n Personal Finance Newsletter - Cars are a lousy buy! : vehicles

Volume 2006, Issue 307
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Extracted from text ... 4 July 2006 Moneyweb's PERSONAL FINANCE VEHICLES Cars are a lousy buy! Accountants should be shot at dawn for referring to vehicles as "assets", since in most cases they are nothing of the sort! By GAYLYN WINGATE-PEARSE SOUTH Africans have an enduring love affair with their cars, but as the saying goes, anything that has wheels (or wears a skirt, according to the chauvinists) is going to cost you a lot of money. This is demonstrated by the high levels of depreciation that vehicle owners experience when driving that fancy new car off the showroom floor. "Depreciation", for those ..

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