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.
The luxuries that paid cars provide
Pay off my car.
Reach at least 200,000 miles on my car.
Maintain a positive net worth with the new car purchase.
Don’t buy a new car for at least five years after paying off my car.
I became eligible, by my own standards, to buy a new car in 2022. Hitting 200k miles on the car was the one that took the longest. But I’m finally there now.
All of my requirements have been reached, but I’m still not ready to purchase a new car yet; even though I can purchase one, it doesn’t mean I need to right now just because I have the power within my hands.
The thing that gets many people is the word “can.” Because someone’s income looks good on paper, they’re bored with the car they bought a few years ago, or they received a bonus/additional income, they feel it’s alright to buy a car.
Maybe it is, but more often than not, it’s best not to buy one. Here’s why:
Most people are in debt and have a negative net worth.
Most people still don’t have an emergency fund.
Most people are behind on their investing.
Most people live paycheck-to-paycheck.
Most people don’t own their car.
Since this is the case for most people, then why f*ck up your financial situation even more by buying something that will only make you look good but, in the end, make you feel like 200 pounds heavier due to the stress it will cause?
I Can Buy A New Car Today
For those who are financially independent and have access to more disposable income, more likely than not, they can buy a new car today without compromising their financial health in any way.
Many people do this, but some people are like, “Well, I could buy a new car, but what for? The one I have now works fine. Plus, I want my next car to be 100% intentional and something I love.”
Don’t buy to buy, but also don’t buy to impress or because you’re bored.
It’s okay to be bored at times. Learn to sit in that boredom so that you can save yourself some major stacks in the process.
Remember, your money can’t work for you 24/7 if it’s tied up in a vehicle. However, your money can work for you all day if your money is tied to investments.
As much as the shiny new car and the beautiful new car smell are, the short-term benefits will not outlast the long-term consequences of the purchases. Most cars do not hold value or put you in a better financial position. If you’re in a spicy financial situation now, the last thing you need to do is buy a car.
If buying a new car is so beneficial, why am I still driving a decade-old car when I can buy a new one?
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.