Could selling your car and taking an UBER everywhere you go save you money?
It sounds strange, but it adds up.
Finance Guru Scott Haywood sat down with Tom Elliott to tell us how we can save money by selling our cars.
Cars can depreciate in value by 15% each year.
If we had $50 a day to catch an Uber or a taxi where we needed to go, that would equal $18,250 a year.
Tom Elliot put it simply – ‘The cost of running a $40,000 car is like having $50 to spend on cabs every day’ –
A short trip in an Uber can cost you as little as $6, but $50 a day is a lot of money to spend on taxis.
What about car enthusiasts who love to show off their machines?
Tom Elliott owns a new Ford Mustang and he loves it – ‘Sometimes at night I just go in the garage and look at it, because it looks nice.’
How do you put a price on that? Scott Haywood says – ‘You’ve got the internet’.
Click PLAY to listen to Scott Haywood and Tom Elliott discuss how selling our cars will save money