A car is one of the biggest purchases you’ll ever buy. A car will also likely be one of the most foolish financial decisions you’ll ever make as well. Everybody knows that cars depreciate in value and cost way more than just the monthly payments or sunk cash. You’ve got car insurance, maintenance, parking fees, tickets, and potential accidents to deal with that really start adding up.
Despite all the expenses, there’s a love affair with cars. Perhaps we like the status a car gives? Or maybe we just like the freedom to drive anywhere we want, whenever we want. Freedom, after all, is priceless.
I’ve gone through 8 cars myself during my car addiction phase right out of school. I just loved the idea of driving something new every year and negotiating a transaction. I think I enjoyed the thrill of bargaining as much as getting a new/used car itself!
At some point I realized I no longer wanted to spend time haggling over Craigslist and going to DMV hell for a couple hours to get each vehicle registered. I had better things to do with my life. Going cold turkey was difficult at first, but I’m proud to say that after 5 years, I’ve driven the same car!
RESISTING THE URGE TO SPLURGE
There are really only two things you need to do to eradicate your desire to buy a new car, or any other material item that you don’t need for that matter.
1) Name your car. Anthropomorphism is a powerful, powerful thing. As soon as you name your car, you give it a personality and a soul. With a personality and a soul, you can no longer just abuse it like a ragged doll. My truck’s name is Moose. I love Moose. He’s handsome, reliable, and very loyal. Given he’s part of the family now, I’ve decided to keep him for as long as it makes sense. At some point, I’ll realize I should sell or donate Moose since he is turning 12 years old. However, at this point, I’m happy to buy him new brakes, rotors, batteries and change his fluids.
2) Go to the dealer and intoxicate yourself. Moose’s private party retail value is about $3,600 from $8,500 five years ago. When you go to a dealer, you start appreciating what you have. Just the other day, I stopped by the Mercedes Benz dealer for fun on the way home from golf. I test drove a well-equipped $47,000 out the door 2012 C250 coupe. I loved the new car smell and the drive was exhilarating. This wasn’t even the highest end version as the C350 coupe had 100 more horsepower and cost $5,000 more. When it was time to negotiate, the salesman insulted Moose by giving him a trade in value of only $1,114! There was no way this C250 coupe was worth 45X more than my beloved Moose! I declined his pitch and left smiling.
If you aren’t convinced how silly it is buying a new car when a used car can do perfectly fine, take a look at this picture carefully. Analyze it and soak all the data in. Look at the monthly payments after a $4,000 down payment. Observe the Trade Allowance of $1,114 for Moose and the Net Sales Price of $46,497.98 after taxes. Ridiculous!
3) Visit a garage sale or throw your own. One of the most humbling experiences is de-cluttering and minimizing your things through a garage sale. That golf club you spent $120 on might only get $10 now. That purse you were dying to have for $350 now is worth only $20 bucks. The list goes on and on of things you spent way more than you should. Once you start going to garage sales or to Goodwill, you will find so many bargains that you will seldom ever spend full or sale price ever again!
If you have a spending problem, you may want to challenge yourself to some income earning games to keep your spending in check. If you are addicted to cars, shoes, handbags, watches and anything that’s not necessary, take my above two tips to heart. It’s understandable to have wants, but some of us go overboard. The tips have saved me tens of thousands of dollars and hours at the DMV.
In fact, you can take the tips and apply them to any material addiction/weakness you have. I promise you that after a while, you’ll be able to slowly reduce your frivolous spending habits and start saving and building a massive nest egg for your future.
RECOMMENDATIONS FOR SAVING MONEY
* Check for lower insurance rates. Auto insurance is the second biggest expense to owning your car. Esurance is the leading online marketplace to help you find the most affordable and reliable auto insurance. They get you comparison quotes to make sure you’re getting the best deal. You can easily purchase auto insurance straight from their website if you like what you see. It is very important that everyone gets at least basic liability car insurance. You can total your car and be fine. But if you total someone else’s car and injure them, they can go after you for ALL your assets and wipe you out! Check for a better auto insurance quote via Esurance today.
* Manage Your Finances In One Place: Get a handle on your finances by signing up with Personal Capital. They are a free online platform which aggregates all your financial accounts in one place so you can see where you can optimize. Before Personal Capital, I had to log into eight different systems to track 25+ difference accounts (brokerage, multiple banks, 401K, etc) to manage my finances. Now, I can just log into Personal Capital to see how my stock accounts are doing and when my CDs are expiring. I can also see how much I’m spending every month. Let Personal Capital track your finances so you can gain more freedom to do your own thing. Personal Capital takes less than one minute to sign up!
* Never Quit, Get Laid Off Instead. Learn how to negotiate a great severance for yourself in How to Engineer Your Layoff! By getting laid off from a job you wanted to leave anyway, you can collect a severance, health care insurance, deferred compensation, unused vacation days, and be eligible for unemployment. The book provides helpful case studies and a framework for you to have a strategic conversation with your manager on how to profitably quit your job. Can you imagine having a nice financial runway to pursue your dreams without the stress of having to make a lot of money?
Updated for 2018 and beyond.
Quite late to the party here, but I thought I should share my story. I had no problems driving the cheapest things for years: a Festiva, Izuzu pickup, Chevy Aveo. Paid them off quick. I was happy to work on them and enjoyed the novelty of a little, cheap vehicle.
Then one day my wife got a used Hyundai XG350L. It was rough, but the interior was immaculate. As I detailed it I was seduced by the leather and gadgets. I knew then when my Aveo was paid off I would get my dream vehicle: a Ford F-150 King Ranch. I bought it and immediately regretted it. Maneuvering that huge machine, the cost of gas, the feeling of being the center of attention on the road and the payments were too much. I dumped it after 4 months for a Hyundai Sonata, then 2 years later another F-150 (albeit a more practical XLT with room for 6), then a year later my Cadillac SRX. Lately I’ve felt the bug coming back and a search for an antidote sent me here.
I shall try naming the Cadillac. Seriously everyone, thanks for sharing & I’m relieved to see others have the same problem, although I hate to know others suffer the same! Best wishes!
One way I found that clam my craving for a different car is to test drive the car you crave, but in aged used condition. I really wanted a new Volvo XC90 and able to afford one, so why not? I was in love with the look, mesmerized by the shinny object. To test how this shinny thing holds, I tried on same XC90, but an 8-yr old 2012 XC90. I wanted to see how it felt like when XC90 ages old. It turned out the old XC90 was just as deteriorated and boring as my 2003 Honda Pilot, nothing shinny, no excitement. The new shinny, eye-catching car ages just any other cars, it doesn’t last. This reality check really pacified my mind and I no longer wanted that car again. I do still want a new car from time to time (thats why I saw this post) but reminding myself about the test drive of the aged car really helps.
