don't stand the test. The odd chip or scratch is a lot harder to patch with touch up paint. Australia's blazing sun can be harmful too, dulling and fading bright colours that don't cope with the heat.

If colour means the world to you and resale doesn't come into the picture, enjoy getting the most colourful car you can find. Your choice will make the world a far more interesting place. But if money matters, play it safe and go for white or silver/grey. You might seem boring, but you're smart.

Thursday, April 3, 2014

Get on a savings drive

Want that car? The one you've always dreamed of? All the desire in the world counts for nothing if you don't have the dosh to back it up. So, here are a few tips to help you save for your dream car.

Get real. Sure you'd like a Ferrari, but maybe you only need a Mazda 2. Figure out what sort of car is best for your lifestyle and income and you'll have a realistic goal of what you want and how much money you'll need.

Save. Sounds simple, and it is. Just be honest and consistent, put 'X' amount aside every week, every month, and you'll soon reach your goal. Like the shampoo ad used to say, "It won't happen overnight, but it will happen".

Wheel and deal. When you're scrimped and saved, reached your goal and can't wait to buy your car – don't do it! Money burns a hole in pockets, with the urge to spend blurring judgement. Relax, take your time, haggle a bit, suss out deals or negotiate a lower price. Just because you have the money, you don't have to spend it all.

Wait, there's more. It's called running costs. Before you save for any car, or consider any model, think about how much it will cost to keep on the road. There's no point getting the car of dreams if you can't afford to drive it.