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.
“My Car Is Cooler Than Yours”
Having a nice car will not bring you closer to wealth
Broke people
People with money
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People who are broke surprisingly frequently drive nice cars.
Want to know why?
They value their appearance more than their bank account.
Short-term pleasure is easier to satisfy than waiting for the benefits of long-term pleasure.
When you have enough money to purchase a vehicle without creating a negative net worth or a severe reduction to your net worth, it’s finally okay to purchase that car you’ve been wanting. But before you reach this point, what is the point? To feel better about yourself or show off?
Appearances are over-hyped.
How much is in your bank account is under-hyped.
Don’t Overhype The Function Of A Car
A vehicle gets you from point A to B. Is it okay to drive in luxury? Absolutely. Especially when you can afford it. But the best route is to have a padded bank account, a positive net worth, and a nice car that isn’t adding stress to your life or keeping you in debt.
85% of Americans Have Car Payments
Most Americans (about 85%) have a car payment. A small percentage of this population can easily afford the payment, but most people struggle to make payments or are in debt because of the car.
It’s Okay To Have A Nice Car
Many people might believe and say they don’t desire a nice car, which is why they will drive their 10 to 20-year-old car to the ground. That’s okay. But in reality, most people do want a nice car.
It’s okay to desire pleasant things. The trick is how you go about obtaining the nice things you desire.
Credit Cards Kind Of Ruined Things For The Financially Inept
As soon as the credit card came into being, we no longer wanted to use lay-a-way; we desired to buy everything we wanted that the credit card companies would allow.
The same goes for financing. Now we can “make things work” to get the car we want as long as it’s not unrealistic.
It’s interesting how much financial danger we’re willing to put ourselves in for a depreciating asset that sits on wheels. Yet, we have less desire to invest in our future and pockets.
It’s okay to buy unnecessary things if we can afford to pay them off by the time the monthly billing cycle comes around, but if we can’t, it’s okay to decline and wait.
I am 90% sure of the car I want to buy, and here are the things I require myself to have in place before I make the purchase:
My net worth stays positive after the car purchase.
If necessary, I can purchase the car in cold hard cash.
I know the max amount I’m willing to spend.
I have multiple streams of income in place.
My current car has 200k mileage.
My current car is paid off.
You’re less likely to make a hasty and financially hurtful decision when you have a plan.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.