I think some people generally live beyond their means, people with millions like to live as if they have 10 times that... It's why people like Nic Cage get into financial strife even though they make millions..
Our local football stars drive these cars and they wonder when they are broke as soon as their careers end.
I know a few. It's as if the richer people are, the more they use credit lines. I don't know whether they clear it right away, but the people with the most money pretty much never use their debit cards. Always credit cards (possibly due to the rewards? I don't know - I've never asked why).
Well buying a depreciating asset cash would be one of the dumbest things you can do. Especially if there is no intent to keep it log term.
Several, just make sure all your affairs are good with SARS. You don't want to look like this chap.
www.timeslive.co.za
Some do, with a “pay balloon or give/sell the car back at prenegotiated minimum” option. This allows them to not have to waste time selling it if they decide to upgrade instead. Leases offer similar benefits, but come with weird restrictions, and red tape, and also in the former case you can negotiate for more, since you are the owner and the car may in spectacular condition (so a good choice it you hardly drive it).
I always use a credit card and pay it off at the end of the month. Some pretty good rewards cards out there, especially if you meet certain criteria.
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