I love the feeling of a brand new car, I remember how exited we used to be whenever a family member purchased a new car back when we were kids. It was always a wonderful experience to ride along in this new car until after some years this new car begins to develop issues and then it looked as if every money that the family makes is spent on this new car, so the car that was supposed to bring pleasure into the family begins to take all of the family’s money away.
Since we love to discuss about financial growth on this platform, I figured out it was wise to also share my ideas with you all. Now buying a car is really a good thing, I mean no one wants to spend every day of their lives jumping from one cab to another that even feels like we are wasting so much money but let me just give you a simple analysis that I also got from someone.
You get a loan with a high interest to buy a good looking car that will require maintenance on a regular basis.
I do not know about you, but the first time that I read through this statement, it left a big blow upon my heart, it got me to really think and it made me have a totally different idea about getting a loan to buy a car. I understand that there are some jobs that will require that we drive our cars, it gives us a whole sense of respect amongst our colleagues but now I know better that the smarter decisions we take, the better it would be for us and for our financial life.
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Cars are not a type of investment at all, if you are among the people who have the thought that buying a car is a form of investment, then you just have to think again because while listing the things that will bring you returns, a luxury car is not a part of it.
Everything you have read above is not to cancel your mind about getting a car rather it is to help you think of a better way to own a car.
When you want to buy a car, save up cash for that purpose instead of getting a loan for the car.
If you have to completely dust out your saving purse and everything you own just to buy a car, then you cannot afford a car just yet it is wise that you keep saving.
It feels really good to be able to afford a new good car but then if the pocket says it is not time to get a luxurious car it is better to go for a pocket friendly car and utilize the remaining money for a good investment.
Investment then Investment
Rather than buying a Car
hi dear friend @papa-mensa
your analysis is very correct a car is a very big expense I once had 2 cars and had to sell one to avoid maintenance expenses that included parking, it would seem silly but it was like that, it is better to invest the money in something productive than compare a car.
greetings