I have been thinking about purchasing a new car recently and this whole process has reminded me how many of life's decisions are better made when they are looked at as an investment. This also includes non-financial decisions, since just about all decisions we make involve a time, energy or emotional commitment. Some people might think I'm a little over-the-top to think this way, but this view on life can pay for itself many times over, just as a good financial investment can.
My current automobile has proven to be a worse investment than I would like to admit. This might have something to do with the fact that I suppressed a few of my governing principles when I made the initial purchase. I have since become a bit wiser and committed to not make the same mistake again. I am considering the total cost of ownership with the potential new purchase, including value, reliability, warranties, resale value, practicality and so forth. This is how any major purchase or decision should be viewed. Hindsight is 20/20, so we will never make all our decisions perfectly, but investing time up front and considering the total cost of ownership of an investment approach or financial advisor relationship is crucial.
In regards to the auto purchasing, there are many great values available right now, along with tax incentives. If you happen to be in the market for a new car (remember total cost of ownership) I have a link here on my blog to TRUECAR, a great new site that helps you discover what people are "really" paying for their cars. Cars are a neglected side interest that I have, so maybe I will blog more about the auto industry in another post later on.
Scott, I just read through all of your posts. I enjoyed them and look forward to more sage advice in the future. Did you purposely use a different word for "car" in each paragraph of this post? I wondered if that was purposeful writing or just how it happened to flow from your typing. Great job on your blog!
ReplyDeleteP.S. This is Melissa. Somehow that comment said that I was Dave, but I'm really Melissa.
ReplyDeleteMelissa, I didn't consciously change the word for "car" in my post, but I was taught that writing is more interesting without too much repetition. Thanks for the insightful comment.
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