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.
Can you afford to fix a cosmetic issue?
There’s nothing wrong with having any of these blemishes (minus letting a piece of your car drag on the ground), but if you just bought a new car, you should be able to afford the following:
Car maintenance.
Your rent/mortgage.
All of your living expenses.
Another car if the car is totaled.
The car payment if you lose your job.
The insurance deductible if you get in a car accident.
One should never sacrifice their standard of living for a brand new car. Trust me; it’s just not worth it. Yet, many people give in to the new car experience and, in return, back-peddle their financial progress.
Before you buy a brand new car, make sure you can afford the rest of your life with the added expenses because expenses will come – even for brand new cars.
The New Mercedes
Recently, I saw someone bring home a brand new Mercedes. About two weeks later, the whole front bumper was in ruins. The car was just hanging out with the new trashed bumper for a while. After a while, I stopped seeing the car. Not sure what they did with it, but it’s no longer around.
Another guy bought a luxury vehicle. It still had the tags on it. He totaled it.
People forget that brand new cars can still break. You’re not immune to inconvenience because you bought something new. The more familiar car accident is people opening their doors and accidentally hitting your car with it.
I’ve heard stories of people buying brand new cars and houses after getting their new job only to lose the job shortly after financing all their stuff.
It’s simply not worth it. Stay living below your means.
The Postal Workers
Back in the day, many of my father’s colleagues at the post office were ecstatic about all of the overtime they were getting. People started buying houses, cars, and things they usually wouldn’t on their regular paycheck.
Next thing you know, their boss comes in to tell everyone that the overtime is O.V.E.R. Know what happened next?
People panicked. Severely.
Many people wondered how the heck they were going to pay for all of their new expenditures. Someone told my father a word of advice: Always live off one paycheck, don’t live off the overtime; it’s not guaranteed to last.
Don’t Buy More Car Than You Can Afford
Buy what you need, and be sure you can afford the maintenance along with your current expenses after you get the car. Don’t try to figure out how to make it work after buying the car. Figure out the math first.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.