Joel reminds his sister Naomi how to avoid traps when she buys a new car. This video features Joel and Naomi Wenitong from Last Kinection.
Use the same tools as Joel and Naomi on the MoneySmart website:
(Naomi is working on her car)
Joel: Sis, I can’t believe you’re still working on this old bomb.
Naomi: Bomb! This is my first car.
Joel: Yeah, I remember when you bought it, as well as how broke it sent you!
Naomi: Well, sometimes you just gotta find things out the hard way.
Joel: I don’t know sis, locking yourself into that car loan for so many years…Think about how much money you spent on this car, money you could have saved or spent on other stuff if you had just done your homework first.
Naomi: Well you’ll be happy to know I’m done working on this baby. I’m getting a new car.
Joel: Promise me this time you’re gonna do things the right way — make sure you check out the car properly, as well as the terms of the loan, you know, get a bit money smart.
For lots of great money tips and simple guidance you can trust, check out MoneySmart, a free website from the Australian Government, or call 1300 365 957.