Im 27 and I’m currently at my 20th car. 17 of them in the past 3 years.
I’ve lost my mother when I was 12 and Inherited I wouldnt say a lot of money but a good amount.
My first car was a car my dad sold to me, a 2000-ish Renault Laguna 2 (Cant even remember the year of the model). I didn’t care AT ALL about cars back then. I kept it for almost 3 years until I moved to another country for a year. When I came back I bought a 2000-ish (Same thing cant remember the year) Alfa Romeo 147 for about 4000 euros. It was in my budget, I wanted something nicer since it was the first car I actually chose for myself. As I said I inherited a lot of money and I grew up never having to worry about it so after I while I was like “hey I really like this 147 what if I bought a brand new Mito that I’ll keep for a long time? I can afford it!”
So that’s what I did, after 6 months of owning the 147 I went and bought a Mito with only 12k kilometers on it. I liked it barely a little more than the other one.
I kept this one for 6 months until I decided to move to Canada, where I was studying before.
When I arrived there I “realised” everything was cheap here compared to europe. I was telling myself buying that 1988 Iroc Z I always dreamed of was indeed, 8k Canadian Dollars, “But its only 5k euros its so cheap!”. Yeah right…
Then I sold it, bought a 944 Turbo for around the same price, sold it because I missed the Camaro, bought another Iroc Z, painted it, replaced the engine, sold it and lost 10k on it.
Then I “needed” a daily driver when winter arrived so the same thing happened both for the summer car and the winter car. Eventually it lead me to keep some cars for just a few days.
Eventually I ran out of money. Completely out of it. Because all this time I didn’t have a job for a single day, I’ve always been a student living on what I inherited.
Since I’ve met my girlfriend 2 years ago I’ve tried to control myself, I finally got out of school, found a job as a mechanic. I sold my favourite car of them all, my Crown Victoria (P71) that was in MINT condition, Sally. I sold it because I wanted to be responsible and get something with better gas mileage. I bought a 2007 Focus ST ZX4. If was fun, but very unreliable and terrible in the snow compared to the LSD Crown Vic… So after a few months I bought a ZR2 GMC Jimmy. Perfect for Canadian winter! But then I was like “ugh its terrible on gas!” So I bought a 2005 Impreza base model. It was actually very nice and I got it for 1k dollars so it was really fine. It needed a few fixes but being a Subaru mechanic nothing too scary.
Then one day when I was bored I was checking used cars online, and saw that old rusty and crappy 02 WRX with a blown transmission at 1000$. I thought “Hey I could fix it for very cheap!” So I went and bought it for only 700$. I’ve put a transmission in it, and then I saw all the issues it had when driving it. I don’t know why I bought it, I wanted to make a good deal even if I had a perfectly good car in my hands but noooooooo I had to get this one because its a turbo and stuff.
Eventually I got tired of dealing with it and not knowing if it would survive until I get to work in the morning. I sold it yersteday, and bought another Crown Victoria for 1200$. Why? It’s the only car I’ve loved that much. I actually cried when I sold it. I know that all this time I wasn’t satisfied with what I had, tried to make “the right decision”, convincing myself and trying to convince my girlfriend. But the “need” of something different with better gas mileage, better traction, better reliability, better look, better anything, that need never goes away.
The Crown Vic is actually my dream car. Doesn’t make sense to most people but it does to me.
Hopefully this time it’s the last time. I know right now I dont ever want to deal with changing cars again. So for me this is the best way to get rid of my addiction.
Since yersteday, when I bought this car, I want to make it last. I want to fulfill my promise to stop doing all that stupid stuff. I want my girlfriend to trust me, and I want to be able to trust myself. If I get “an itch” again, I will talk to her, instead of keeping it to myself for weeks, and ultimately get a new car without even telling her.
And I’m thankful because if it wasn’t for her, I would be in a way worse situation right now.
Moral of the story, if you have a car you love and it runs fine, keep it. It’s part of the family. Keep it until it dies because that new shiny toy over there is just a distraction.
Hey guys, so after returning from my military deployment in January of 2017, I purchased a brand new f150. (Dumb idea) Traded in a great running paid for 2008 GMC Sierra 1500. However recently I used the equity from the from the new f150 to purchase an old but restored 2001 Dodge Dakota outright. Debt free now! I guess I enjoy having a paid off vehicle after all. Until the Dakota requires 475$ worth of maintenance a month.. it’s paying for itself until I can pay cash for my next car in a few years! I’ve owned a few cars over the years (age 28) but nothing serious. Just get to own a car that’s paid off then go from there!
I have a slightly different problem. I want more cars. I dont want to sell my old ones. I wish i could buy back the ones I have already sold. At the moment I have 4 and want another one. They are not super expensive ones, but there is a cost of ownership of course. Its not even that I am looking to buy something that I cannot afford. Each one of the cars I own offers something unique and I smile every time I drive each one of them. But I want another one and I cannot justify it to myself and more importantly to my wife. I love her to bits but cant get why I keep wanting more. To be honest I dont know either.
But i know how it makes me feel. Driving makes me feel relaxed, it makes me forget about anything else in the world. Looking for a car and checking out the details and investigating about it lets me not think about anything else.
But i want this feeling to stop, its come to a point where my wife is threatening to leave me if i buy another car. I know its a problem I have and I know it makes her upset, but it is not a financial strain till now but i fear it will be and of course I dont want to upset the woman i love more than anything in the world. I just want this feeling to stop. I want to be stop being obsessed with cars, with car toys, with anything at all. In the pursuit of finding peace, i fear I am taking myself and my loved ones far away from it. I am turning into a person I dont want to be and doing the things I dont want to do.
I think i do need help but am scared to ask for it, maybe no one understands, maybe I am just sad right now and it will be fine later. Even as I write this, all I want to do is go for a drive, to where, I do not know, to do what, I do not know, just drive…but will that make me happy?
I had the same problem of car addiction and addiction to material things in general. It was a constant obsesson for the next thing and after a short while I would be looking for the next thing. The way I have managed to stop this, no that somedays I need to fight the obsession, is I realized it is not the material things that matter. It is relationships, especially your inner circle, your Partner and children. The fruits of this are vastly more rewarding, when you put your passion into taking them on vacation and just spending quality time with them and putting their needs first. I was lucky to meet a woman who pointed this out to me. I moved away from my home and into her area and I ruthlessly sold and gave away to charity what I couldn’t sell quickly and made my material footprint as small as just the things I needed like my tools and other things a guy needs to fix things and live. i sold my Raptor and got a family vehicle. it took me a long time to get over the change but the more time I spent putting my passion into the relationship including the new kids in my life, the more I realized how unimportant cars and non ‘needed’ but ‘wanted’ things are not important.
