Stop Buying Crap #7 - Cars
Posted by Cap in Stop Buying Crap! on March 29, 2006 |Stop Buying Crap #1 | #2 | #3 | #4 | #5 | #6 | #7 | #8 | #9 | #10 | #11 | #12
Cars That You Can’t Afford
Please people, stop buying cars that you can’t afford.
Exhibit One:
The Infiniti G35, a pretty hot car that’s Cap N’ Crunch approved:
That’s my mommy’s car. She asked me where I was going with the cereal box and why I needed to borrow her car keys. I told her it was a secret and giggled like a girl.
The G35 is a pretty nice car. It received the 2003 Motor Trend Car of the Year award, and in my opinion it deserved it. Sure, the 2003 model pictured only has 260 hp versus recent year’s 280, but it’s still a nice ride.
Regardless, I believe the G35 was a bad purchase by my mom. I’d hate to be an ungrateful bratty son, but I honestly don’t think it was a good idea for my mom to have bought the G35. Just because she can afford the monthly payments then, doesn’t mean she can afford the car now. Unforeseen pay cut, accumulated maintenance cost made the car much less affordable for her through time.
The problem a lot of people seem to have when they’re shopping for a car, is that they don’t consider the overall cost of the vehicle. Ownership cost such as preventive maintenance and insurance can add up a bundle overtime. It’s pretty basic stuff, but it’s something a lot of people neglect. They take a look at the monthly payment, and decide that it’s “just a little bit more.”
I know way too many peers within my age group that “own” cars that they can’t afford. Whenever there’s a gas price spike, they’ll groan and complain about how much a tank of premium gas cost for their performance vehicle. I promptly roll my eyes. A guy I know from high school bought a brand new S2000, ate up the deflation value of the vehicle, and sold the car within a year—because he couldn’t afford the high-price car insurance.
Pretty ridiculous right?
How many stories have you heard where people buy cars they can’t afford, and ended up with large amounts of debt? It doesn’t matter if it’s a used car or a new car, if you can’t afford the ownership cost of a vehicle, you need to think twice before you buy that car!
Other sexy cars that you shouldn’t buy:
10 Responses to “Stop Buying Crap #7 - Cars”
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March 30th, 2006 at 7:42 am
Friend A convinces Friend B to buy a car. Friend B doesn’t think about the cost of insurance and eventually the car is repo’d. Friend A now feels horribly guilty because he didn’t advise Friend B to factor in that cost.
IIRC, it wasn’t even for that nice of a car. Crazy. Always Always Always budget for gas, repairs and insurance.
March 30th, 2006 at 1:34 pm
I am the best car in the world. Ever.
I am so durable that even after 22 years from the day I rolled off the line, I have no rust, my engine sounds like butter, and my leather seats are still plush and supple.
I am so cheap and easy to maintain, so well-engineered and thought out, even the most non-mechanically inclined pendejos can change my oil and do tranny flushes.
My engine is so well-made, it is considered the best diesel engine to ever be put into a passenger vehicle.
I am so reliable, I’m still used in Africa and Europe as a taxi - 21 years after the last of me was produced.
I am 81-85 Mercedes-Benz 300(S)D. If you are not driving me, you are wasting money.
March 31st, 2006 at 1:13 am
Do you have two of them?
The car geek in me is trying figure out the 2nd car next to it by the tiny sliver of the headlight.
March 31st, 2006 at 1:46 am
Two of them!? Refer to your own post, mister! It’s a 01 Civic, headlight was cleared. [Edit: I forgot to include the link, now I feel like an arse].
When I took the picture, I knew someone will wonder what the 2nd car is. hehe. During traffic at night, I’ll always try to figure out what car is behind me via its headlight outline.
mapgirl: ouch. repo is never fun. had to look up what IIRC meant.
max: stop spamming :P
March 31st, 2006 at 9:13 am
Sorry …
Couldn’t help myself in that spam comment. I promise I won’t anymore …
;)
[Cap: It's okay I was jk. Spam all you want.]
July 16th, 2006 at 11:47 am
Total Cost to Own is the only way to look at car ownership. http://www.edmunds.com and others. http://www.carsdirect.com will give you ballpark pricing without annoying salespeople calling you…
August 25th, 2006 at 12:58 am
My car is super crappy, a ‘92 Geo Prism w/about 227,000 miles on it. Looks decent enough (aside from some rust spots and the missing hubcap I lost on a curb back in the winter), lets me putt around my city just fine, and I own it!!! I’d love a new car, and whenever I see younger kids than me driving around nicer cars than my parents have, the green monster in me pops up. Then I remember I own my little hunk of junk on wheels and repair every so often is a lot cheaper than car payments w/high interest and high insurance costs.
August 26th, 2006 at 12:48 am
I drive the new 06 G35. It’s brand new, and I love it. The payments aren’t bad either. It’s a two door black coupe. A great driving experience. I could have done with out the $100 hike in insurance though.
April 16th, 2007 at 4:40 pm
Nobody can afford a new car, unless you enjoy a depreciation rate of 50% in the first year.
Buy your great little beauty than take it to a different dealer in 30 days for a trade in offer. You will be shocked at the depreciation of that little beauty you just had to have. Daughter did this with a custom big truck, added only 150 miles in 30 days, and was offered $14,000 LESS than she had paid the month before. What a racket.
I’m tooling around in my 1992 paid for Honda that looks okay, runs great with 235,000 plus miles, and best of all–no car payment for the past 8 years. Bought it used for a great price 11 years ago and have driven it non stop. Been saving what would equal a car payment and high insurance premium so I can pay cash for my next used car.