This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
If I can afford to buy, should I buy?
What should you do?
To Go Big Or Go Small
First off, if you can afford to buy a 50 thousand dollar car without it negatively impacting your financial and life situations, then, by all means, go for it – especially if it’s genuinely a car you desire.
There is nothing wrong with driving on $50,000 worth of metal, machinery, and technology – if you can afford it.
If You Go Bigger…
If you decide to go big (cars with price tags over $40,000 that provide beyond what a person requires in a vehicle for general use), make sure it’s worth it to you, and you’re not simply getting caught up in the mass idea of luxurious consumption.
If You Go Smaller…
If you decide to go the modest route, ensure the car will outlast the value of the original price tag.
Neither Option Is Wrong
Whether you go with option 1 or option 2, as long as you are in superb financial standing after purchasing the car, you’re gucci.
What qualifies as good standing after a car purchase?
You don’t create debt that negatively impacts you financially.
You maintain a positive net worth.
You can afford to make the payments if you decide not to pay 100% cash.
You can easily afford the yearly maintenance of your new car.
Things to Keep In Mind If You Buy Luxury
A car has one primary function: to get you from point A to B. All of the extra bells and whistles are lovely but not usually necessary. When you purchase a car, always consider how superfluous a luxury car purchase can be.
Other things to keep in mind:
Losing expeditedvalue if you buy new.
Unforeseen scratches and dings on your car.
Overpriced maintenance.
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This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.