The next part may sound cliche but putting all ego aside, Together with the above, it helped me so much I feel the need to share:
Dealing with the death of my Ex, lead me to research what life is all about and where do we go when we pass. i listened to a lot of Christian radio and researched a lot. This lead me to being a Christian.
A journey my new partner shares. We were lucky enough to be wanting the same thing Yes I still sin like everyone else but the fact that you believe that ……
God gave his only Son Jesus, who died on the cross for us to pay for all our sins, that he who believes in him will have everlasting life. ……..
This in itself is a life changer and puts your life on an entirely different playing field. This and joining and getting involved and doing bible studies at the church have all helped me fight my addiction and put my passion and energy into the things that really count. the people around me and trying to be a good Christian.
I wish you all blessings with being able to fight your addiction as I do, my Brothers and Sisters
Farhaan Ghani says
I’m only 21 and I’m on my ninth car in two years. Four of them were the same type, including the one I have now, the Morris Minor. They all had names, It all started when I went to buy my first one, a blue Morris Minor two door. It was pretty rotten when I bought it and paid over the odds for it. Then I spent a fortune having it welded and resprayed. When I was talking to members of the Morris Minor club some of them said my car’s registration wasn’t right for its age. I didn’t understand what that meant at first but later realised it had been ringed. I was pretty confused and started to get depressed. What was supposed to be a moment to remember turned out to be one big mistake. I had used my student loan to pay for all of this, and when my next loan came in the year after when I started uni I went and bought another one, this time it was grey, and I spent more money doing it up. I once bought a spares car thinking it would be useful for parts but left it outside my house for a full year before scrapping it for nothing. Last year I went all the way down to England from Scotland to buy an estate version of the Minor which I recklessly bidded on in an Ebay auction and ended up winning by accident. I never got it onto the road. After a LOT of negotiation I traded that one for the car I have now, a nice, rare, early 1954 Split screen model in green called Garfield, which is truly worth keeping.
I think I’ve come to realise how big my problem with buying cars actually is. I’ve only owned this one for a month and yet I’m still looking at Ebay every day hoping to strike gold again just buy the same type of car!! I’ve had to promise myself over and over that this one WILL be the last car I buy, and I have to stick to it for as long as it will possibly hold out. I think this only happened because so many things went wrong when buying my first car, which I no longer have, and I was trying to replay that experience in my head of buying a car and finding freedom which is partly the reason I stuck with the same model, though there were others in between.
Mate, I like your idea of naming my car.
Car Nut says
I am 44 yrs old and have had 30 vehicles so far. A number are low production, odd vehicles that people may not realize were made. Why do I do this? I’m not entirely sure. I fall in love with the next vehicle and I can’t think about anything else until I get that next car. Why I want it does not matter, but for whatever reason I decided that I must have it. It will be the best, it will make me happy, it will be the car I will keep forever, it will replace what I lack in the relationship with my wife, it will fill some void in me that I guess I don’t know about. But no matter what it is, I seem to get drunk in the lust for that next car/truck. The intoxication takes over and I can no longer think logic, I only think lust. Often times I think it’s related to my relationship with my wife. We are not romantic, she shows little to no affection and we generally don’t have a text book good relationship (if one exists?). So rather than cheat, I think that I may be subconsciously trying to fill an emotional void with that next vehicle. When it does not actually solve the issue, my mind goes wild searching for that vehicle that actually will satisfy me. A divorce lawyer would likely be cheaper, but I made a promise and I am sticking to it. Anyways, I actually do love vehicles, so it’s not like it is a bad or unhappy addiction. I spend most of my free time with my vehicles, detailing them and maintaining them. I like my toys to look perfect.
1971 Chevy Chevelle Malibu (Still have, 28 years later)
1976 Honda CVCC (Civic)
1979 Pontiac Grand Prix (HotRod – 455 Olds W30)
1979 Buick Lesaber
1985 Toyota Pickup 2WD
1986 Chevy Monte Carlo LS (HotRod – 383ci)
1987 Ford Bronco II 4×4 (Lifted)
1988 Dodge Caravan
1988 Suzuki Samurai (Lifted)
1994 Dodge Caravan
1995 GMC G2500 Mark III Conversion Van
1995 Toyota Pickup Truck 4×4
1995 Honda Civic EX
1999 Suzuki Grand Vitara 4×4
2000 Toyota Corolla
2000 Ford Excursion 4×4 7.3L PSD (Lifted)
2001 Nissan Frontier 4×4, Manual Trans, Supercharged V-6
2001 Lincoln Continental
2004 Honda Civic LX
2004 Chevy S-10 Blazer 4-Door
2004 Pontiac Grand Prix GT
2005 Dodge Ram 2500 Cummins (HotRod, Lifted, 590HP)
2006 Mazda MazdaSpeed6 Turbo (Import 4WD, 6-Speed Manual, Modded)
2006 Hummer H3 4×4 Base (Lifted)
2007 Hummer H3 4×4 Adventure (Lifted
2011 Chevy Malibu 1LT
2012 Chevy Cruze 1LT/RS
2012 Chevy Camaro 2SS/RS Transformers 3 Special Edition
2013 Chevy Malibu 2SA Eco
2014 Jeep Wrangler 4×4 Willys Wheeler Edition
2016 Jeep Cherokee 4×4 Trailhawk
Wow thanks for sharing the details of all of your car purchases. That certainly is a lot over the years but it sounds like you’ve really treasured each of them. Sorry to hear about the situation with your wife. I think what you’re describing is something a lot of people in similar relationships can relate to. Just be careful not to overspend on more purchases to try and fill the void you’re feeling. It’s not worth jeopardizing your finances or retirement. Best of luck.
Wow I know so many of your stories so well they seem to be my own, and to actually here someone else talk about how they justify why they need to get a new car. I have so done the economical one, also the one about how this is the last one so I need to make sure it will last, I also argued to myself that I needed a jeep so I could drive in the woods which I never have time for. I did trade in the jeep and got a new civic si but now I am wondering why at age 42 did I buy a dam civic. I do get pretty good mpg and it is a kick to drive. I hate to know there are people out there with the same problem but It is also comforting knowing that I am not alone with this issue. Ps Jeep Wrangler= poor workmanship, focus st awful wheel hop and the seats are uncomfortable. Still want to drive a gti.
