Right or Luxury?
As expected, yesterday's post offended a fair number of people. We Americans love our cars, and the mere suggestion that we shouldn't have a car payment sounds as absurd as me suggesting we ought to live our day-to-day lives naked like a bunch of crazy nudists. That suggestion would sound absurd to nearly everyone, and for many reasons, so too is my suggestion that we should all live without vehicle payments.
One of my friends was particularly peeved by my absurdity and decided to call me.
"Travis, do you know how expensive cars are these days?!?! It's practically impossible for most people to buy a new car without getting a loan."
"Yeah, you're right."
"So how do you expect most people to buy a new car without having a payment?"
"I don't."
My friend is absolutely correct! New cars are brutally expensive. Based on recently published data, the average price of a new vehicle during the first half of 2025 was approximately $49,000 (with an average payment of $745/month). Therefore, we have two options: 1) We fork over $49,000 of cash, or 2) We elect for big, fat car payments.
Therefore, my friend makes a good point. It's nearly impossible for most people to buy a new vehicle without large payments. Or.....or.....or, hear me out. Perhaps we can put a third option on the table: 3) Don't buy a new car!
Buying a new vehicle is a luxury, not a right. However, since this is America and our culture is so twisted, we've conditioned the masses to believe that everyone deserves to buy a new vehicle. The truth is, we don't inherently deserve to go out and buy a new vehicle just because everyone else is doing it.
I've never owned a new vehicle in my life, as I don't believe the lie that buying a new vehicle is a right (or a good decision). Even if I could buy a new vehicle, I doubt I ever would. One of the consequences of my decision not to buy a new vehicle is that I haven't had a car loan for more than 17 years. Here's a rough history of all the vehicles Sarah and I have purchased in the past 17 years:
2008: Used Honda Accord - $15,000
2013: Used Nissan Altima - $16,500
2017: Used Toyota Highlander - $15,000
2018: Used Nissan Altima - $15,500
2024: Used Nissan 350Z - $9,000
Today, our three vehicles have a combined value of $20,000-$25,000.....COMBINED! Would we like to upgrade our vehicles? Of course! And we probably will later this year, but going into debt to do so is an absolute non-starter. We'll buy whatever vehicle we can afford with the cash we have saved for said purchase. Buying new vehicles isn't a right; it's a luxury.
On the flip side, you wouldn't believe the number of people who make $50,000 per year who drive new $50,000 vehicles. The big, fat car payments people are signing up for are crushing their ability to make progress in their financial lives. It's madness!
I again invite you to join the movement. Let's live out a different reality for people to witness. A debt-free reality where we buy vehicles we can afford and live meaningful lives that are far richer than being a slave to our payments. Let's go!
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