Adam Clark

However, if you want to go down that path and you're interested in buying an EV, it is the cheapest way to fund it, bar none.

It's fantastic.

I think really the key piece of advice that I would give to people in that scenario is be aware that you're in a 1% interest rate.

This is a short-term make hay while the sun shines opportunity.

Make sure you budget to be paying down aggressively and really enjoying that 1% interest rate because your repayments are going to be very cheap.

Yeah, and that's a really, really good point.

And so, yes, you're absolutely right.

We don't aggressively pay down the 1% loan because that's cheap.

We want to maximise the 1% lending while we can.

What you want to do is make sure you're being selective around where you pay down your debt.

So if you've got a 5% two-year fixed rate, if your bank allows it...

prioritize paying that off first.

And now most banks will.

Sometimes there's some break fees, there's some bits and pieces.

Worst case scenario, put some cash away into a savings account and use the ability then to pay a lump sum instead.

Where you're putting your cash flow is super, super important.

The low interest rate trap that everyone falls into is, oh, my mortgage is so cheap.

This is fantastic.

I'm going to go shopping and I'm going out for dinner and that holiday looks cool and you live the good life.

Totally, totally.