Crazy! I actually like Jeeps and have owned four…including two Rubicons. Right now, I drive an Xterra…which I think is a bit of a dog, but I do like off-roading here in Arizona (and Colorado). Just sold my 2001 Porsche Boxster. It was awesome! Right now, I am looking for something more reliable and practical. Just today, I went looking at the new Honda Civic Si’s and the base Nissan 370Z. I would have bought the Z, but it already had 50 miles on it…and you know how test drives are. :/ So…do you like your Si?
I am angry that I sold my impeccable 2004 VW GLI (with the VR6) for pennies. Best car I ever owned…even more so that my 2004 R32. I like the new GTI’s, but don’t like turbos.
I am still toying with dumping all my car toys and buying a Porsche Carrera…but even those are so pricey to find a post-2009 one. …or I might wait for the 2016 Miata to come out. Who knows?
I am 50 years old, and i have bought 50 vehicles. All but 10 of them have been brand new. I have not once experienced remorse from any of them. I love vehicles so much that I know I will never be able to stop buying.
The way I look at it, i could be addicted to worse things in life, and really how could my vehicle addiction be harmfull?
If you love vehicles and can afford them, go for it. This world is full of reasons to become a drug addict or worse and if vehicles give you peace and love, and the freedom you deserve in this short life, do it.
There is only 2 things in this life that give me pleasure. My vehicles and my dog. Everything else can go you know where. Who has the right to say being addicted to vehicles is bad? Or its a bad investment? There is only one thing on this planet thats a great investment……YOU.
I like your attitude. Sounds exactly like me. Don’t drink. Don’t smoke. Don’t travel. Barely date. I’m 50 years old and have owned around 50 vehicles (32 cars and 19 motorcycles). I do like guns, too.
My miserly parents drive 15-20 year old cars. I think it’s a self-hate/self-pity thing that doesn’t work for me.
38yrs old and 32 vehicles between my wife and i. Nobody is hurting for anything and all is taken care of. When it begins to affect everything around me then it becomes and issue and i’ll have to stop….otherwise, to each is own. I strongly agree with you.
Wow…other crazy car addicts like myself! In the past 30 years of driving, I’ve owned 31 cars and 19 motorcycles (and probably 20 bicycles)! Most of the cars and bikes were used, but once I found that I could start making payments (around 30 years old)…then the sky was the limit. My problem is that I like fine quality sporty cars, but also like 4WD vehicles as I live in Colorado, New Mexico and Arizona. Being “outdoorsy” is always been my image.
I’m a single guy approaching 50, but have very few obligations. My biggest problem now is that I’m becoming more of an itinerate worker and moving 3-4 vehicles every year when I move is a PITA!
So…do I keep my big burly 4WD vehicle that gets 18 mpg or my little German car that is a joy to drive and gets upper 20s? I compare the 4WD vehicle to a mountain bike and my car to a road bike. Sure, a mtn bike will go everywhere a road bike will…but a road bike is laughably faster on the road.
I also have other addictions including firearms, guitars, rock collecting, etc. Hmmmm…
Hey Ed. Yeah, it is a bit crazy, I guess compulsive buying is our drug of choice. I think I have bought around 70 new/used in 34 years out of driving. In reality, BIG waste of money. I have a friend who has multiple vehicles and is an overall collector of various things. I have tried to get into the handgun thing to avoid the car buying, a little cheaper in the long run. Hope you get it under control. However, if you pay your bills, have savings and retirement and it sounds like you have no children, then what the heck. You could have far worse issues, at least these items a within the bounds of the law. Good luck in whatever you do. JFP.
Thanks for your understanding! 🙂 I cannot believe that you have had over TWICE the number of cars that I have had. CRAZY! My parents are totally the opposite. My mother drives an 18 year old Honda despite being quite wealthy. Same with my father. Both are close to the end of their lives and won’t change. Maybe, they’ll have a nice car in the afterlife….eh?
The fact that most cars are losing their appeal (lack of manual transmissions and non-four cylinder engines) makes me keep what I have longer. Even “lower end” BMWs & Audis now have automatic transmissions with turbo fours. Boring! Unless, I’m willing to spend a lot of $$$…I’m stuck with what I have.
Currently, I own a 2003 VW Jetta VR6, a 2013 NIssan Xterra (Off-Road), and a 2010 Kawasaki Z1000. How about you?
Financial Samurai says
I came up with the Net Worth Rule For Car Buying to help curb your addictions.
Check it out!
John, I appreciate your comments and efforts. And I think they are great ideas. I think I would tweak your wording some, as I don’t think you’re really advocating replacing one addiction for another. That’s really not all that healthy in it’s own right. If I stopped surfing porn for hours and now surf for cars, I’m really just shifting to another unhealthy endeavor taking up all my time.
But sounds like you’re suggesting channeling the energy in another direction. And I think that’s a good idea. My addiction to cars flares up when I’m bored and don’t have that “spark” in my life. For me that’s distance running and I’ve been injured for 6 weeks so I’m restless. And let’s face it, I also like cars. But I’m still driving Mirkie the Milan and enjoying the freedom of having $$$ in the bank.
Thanks again, John.
Hello again and thank you for all of you who read me and gave your valuable opinion. (Im the “Civic” guy)
Im probably not a car-addict but the only real difference between a car-addict and me is a matter of quantity. We all have strong desires that might seem impossible to handle and that seem to conquer us.
I had a close relative who went into the drug abuse path. On therapy we all learned that we all people have desires and weaknesses but some handle it some way and some other handle it in different way.
The make a long story short, I can say this: a good first step is to change your addiction to another one. If your addiction is to buy a new car as soon as you already bought one, then, consider buying something as a surrogate for a new car.
Ok, this gonna sound silly or ridiculous, but it helps, believe me. Lets say you are craving for that Mustang. Just for today buy a Mustang… but a scale model, or something associated to that real thing Mustang car you so much crave for. It may be a big poster or something, whatever acts as a surrogate, a substitute for the real thing.
My close relative went replacing hard drugs for tobacco, then coffee, then candies, then fruits and so on.
This was not the only action he took, of course, but it helped to control the anxiety at this very moment. What Im suggesting is get something right now that helps you calm down anxiety right now. This is by no means a solution, but it helps to survive another day, just another day. At the same time work on developing other interests.
There was a time in my past that I used to buy and collect so many HO scale model slot cars. I still have my collection (now it is over 70 HO scale model slot cars). As a matter of fact, I remember some guy on the net, whose website is all about scale model cars, who started saying something like this “You love cars and you would love to have them all… But you are not a multimillionaire? Well, in that case, scale model cars may better suit your budget and time…” I can’t remember his exact words but such was the idea
Substitute one addiction for another and then another and then another until you don’t need any addiction because in the meantime you developed interest in some other areas of your life.
I just want to help you out, people, we are all the same regardless of our problems we are all humans and we need each other.
