Source:
www.spreaker.com/episode/por-...
“The car has become the number one killer of wealth creation,” warns financial advisor and influencer Javi Linares. The reason is that the vehicle in which families travel is usually their second largest expense, after the house in which they live, and they often do not know what the total outlay and opportunity cost of spending thousands of euros on the car will be. instead of doing it through savings or investment.
Linares advises applying three simple rules that will prevent this important decision from ending up creating a hole in the bank account. One of them is the 4/20/10 rule, which is very useful for setting the budget and the maximum financing period in case you cannot afford it all in cash.
We must also be aware that emotions play against our domestic economy. Especially when purchasing a new car, because “there is a lot of ego in buying a vehicle on too many occasions,” warns the financial advisor.
And once the budget has been set and the acquisition method - purchase, renting or leasing - has been chosen, it will be necessary to opt for the most efficient vehicle model from an economic point of view. Electric, hybrid or combustion? Pere Prat, motor journalist and jury of the Car of the Year in Europe, responds in the podcast.
In any case, you can help raise the down payment by claiming a refund of what you overpaid for a vehicle affected by the cartel in which the majority of manufacturers in Spain participated between February 2006 and August 2013. Lawyer Manel Espinosa (Allura and Peimondt) details step by step how to do it.