921b wwgd: should we upgrade the car with our car allowances?

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Maya* and Liam* both receive car allowances through their work which they're thinking of putting towards a new car. Liam's 2015 Hilux has 280,000km on the clock and they're eyeing a new Ford Ranger. Is now the right time? Glen works through their full financial picture and shares his thoughts on what he would do.

To see if you’re on track with your super for your age, head to art.com.au and search ‘How much super should I have?'

*Names changed for privacy

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This content is for education and entertainment purposes only and is intended for Australian residents. It is not a substitute for professional financial, tax or legal advice. Any advice provided is general financial advice only, which does not take into account your objectives, financial situation or needs.You should consider whether the advice is appropriate for your circumstances before acting on it. If you choose to buy a financial product, read the relevant product disclosure statement (PDS) and target market determination (TMD), and seek personal advice from a licensed adviser. We may discuss products, services or listener questions within our content for illustration and entertainment purposes. It is impossible to provide personal advice in this format, as we don’t know your individual financial situation. We may also change the names of questioners for privacy. While we do our best to provide accurate information, we accept no responsibility for any inaccuracies. Guest opinions are theirs and their respective licence holders. SYMO Interactive Pty Ltd and Glen James are authorised representatives of MoneySherpa Pty Ltd, which holds Australian Financial Services Licence 451289. Please read our Financial Services Guide at moneypodcast.com.au.

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