•
Of course, in order to buy a car, you must be over eighteen. And
remember, buying a car is only the beginning of expenses. You must
ensure that the car has gas to take you to and from your destination,
good tyres so that you won't skid, insurance in case of an accident;
and road tax, which is the only legal way you're allowed to drive in
Barbados. There are other expenses; those are only some that I've
listed. A car is known as a
depreciating asset.
This means that your
car loses value every time you use it. You may purchase a car for
$60,000.00 in 2015 but in 2020, the same car may only be worth
$30,000.00.
It is therefore very important to think about whether you want to make
this type of purchase now or whether you can wait for much later.
Some of the coolest people I know don't drive. They see it as too much
of an expense; and prefer to walk or take the bus. Some of these people
prefer to purchase land or a home, or even invest in a business, before
they decide to buy a car.
Your first car:
is it awant or aneed?
•
•
