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@deus_ex_machina Exactly.

@32983 Sometimes there are other things to consider other than the pure finances. Having your wife drive a car that is high risk of breaking down on the road is a security threat and for that reason alone you should get rid of the shit box. Happy wife, happy life.

@alfiano No, I definitely mean budget deficit. South Africa is borrowing money so that politicians can “eat”. The effect may be small, but it is cumulative over time. Hence the slow but consistent decline of the rand. You’re over-analysing it.

@alfiano The rand keeps devaluing because the government is running a budget deficit. As long as we are spending more than we earn, the rand will keep devaluing over time. It is as simple s as that.

@pottershands Fair enough. Let me put it another way: the risk is of losing the car altogether due to having to write it off, having to finance another worn out car and his wife left being vulnerable and stuck on the side of the road.

@pottershands R7500 annualised can easily be charged if a major component like the gearbox goes, or even the cylinder head gasket goes, or an oil ring goes, necessitating an engine rebuild. Driving an old car is high risk and high stress.

@lovebug3 An old paid up car often comes with high maintenance costs and isn’t necessarily cheap to run.

@tim71 Is there any equity in the property? If there is, I would sell it, get out of the debt trap and improve your credit score before doing anything else.

@cami777 This is good advice. When I came back to SA from the UK I got around on a scooter for the first year. It was a brilliant solution until I could get on my feet here in Cape Town.

@ameedee87 Thanks for pointing that out 👍

@thecookdebra I stand corrected, yes acknowledging a debt does interrupt prescription but a demand does not.

@vincejohnson This is not true. Only making a payment interrupts prescription.