Why buying a car can make you broke

So my father bought a car in 2020 and the unbelievable happened.

He bought a car that he couldn’t drive. What I mean is that my father bought a car when he had no idea how to drive.

Each time he wants to travel to any place, my father will seek the service of one of his friends who knows how to drive.

He was afraid to learn how to drive and I lived very far away from him at least to be his driver.

Consistently, the car had mechanical and electrical issues which he fixed.

Honestly, the car took from him more than it required when it was bought.

For three years my father had this car and he had no intention of learning how to drive because he was scared of crashing.

In a chat with him some time ago, I asked my father about his car and he told me he had sold it. Funny enough, my father did not sell that car close to how much he bought it.

The car became a headache to him and that is why he sold it. Till today, my father never stopped regretting why he bought the car in the first place.

He told me that it was because he wanted to show off and make people understand that he was equal to the task that was why he bought the car.

This by implication means that my father did not buy the car because he needed it but because he wanted to be like the others who had cars.

Today, he has never stopped to regret why he bought the car in the first place.

Know where to invest your money

Owning a car can make you broke. Invest wisely

That your money is enough to buy a car is not enough reason to buy it. It is very important to know where to invest your money.

Any car that is not bought for commercial purposes by the owner is of course a liability. That means that if your car cannot make you money, you will give it money. This is possible when you take it to a mechanic to fix some problems it is facing. In one way or the other, you are spending an unavailable amount of money.

Some of my friends will always say that buying a car is not an investment. It is only for leisure and of course, leisure extorts more money from the person involved.

Buying a car can make you broke

Owning a car can make you broke. Invest wisely

Someone who bought a car worth $20,000 can never be compared to someone who invested the same amount in a sure lucrative business.

I know of a young man who bought a car and started begging people for money for gas. That’s funny. How can you have a very expensive car and yet beg people for money to top up your gas?

This usually happens when the person involved lacks advisers or he is not ready to take advice from anyone. One wrong thing one can do to himself is to surround himself with bad advisers and kick out those trying to help.

If you don’t need a car it is wrong to have one. What I am trying to say is that, if you don’t have the money to sustain a car, buying it won’t be a good idea.

The money can be used for something else. Invest the money into something lucrative and trust me, you will never regret it.

Not knowing how to drive like my father is enough reason for you not to involve yourself in anything relating to owning a car else you will sell it off the same way my father sold his.

Save more money. Build a house and ensure you have a sustainable source of income. When you have all these at your disposal you can go ahead and buy your car.

A house and a sustainable source of income are much more important than owning a car.

Don’t be carried away by the way your friends flaunt their rides. A time they said is stipulated for everything. Wait for the right time to buy a car and strike.

Wrapping Up

Owning a car is one of the things everyone aspires to but what happens when you don’t have what it takes to sustain it?

Don’t be carried away by the way your friends flaunt their cars, there is time for everything.

Aspire to own a sustainable source of income with that, you can have and maintain a car.

Don’t allow yourself to go broke by buying a car. At the moment, I am sure you don’t have what it takes to maintain it. Only go for it when you are sure you can maintain it without sweating.

Hope this was helpful. Feel free to leave us a comment.

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Categorized as Review

By Sir Chike

Sir Chike is an Imo born teacher and actor. He studied at Alvan Ikoku Federal college of Education (AIFCE) Owerri, Imo state. He has obtained the following qualifications; 1. Nigeria Certificate in Education (NCE) in Political Science and Social Studies. 2. Bachelor in Education (B.Ed) in Social Studies