The #1 money pit we all fall into … Cars

Love them or hate them, in the modern world we live in it is almost impossible to live without a car. But whether we buy a new or used car, and how much we choose to spend in doing so is most definitely something within our control.
So in todays video I discuss how I saved more than £20,000 by buying a used car.
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[@CherryBelle-sh2jx]

Another fab video Jacob. You are wise beyind your years.
This is the video all the "youngsters" should watch.....ie anyone under 50 (im 56 lol) 😂.
I bought my first car in 1990 at age 23, two weeks after passing my test (first time....im still proud of that😂)......and that car was a 1967 Triumph Herald, which was same age as me.
All my friends were buying new Ford Escorts or Vw Golfs etc on 4 or 5 year bank loans and said i was a fool to buy a 23 year old car.....well, i bought that Herald for £350 after my mechanic had checked it over and told me it was mechanically sound and virtually no rust and only 28,000 on clock. It sailed through its next 13 mots and i had it serviced every year at minimal costs due to it being a very simple car which i loved. In 2003, a chap offered me a huge amount of money as he was looking for a Herald to restore......I sold my darling Herald for £7k. By then I was working for an OEM car manufacturer, Ford, and I bought a brand new KA in 2003 with a 30% Staff discount and paid 50% deposit, 50% on 0% finance for a year....grand total £3250. I kept the KA until 2019 until a woman crashed into me and her insurance deemed my KA a right off. Due to its fab condition, they paid me £1400....£1850 depreciation is not bad for 16 years of motoring. I took that cash and added more cash and brought a one year old Hyundai i10 from a friend (who had won it in a competition) for £5k. My commute to work was a 6 mile round trip. Since 2020 ive worked from home and took a welcome redundancy (was planning to retire anyway) in Feb 2024. AnyCar valued my car at £8k last week.... Hence I agree with your advice 1000000%.... dont lease hire a depreciating asset.
Of course I've been exceptionally lucky with the Herald and ive never had long commutes.....but people do need to be sensible. I have two standing orders that leave my account every month 1) replacement car fund and 2) the cat's private health vet insurance fund....😅😅😅

[@jamiefarrell4425]

More great advice, but I will admit not something I have done myself as I’m something of a petrol head. I’m lucky enough to have a good income and a salary sacrifice lease scheme through my employer. So my daily driver is leased and I own a fun “weekend” car too. It’s my dad’s fault, he likes his cars too 😂

[@JacobBurchell]

Haha we can blame your dad for that then! To be fair I'm not saying don't ever buy a nice car, if you can afford it then go for it, but for some people they prioritise the nice car over things they really need, and if you do that early in life it can have a detrimental effect on your later life.
Thanks as always for watching and commenting!