Posted by: sweet | 2011/05/12

buying a car

is it wise to sell my shares and unit trusts to buy a car? i really need a new car because the current one is giving me problems and i''m spending a lot tryinmg to fix it. i want to sell my shares and unit trusts because i feel that i''m suffering while i have money. please advise

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Our expert says:
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I dont think that there are right or wrong answers here - do the maths. It probably makes sense to sell some investments to do this rather than to get into debt. But you need to look at the total cost of the car versus what you are paying to fix it...if you have spent all that money fixing it then maybe you should keep it for longer? Is this an emotional or financial decision?
Also, what are your investments for? If you can sell some without affecting your goals etc then it is probably not a bad idea. Perhaps you should speak to a financial planner about this some more?

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Our users say:
Posted by: Vrye Denker | 2011/05/16

It''s not a good idea. If I were in the same situation, I would rather cut down on the amount of money I invest in shares and trusts every month and put that towards a ncar''s instalments than selling my shares and " investing"  the capital in a car, which loses value the moment you sign the papers. In a perfect world, you would be able to use the dividends from your shares to pay your car''s instalments via a special arrangement with your bank. But we don''t all get that much dividends in a year...

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