If you can’t drive the car you love

January 29, 2009 / On telling assets from liabilities.

Joel Berry on why it makes financial sense to buy a modest car, own it as soon as possible, and drive it into the ground.

[Joel Berry's Geo Prizm]
Joel’s 1995 Geo, photographed by Jami Dwyer

Pretty simple insight: a car is a liability, so it’s best to act accordingly.

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2 responses

  1. kris

    This I know, this we are doing … but it is hardly fun.

    Good financial advice is almost never fun.

    February 1st, 2009 at 5:12 pm #

  2. Adrian Cooke

    Good financial advice is almost never fun.

    True statement. Small example: our van has a slow leak in the radiator, and in one of the tyres. I take it to the gas station each week to re-inflate the tyre to the right pressure, and to top up the coolant overflow container. When the outside temperature is below freezing, and I have forgotten my gloves, this really sucks.

    February 1st, 2009 at 5:33 pm #

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