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.
What I’ve learned by not doing what everyone else does
If there is anything I’ve learned by maintaining my car for a decade, you don’t have to do what everyone else does: buy new cars they can’t afford.
People have made fun of me, and my car has some wear and tear, but it’s reliable, virtually a zero expense, and successfully gets me from point A to B.
I’ve thought about getting a new car over the years, but I told myself before I got my next car, I had to check off the following:
1. Reach 200k miles
Before I get my new vehicle, I want to ensure I’ve thoroughly used the car.
My car has so much pep in its step it could likely go for another few hundred thousand by the way it’s kept up.
Though I slightly overpaid for my car, it’s kept up over the years exceedingly well. It was a solid investment, after all.
2. Pay off my car in full
It’s common to finance a car and buy another before paying off the first. We tend to add more unnecessary debt to our lives instead of eliminating debt, which I did in three years versus six to save money.
3. Have the ability to buy my next car in cash.
Whether I finance my next car or not, I must be able to buy the car in cash.
I’m unwilling to sacrifice my positive net worth for a new car. It’s simply not worth it.
4. Spend at most 1/10 of my gross income on a new car.
Though I did not apply this rule for my first car, it’s a requirement for my second car.
According to Car and Driver, the average price for a new vehicle is about $48,000, which is some people’s yearly salary.
The average person obtains a new car after paying off their car in the six-year time frame. Many upgrade their cars every two to three years, which is not cost-efficient in any way – unless you can afford it.
If you earn $100,000 a year, the price tag of your car should be $10,000 based on Financial Sumarai’s advice.
Not only is this not standard practice, but it’s also ridiculous to some who find the minimum payments for higher-priced vehicles manageable.
However, approaching your car purchases with this aggressive mentality saves thousands, decreases financial stress, and ensures you’re not throwing away meaningful dollars on a depreciating liability.
5. Don’t have a car payment for six or more years after paying it off.
I paid my car off in three years versus six to save on interest. I knew I had slightly overpaid for my used vehicle, so I bit the bullet by making extra payments to save on interest.
One habit is to pay off your car in six years and then get a new one.
A second habit is not to pay off your car and get a new one every 2–3 years.
I decided to opt out of both of these strategies.
At the cost of many negative and questionable remarks over the years, I’ve maintained my car for a decade. Though I could get a new car, there is no pressure to move quickly.
6. Drive my car for at least a decade
I’m the type of person that wants to go against the grain. Some people drive their car for ten years or more, but most don’t.
If people can, they buy a new car. And I don’t blame them; it’s a much better look and more comfortable ride. However, I’m unsure how the finances look for people who consistently upgrade their cars.
If I upgrade my car, I only want to throw away money I don’t need. On top of that, I will always ensure I’m on track with my retirement and investing goals before investing in a non-essential purchase, so I’m not sacrificing my financial health while participating in mindless consumerism.
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.