I have lived with a relative who had drug problems and I learned something very important: we are no different, we are all the same, but it’s a matter of how much and how long we go into one path.
I praise you who are doing something to overcome this, Im sure you will succeed!!
I can relate with so many on this site. Pete your ideas about not looking at car websites and magazines are outstanding pieces of advice.
I’ve had 16 cars in 11yrs. Lately I’ve been keeping them longer but around the 1yr mark, I get the itch for something else. I have a really nice ’10 Mercury Milan I bought used for cash which runs great and looks great but sure enough, I test drove a ’14 Mustang GT and now I’m soooo tempted to pull the trigger on one due the addictive power and sound.
But I’d have to cough up my car and probably another $20K cash to do it. And like others have said, as much as I try to resist it, the urge keeps coming back and the only final solution to put out the fire is to do the deal. I too love the high of buying new or used cars, negotiating…etc.
And I always think…..OK, this is it. This will be the one I keep. But if got the ‘Stang maybe I’d love it but would probably start bitching about the gas mileage or miss my smooth ride of the Milan and want to sell it. I mean do I REALLY have any credibility having bought 16 cars in 11 years….that I’m going to actually hold on to one?
But still that part of me says…….Oh go ahead…..get that car you REALLY want. If you had done this earlier, you’d probably have not bought so many cars…..I know that’s BS though as you get used to something, you crave the next high.
I’m going to be 44, single and no kids. My job pays pretty well and I have $150K in savings. But I’d probably have closer to $190K if hadn’t bought and sold so many cars. Plus just b/c I have the $$, doesn’t mean I should spend it.
Back to Pete’s advice. It makes so much sense. If you’re trying to lose weight and have a healthier lifestyle, would you browse donut shop websites all day? And read/look at pictures of desserts in magazines? Of course you wouldn’t. As this would put you in a constant state of temptation. But I do it all the time with car sites and mags. What do I expect….at a minimum that stuff should be excluded from my participation.
Going to try really hard and resist the Mustang. Even though part of me thinks I should buy a fun car and be done with it…..but that’s my sickness speaking. This is a want and not a need. And obsessing about a thing….is never healthy.
Anyway I feel for everyone on this site with a car buying addiction and wish you well. I for one will not be visiting car forums, dealer sites or reading car mags as like Pete said….it’s a cold beer for an alcoholic.
Don’t sweat it. A Civic is still a “worry-free” car in its own right. Not too fancy and blends in.
Hey guys, Im happy I found this thread!
Im probably not much of a car-addicted guy, but recently I have made a car purchase that was mostly an unnecessary waste of money and started to feel buyer’s remorse.
Ok, first, a bit about me, Im 38 years old, currently single boy. Im currently working as Im an engineer and my income is neither good nor bad, it is sufficient for me alone and I lack nothing important.
Ok, my first car was in college years but that was actually a clunker that my dad gave to my brother and me for free when he ditched it. So my brother and I shared it. It was a Dodge Dart 1978. It was an unreliable car that let me stranded many times, and twice with two different girls. One of them was the girl of my dreams at that time. Lucky that girl was a reasonable woman and she reacted accordingly. Ok, that was so embarrassing because you really want your beloved lady to have a good time and you want to give her the best. But the clunker failed to me and I failed to her.
Then I didn’t have a car until I was 30 that my income allowed me to buy and maintain a car, hence, in 2005 I bought used from my mom her Chevrolet Cavalier 2000. This has been an overall good, car. With time, it needed some fixing. In the period of these 8 years I invested no small money on it (new clutch, four struts, four tires, two front ball bearings, replaced two gears in the gearbox, replaced engine mounts, air-heating radiator, replaced twice the water pump, refurbished the alternator, re-painted it, refurbished some interiors (seats and ceiling) and now the Cavalier runs great. I wanted to keep it in top shape and reliable, didn’t want another unreliable clunker like the old Dart.
It has a name, a previous girlfriend named it “Cloud” because it is white as a cloud and runs smooth as if you are floating on air. Well, kind of, but really it feels great.
Ok, a few weeks ago I bought a 2010 Civic Coupe. I had been watching for Civics for more than three years as I like them so much and I have read excellent reviews about its reliability and durability.
At first I wanted to keep my Cavalier until 2015.
But I felt an urge to replace it with the Civic. I wasn’t able to resist it any longer and, having saved enough money, I just couldn’t resist and bought it.
But to be honest, it was an unnecessary waste of money.
The Civic is absolutely great car but I don’t need it as my old “Cloud” was doing the job quite fine.
A friend of mine told me “girls are gonna chase after you with this newer coupe as it is vivid red and women love anything that is vivid red color”
The truth is that I realize this purchase was only about a thing that I want but don’t need.
I had never before in my life wasted so much money in just a want.
This used Civic coupe has about 5,500 miles and cost me US$14,400.00 which is a good deal of money that heavily impacted my bank account (I paid with cash) and it will take me a couple of years to recover.
So I don’t know why but I feel it was worthless.
Not that the car is worthless, not at all!!
The car itself is such a great piece of engineering and it is a lovely car.
But you know, it was just a want, pure desire.
I can’t believe I did it.
Now, I sold my old “Cloud” to a close friend and he is so happy about it.
Sometimes I feel envy and want my “Cloud” back because I invested a good deal of time and passion fixing it and keeping it in good shape.
On the other hand, this Civic is perfect, it needs nothing, it is already perfect, the previous owner was a car lover and kept it in excellent shape so I don’t need to do anything to it. This is good, but now it doesn’t feel as mine.
Something is yours when you shape it your way, when you add your own personality to it.
That’s why it was so hard to sell my “Cloud”, it was like losing a part of me.
Happy a good friend has it.
Now, my Civic is great but insurance is a lot more expensive and when time comes to replace tires they are gonna be more expensive because big alloy rims. Also, as it is perfect, now I stress about getting a scratch or hitting the sidewalk with the alloy rims causing irreversible damage to these alloy rims,e tc, etc Also, it is a bit sporty so it brings some eyes into it as it is a bit flashy. I don’t like that.
You know, before you buy a newer shinny car, think it twice.
It will add a lot of stress to your life!!!
My old beloved “Cloud” gave me a LOT of piece of mind.
Nobody wants to steal it.
If it gets another scratch, so what?
I could drive/park with it into ugly neighborhoods and no problem.
It was doing the job taking me from point A to point B
So, guys, reflect upon this.
Newer, fancier stuff only adds stress to your life.
Unless you are millionaire, fancy stuff only hurts you
Im no millionaire and I really feel this Civic is way above my level!!
This causes stress.
