Channel nine and the new car for the price of a coffee!
May 13th 2009 13:53
Channel Nine have done it again!
A slow news day and "A current affair" vomits up a story about “A new car for the price of a coffee!”
Mmmm, sounds good! but then when you listen to the story, their industry expert John Cadogan, tells you to extend your mortgage and buy a new car!
Really??
What a concept!! Refinance your house and then buy a car with the money, how long is your mortgage term? 30 years? 25 years? Guess how long you will be paying it off for, that’s right, the term of your mortgage!
Of course, you will have sold the car after three or five years ownership meaning you are still paying it off years after it departed your driveway! A great idea! Cadogan also then spruikes that once you trade it in, do the same again!
What happens when interest rates go up again, as they inevitably will? You end up paying Rolls Royce money for a Hyundai! That sounds like rock solid financial management to AUTOLOUD!
NOT!!
Psssst! Just in case you believe in conspiracy theories, Channel Nine own a large portion of carsales.com and of course if more people look at and buy cars using that website who benefits?
Amongst others, Channel Nine of course!
A slow news day and "A current affair" vomits up a story about “A new car for the price of a coffee!”
Mmmm, sounds good! but then when you listen to the story, their industry expert John Cadogan, tells you to extend your mortgage and buy a new car!
Really??
What a concept!! Refinance your house and then buy a car with the money, how long is your mortgage term? 30 years? 25 years? Guess how long you will be paying it off for, that’s right, the term of your mortgage!
Of course, you will have sold the car after three or five years ownership meaning you are still paying it off years after it departed your driveway! A great idea! Cadogan also then spruikes that once you trade it in, do the same again!
What happens when interest rates go up again, as they inevitably will? You end up paying Rolls Royce money for a Hyundai! That sounds like rock solid financial management to AUTOLOUD!
NOT!!
Psssst! Just in case you believe in conspiracy theories, Channel Nine own a large portion of carsales.com and of course if more people look at and buy cars using that website who benefits?
Amongst others, Channel Nine of course!
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