Why you'll always need a deposit

Four years back I purchased my first BMW ! You will know how important this statement is if you grew up in Manicktolla (as I did) or for that matter Hatibagan or even Hajra. Anyway it was great, and a soft top at that. I showed it off to my friends and colleagues. For the more financial minded I even showed off the personal lease plan I had managed to get.

The lease plan meant I only had to borrow the difference between the new price and the residual value of my car, and since these German marques hold their value that meant I was taking a Toyota-sized loan but driving a Bimmer. I said to my wife, an intuitive sage in matters financial, in four years my car will hold its value even better than the average. So much better that it will give me the deposit money for my next BM.

She said you are stupid. I said you are a finance illiterate. This being our usual exchange of pleasantries we moved on. And we handed in our Ford Focus as a deposit and proudly drove away a black, topless model.

Alas I wish I had been cleverer. Or only trusted my partner's evaluation of my financial acumen.