I wanted something newer, something fancier, something more reliable
I lost confidence in my old car
Lately, each time I drove Cloud I felt a bit unhappy like “oh, its getting older and older”
“oh, it is just an average car, no fun”
I felt the urge of buying a newer car… and I did exactly that
Im currently no more happy than what I was before
Actually, I was happier before because I did not stress
I hope you take advice from this experience
So far I will keep it for at least 15 years now on
John: Thanks for the post. However, you are 38 years old and this is your third car in your life? Don’t stress over it, drive the car until it dies. This site is really about addictive car buying, no one here would think you have a problem with buying and keeping cars. I do get the sense your are a bit obsessive in general though. Keep the car and enjoy it, nothing wrong for owning a newer, more reliable and safer car. Good luck with the car.
Financial Samurai says
I agree. Not worth the stress at 38 with 3rd car. I was on my 9th car by 30!
I’m 38…owned 32 cars…..i don’t think i’m an addict as much as i just like cars. My liking cars doesn’t hurt me or anything attached to me. Wife or Kids. Some would argue i’m wrong and maybe they’re right….when it affects me and others attached to me, it wouldn’t be hard for me to stop. My family is the most important thing to me.
Compared to me…there’s no way someone would argue you’re an addict…LOOOL
Pete Richardson says
I had it bad until recently. Over a 15 year period I went through 21 cars, and it would have been more if it wasn’t for my wife getting increasingly bitchy about it. Not that I blame her.
I was up to car number 20 before I realised I had a problem, then the last one I had to change so we could get a tow car. After decent psychological help, I’m now a recovering addict. 14.8 months since I last changed and counting. No intention of changing now either.
I’ve wasted countless thousands by changing perfectly good cars only a few months (or in a couple of cases, weeks) after buying them. No more.
Good for you on moving past your addiction! Keep it up!
Hey Pete: Sounds like you got counseling for the problem of car addiction. If I may ask, what was the underlying driver for all of this behavior? I am in the same situation and have purchased more then 3 times as many cars as you over the last 33 years. Thanks, and good that you sought help.
Pete Richardson says
Thanks Sydney. 🙂
JFP, my biggest problem has been (and still is really) social anxiety. Researching cars & looking for them was always good, distracting fun, and then I enjoyed bantering with the salesmen and making the deal – which is ironic given my problem. There was always a big buzz from that, so I felt better about myself. Of course, the effect didn’t last for long, so I’d soon go looking again..
I think that’s another way of saying the lack of social contact (and lack of assertiveness in general) that caused my depression and it’s the depression that led to buying one car after another. It seemed like it was the only problem I could ever solve in my life. Fuel economy rubbish? No problem, buy a more efficient car. Car too small? No problem, buy a bigger one. Loan payment too much? No problem, buy an old banger. Car unreliable? No problem, buy a newer one. And so it went on. Always avoiding the real, underlying problems in my life.
Funny thing is that I’d always be certain that every car I’d bought would be the “keeper”. Even a week or two before I’d sell up on a whim, I’d be convinced that I was keeping it, spending money on maintenance or customisation, and then I got the urge to sell and couldn’t think of anything else until I’d done it. The ridiculous rationalisation that I’d go through to justify to myself and wife become ever more far fetched, until I got to the point of contemplating deliberately crashing my car… Crazy stuff. Thankfully, I stopped before I went that far.
I see similar behaviours in close family too, only in their lives it appears as changing job or house regularly, instead of the car.
Two positive steps I’ve taken to try and kick this habit:
– 1 – don’t ever look at car magazines or websites. It’s like holding a cold beer in your hand if you’re an alcoholic.
– 2 – try naming your ride and developing a personality for it, as suggested here. It seems silly at first, but who knows. it might just work?
And if all else fails and you do succumb to the dreaded deal, spend as little as possible. At least then you can keep control of the amount lost if nothing else. I think the 1/10 of income rule on this site is a great idea. I would’ve saved at least 10-15 thou if I’d followed that.
Good luck JFP. My thoughts are with you buddy.
Thanks Pete, I appreciate the candidness. I too, have gone through some of the mental rationalization that you point out in your own experience. I can kick myself when I start to add up how much I have wasted on these purchases. Good luck to you as well.
Steve-it’s tough, I know. I try to let the ‘money’ stop me. it’s really never been an issue-i’m lucky-I’ve got a pretty good, fairly well-paying job. but once I turned 40-despite everything in savings-there’s no doubt I’ve lost ten’s of thousands on all the trade ins, etc. I think it also helped to narrow down to a car I really ‘want’-that few others can fill (for me, red, 6spd, fast, etc). IF I were to get another-for what purpose? economy? maybe. but style-i’d have to move up to a corvette or Porsche-can’t justify it now. I like the car-it’s hot-chicks dig it-and I keep putting extra principle payments on it. it’s the first performance car I put new tires on (normally I would just trade out the whole car when due). TRY to find an alternative high (but i’m preaching to the choir I know-i’m the same). ultimately-the only thing that seemed to work for me (and keep in mind i’m only a year into this car-that’s nothing, I know)-is trying to justify getting something else. it would cost about the same. I’ve already invested in this car (yet ANOTHER car w/top-of-the-line tinting, now tires, etc). it’s hot-chicks dig it-and I love driving it. at 40-it’s really important for me to save as much as possible-more so than before. even WITH a kick-@$$ job. and even if we had a ‘money is no object’ job-we’re still just chasing the high-of searching, looking, negotiating. I think you’re in good company here man. write it out if you’re floundering-just admitting we’ve got this…’thing’ I think is a help! and EVERYONE here is in the same boat! good luck. stay strong. invest in the car a bit-maybe that will help keep you from flipping it. -jb, tampa, fl.
Guys. I have brought/traded approx 40 vehicles in the past 10 years. I love the thrill of the hunt and the bartering on Craigslist. It’s a high like no other. Any suggestions on how to stop.
Go to a counselor. If others suffer for what you do then its an issue…..but if you can afford it, you spend your money on what you want. That’s what I think.
I have a big of a problem myself. I currently own 3 cars, as I’ve been buying 1 a year over the last 3 years. I suppose I do have an addiction of sorts – I love reading about new vehicles, test driving new vehicles, and I always want to have the latest.
The worst part is I purchased all three vehicles brand new and paid between 30k-75k. The 75k vehicle is now worth approximately 45-50k, so that’s money I’ll never get back. I only need one car and really want to downsize to one vehicle and just accept the loss + stop paying so much for insurance. I think I will have to just sell them privately and try to get the best money I can out of each one.
I know this kind of sneaks up on us Andrew. And I’ve always been the same-wanting the newest-the latest and greatest. I think selling off 2 of the 3-especially privately-to get the most money back-is a great idea. And like you said-the insurance will drop then too. I think this forum is VERY helpful-b/c we’re all kind of in the same boat. Let us know how you make out. Good luck man! -Jason
Thanks Jason! How time flies. Two steps forward, one back. I traded-in the sports car for a practical car and sold off the third car. I’m at two, but now working on some minor fixes to one of the vehicles I had modified with plans to sell it off. Insurance is far lower though at least.
Glad to hear it Andrew! And 2 steps forward-1 back, well-at least it’s some progress! Even if it’s slow-we can (all) use all the help we get! Sounds like you’re on the right track! And knock on wood-we’ll both stay ‘on the wagon’! 🙂 -Jason
This is just the thread I needed to find. I’ve recently been fighting the urge to buy my 16th vehicle. I never thought I had a “problem”, I just figured I was a car guy. I’m turning 30 next week and it’s had me taking a look at myself a little deeper. Now I’m thinking WOW, I do have a problem. But even as I read this I know I still have the urge to buy a new car. Well I’m still I’m my 20’s for another week, I guess there’s enough time to make one more poor decision and blame it on being young….right?
Don’t start your 30’s on the wrong foot, especially if you’re already recognizing that you have a car buying problem. Save your money and put it towards getting your finances in shape first!
Mike-I KNOW it’s tempting-VERY, VERY tempting…but 20’s to 30’s goes to 40’s before you know it. At 40 now myself-I was JUST telling my friend last night-if I had KEPT the 350z or the ’05 Mustang GT or the Honda S2000, or-ANY of the others…they would have been paid off by now…and now-at 40-while I still have savings-and while my job security is very tenuous right now…I can’t HELP but think I just blew thousands-and thousands-on these trade ins over the years. You’re in good company here…TRY (and I have to remind myself too!) to think of ‘mode of transportation’…it’s hard-hang in there man. -JB
Yes, I have wasted thousands of dollars. Get control, or it will get worse. I have a family and younger kids, I could have at least have saved a substantial amount towards college for one of my kids. I have been driving over 30 yrears, so I am in my late 40’s.
Financial Samurai says
The one thing I remember though in 2009 is thinking… at least I didn’t dump my car spending into the stock market!
Financial Samurai says
Eh… 16th vehicle, yikes! Doesn’t the DMV hell get old after a while?
It did for me, that’s why I stopped at 8.
Yeah, DMV, insurance company, and county registration, friends, family, neighbors, and CAR DEALER STAFF – very embarrassing!
Edward Antrobus says
The only reason I don’t still have my 1991 Camry, which I bought 4th-hand in 2003: I completely destroyed it in a minor accident. I had planned on taking that car to 300,000 miles, which I figured I was about 3 years from.
I’m on my 4th car in 14 years of driving, although I only got my current one last year and only had my first one for 10 months before I discovered that 30 year old Beatles don’t stand up so well against telephone polls at 50mph!
My car names have been rather unimaginative. The Camry was “Red Rover” The silver Corolla had a name not quite fit for print, but it was an alliteration that started with the color and had a tagline of “everyone gets a ride!”
I’ve just been calling the Geo either “the Geo” or “the POS” because the entire thing is basically held together with duct tape, but I can’t complain for $500
Financial Samurai says
The POS sounds like a better nickname for the Geo! Much more endearing!
Phil Johnson says
I’ve bought over 30 some cars and I’m only 27. Some were free but most were sub 500 dollar cars. I’ve made some money on a few, and lost out big time on some too. Lately though my car buying spree has been slowing down. A combination of increasing used car prices, a lack of the type of cars I like (RWD), and an income that is half of what I used to make has forced me to hold on to cars for a longer period of time. Now instead of getting rid of a car simply because I’m tired of it I get rid of them when they break down. Since the cars are so cheap to begin with I don’t lose much.
Financial Samurai says
Wow, I thought I was an addict! 🙂
Wow, I am glad I am not the only one with this problem. I have felt the desire and highs and lows as described here in the comments. In 32 years of driving I have just purchased my 62 nd car. I have lost total control and wasted thousands of dollars over the years. Lookjing for help and coping mechanism. I have had a love affair with cars most of my life!. I hve close friends into cars and they tend to owm many or another friend who seems to have the midas touch and always finds the exotic car parts and deals.
JFP-You’re certainly NOT the only one w/this problem! And I’m with you-‘looking for help and coping mechanism(s)’. I’ve noticed also-my car addiction has gotten more pervasive as my salary increased over the years. The cars have always been ‘affordable’-but they’ve gotten more expensive and more frequent as I started making more money. Out of curiosity-what do you guys see in ‘relationship status’? Specifically-I’m single-and this began to REALLY kick in after my divorce. Dating a woman now w/3 children (10 yrs after my divorce and a zillion cars later)-I often have to ask myself if the money for a trade-in would be better spent toward a potential future of us together. So, I’d be curious to see the demographics on this-issue. I’m sure vastly male, 18-50+, and again-I’m suspecting more single guys. Thoughts? I’m not saying we should all get into a relationship to solve our problem! But for me-it’s been helping curb some of my impulsiveness lately. The OTHER option I’m thinking-especially for folks w/o pensions-at 40-I could pump even MORE money into my 401k-money I never see-and will certainly use in the future. Maybe working w/a tighter budget will also help…? I struggle though too guys-so any and all suggestions are welcome. Good luck amigos. -Jason
I am not single and have children and realize I am squandering some of their future with these car purchases over the years. I think it is all part of a larger pattern or problem. My latest thing is handguns, buy trade, etc. Other things I could care less about, not into stereo systems, TVs, gaming, golf etc. I do enjoy cars and the sport of it, but use it somehow to curb other issues or disappointments in life. If you ever decide to be serious with this person you are dating and the 3 kids she has, you have to get this in control. I sometimes can’t believe how powerful this care buying impulse/pattern/rationalizing has become for me. Thank god it is not illegal to buy cars, else I woudl really be in trouble. Good luck Jason.
32 Cars in 20 years of driving….Maybe stupid but everyone has there one thing. Some gamble, some drink, some over eat, some spend on fashion….I like new cars. My family is well taken care of and no one is hurt because of it. I don’t know if its and addiction, our just a hobby. To each his own.
I am very guilty of having this car buying addiction. /; It’s like I get a certain kind of high when I look at cars or test drive them. I have bought/sold/traded about 10 cars in the past 6 years. It’s gotten out of control. I always make sure that each car is within my means and I can afford them, but I always buy a car and am left with an unsatisfied feeling when I drive it for a couple months and get over it. I think with each car I look at its good features, but focus on the bad stuff, like gas mileage, overall gas mileage, longevity, and features. Its so interesting because I took a philosophy class and (this is something I’ve always known) we basically learned that you can’t buy happiness. Life is filled with temporary highs, but when you truly look inside yourself and face your problems with true conscious awareness, you can decipher what the true core issue is. For me, i’ve been dealt with it with buying new cars.. just because I could, but now I am trying to get better and NOT buying a new car. It really is all about self control. Hopefully with this car I have now I can not pull into temptation and find a reason to buy a new one. Sorry for getting all technical and deep. Maybe I should try giving my car a name, ha.
Albert (and Sam)-I’m totally with you. Same here. 14 cars in past 9 yrs. WHILE I found this link I was researching for another car. Buddhism explains the ‘suffering of change’-that is-the suffering we endure when our feelings change about something-such as a car. We LOVED it-HAD to have it, then it wanes, and we’re left where we were before. I can rationalize and spin it a million ways in my mind-like the features you mentioned Albert. FORTUNATELY, the car I JUST test drove had problems-and I was strong enough to walk away from a bad deal. It feels literally like one-day-at-a-time. I’ve been seeing a psychologist for 8 yrs and I have yet to discover why I have this need. So—for us-or anyone in the grip of an addiction…let’s try to stay strong. I love the Simpson’s…I think I’m going to name my Acura ‘Marge’ 🙂 Hope it works! Good luck! -JB
Financial Samurai says
Good luck w/ Marge! Now that you’ve named her, I don’t think you’ll ever have the audacity to sell her!
Albert, I agree, there is more to it then the buying or “wheeling and Dealing”. Best of luck.
Anthropomorphism is a powerful, powerful thing. As soon as you name your car, you give it a personality and a soul.
Tyler S. says
I’ve never been one to be very big into cars. For me, it’s my transportation from A to B. That’s it. Bought by first car in high school for $125 – Ford Taurus, sold it for $75 before leaving for college.. still ran fine after almost a year. 2nd car $700 – Old Mitsubishi Eclipse, died after about 9 months.. sold for a couple hundred bucks. Now on my 3rd, $1600 – Honda Civic, hoping it lasts a while! I’ve seen some friends who bought new cars right out of high school wishing they never would have done it.. still making payments!
Financial Samurai says
You are lucky you do not have the addiction Tyler! $125 car? WOW! I need to start lowering my expectations of what someone should spend on a car. Fits well into my 1/10th rule for car buying though!
Thomas - Ways to Invest Money says
I dont know if people have an addiction or just feel entitled. Every one thinks they deserve a nice car or that having one means you have made it/have money. I look at cars as a waste of money. When I am in my used 96 civic that is excellent on gas – I see cars pass and think $350, 500, or $700 month car payment, gas, and oh yeah maintenance. Not worth it to me.
I love cars don’t get me wrong but looking at them and setting them as my wall paper works just fine.
Financial Samurai says
Cars really are a waste of money. However, it was always my dream to own a nice car or two once I had some money. I went a little nuts, but it was SO FUN to negotiate and trade cars every year! Some years I even made money. Many years, the car just cost about $500-$1,500 total after the sale, so it wasn’t too big of a deal.
I now treat Moose as family. Point a to point b!
The Saved Quarter says
I don’t have a car buying addiction, and in fact drive my cars into the ground. I’ve had 3 cars in 17 years of driving! But we’re currently shopping for a minivan and your thoughts definitely help me regain perspective – the nice new shiny just isn’t worth the depreciation!
Financial Samurai says
What’s the mini van for Denise?! Baby or two on the way perhaps?? 🙂
I don’t have an addiction to cars, but I do get a bit antsy for a new car when my car turns over 100,000 miles. I drove beaters in high school and was stranded more than a few times when my car died (and this was before cell phones!). Now, our car is 7 years old and has 106,000 miles. It feels less reliable to me, so I begin to worry about breakdowns. However, with our finances, we will be keeping it for at least three more years. (It has been paid off for 3 years now.)
Financial Samurai says
Nah, 100,000 is just the mark auto mechanics try and make you afraid. It’s really an arbitrary number. Your car can go to 150,000 no problem. These days, cars are so much better built than in the 70’s and 80’s!
my 2005 mercedes e320 4matic has 173,000+ and still drives wonderfully. I bought it used in 2008. pay a little more upfront to get a reliable car/brand. Do all of the recommended maintenance and pass 100k will be no stress. For a German car, 100k is “broke in”, etc.
I love cars, but broke my addiction years ago. I think it was when I made my last payment. (12 years ago). After 17 years, I “want” a newer car. I hope to drive another 15 years and I do not think my cars will last that long. I already almost reached my goal of running my car (Honda) into the ground. NOt literally, the value is almost zero. I am going to figure it out in the next couple months.
Financial Samurai says
But what about that 1957 Ford Mustang with the rustic leather seats?? Only live once Larry!
No such thing as a 1957 Ford Mustang!
John @ Married (with Debt) says
Being from a very rural area, cars and trucks are the big thing in high school and beyond. It is often a way to measure someone’s worth.
Yes, you live in a $20,000 trailer and drive a $45,000 truck.
I think new cars are the best way to turn a slow walk to the poorhouse into a quick drive.
Financial Samurai says
I can totally see how it’s a big thing in a rural area, b/c I don’t live in a rural area and I thought it was a big thing in my 20’s. I LOVE cars!
However, living in a $20,000 trailer and driving a $45,000 truck is financial suicide indeed.
Here’s how I got rid of my constant gadget upgrade addiction – I won’t upgrade till I manage to sell the one I have.
Financial Samurai says
I like that simple rule!
No car buying addiction here. I’ve purchased precisely 1 car. I had it built to my specifications (perk of working in auto industry baby). I will drive it until the wheels fall off. I just need to stay out of sports equipment and book stores. I don’t even let myself walk in unless it’s for a specific purpose. I rarely bring money into a book store unless it’s the cash that I saved just for that purpose.
Financial Samurai says
Oh wow, so that means you bought a new car? Did you follow my 1/10th rule of car buying by spending no more than 1/10th your gross income on a car?
Wow I can’t believe you bought 8 cars! Glad to hear you broke your addiction as that’s a really expensive one to have. Fortunately I don’t get excited at all when I think about new cars. I just want to be safe and not have to worry about breaking down and getting stranded.
I do like going to the auto shows and looking at all the classic cars and the racing cars though. I have no urge to buy or drive one but I think they’re really neat to look at. There’s something about Formula One and Nascar that fascinates me!
Financial Samurai says
Ah yes, the good ol days. Most guys I know what to go buy a car as soon as they graduate and get a job. It’s exhilarating! But, also financially foolish.
Fun times and I’m glad I cured the addiction.