When it comes to cars, buyer’s remorse is the worst because there’s no return policy.

My first experience with buyer’s remorse was when I had purchased a new vehicle when I was 24 after receiving a lucky break. Within two months I regretted my decision.

A year and a half later, I sold the vehicle for a $10,000 loss because it couldn’t fit in the garage of the condo I wanted to buy. After realizing how much better it was to own an asset that could go up in value, I decided to stop wasting money on cars.

After driving an old $8,000 Land Rover from 2005 – 2014 and a $230/month business lease Honda Fit from 2014-2017, I finally stepped up and bought a two-year-old Range Rover Sport with 10,500 miles for $60,000 after tax. It would have cost $81,000 new after tax.

It’s been two years since I purchased the Range and I have zero regrets. The car runs perfectly and is fun to drive. I also like how it looks with 22″ rims, black tinted windows, black leather, and a metallic black exterior.

If you’re afraid of experiencing buyer’s remorse when purchasing a luxury vehicle, here are some tips that helped me eradicate all guilt.

One of my most financially helpful, but polarizing articles is The 1/10th Rule For Car Buying Everyone Must Follow. I wrote this post to help mostly younger folks not blow their money on the most common financial destroyer. We all know that almost all cars are guaranteed to lose value.

As a young man, I used to view my Toyota Corolla Hatchback as an asset because I didn’t know better. How could a car be a liability when I could take girls out on dates, drive to William & Mary from the DC-area to get a solid education, and take a nice midnight jaunt along the Jamestown river during final exams?

Now I view my vehicle as a liability. All I see in my garage is a large heap of metal necessary to transport my family safely. I’ve got to keep feeding it money in order for it to run – gas, new tires, maintenance, tax, tickets, accidents, and insurance. I’d much rather have the money sunk in my car producing passive income for financial freedom.

For those of you curious about what it’s like to follow the 1/10th Rule For Car Buying for the past 15 years, let me give you an honest assessment as an ex-car fanatic who has owned a dozen cars in his lifetime. The journey just might save you a lot of money and bring you more happiness in the process.

After analyzing the safest cars on the road and researching the best mid-life crisis cars to buy, I’ve finally come to a decision on what to get next. For almost three years, I’ve been driving a Honda Fit to weave my way around Bay Area traffic. The $235/month business lease is almost over, and it’s time to move on. I’m turning 40 this June, and gosh darn it, I think I deserve to drive something nicer!

Given I’ve spent my whole life being frugal, it’s been extremely hard to spend more than $20,000 on a car. It just feels dumb when my car will just sit in the garage for 23 hours a day on average. Further, cheap ride sharing options are everywhere. What used to cost $25 to go downtown via taxi from the western side of San Francisco now costs only $6 through Lyft line!

To help overcome my frugality, I asked three folks with nice vehicles to share their perspective. For those who are also suffering from frugality disease due to an intense desire to never have to work for anybody again, I think you’ll find this post to be incredibly insightful.

Did you know that despite all the technological advancements in car safety, the car accident death rate had the highest rate of increase in 50 years in 2018? Lower gas prices and a better economy are two reasons cited for more driving and more dying on the road. But the other culprit is distracted driving due to our damn mobile phones. We’re texting, searching for new Pandora stations, and surfing the web while driving more than ever before.

Within the past three months, I’ve witnessed four accidents and experienced three close calls. One accident was strange because two cars stopped at a four-way intersection with stop signs, but the Audi Q5 SUV then proceeded to plow into the Toyota Prius’ front passenger door! I was rolling up to the intersection when the accident happened. The woman driving the Audi wasn’t aware of the Prius to her left because she was either in a hurry or looking at her phone.

Take a look at the following crash statistics in America and the world according to the Association For Safe International Road Travel for 2016.

Annual United States Road Crash Statistics

• Over 37,000 people die in road crashes each year
• An additional 2.35 million are injured or disabled
• Over 1,600 children under 15 years of age die each year
• Nearly 8,000 people are killed in crashes involving drivers ages 16-20
• Road crashes cost the U.S. $230.6 billion per year or an average of $820 per person
• Road crashes are the single greatest annual cause of death of healthy U.S. citizens traveling abroad

Annual Global Road Crash Statistics

• Nearly 1.3 million people die in road crashes each year, on average 3,287 deaths a day.
• An additional 20-50 million are injured or disabled.
• More than half of all road traffic deaths occur among young adults ages 15-44.
• Road traffic crashes rank as the 9th leading cause of death and account for 2.2% of all deaths globally.
• Road crashes are the leading cause of death among young people ages 15-29, and the second leading cause of death worldwide amongst young people ages 5-14.
• Each year nearly 400,000 people under 25 die on the world’s roads, on average over 1,000 a day.
• Over 90% of all road fatalities occur in low and middle-income countries, which have less than half of the world’s vehicles.
• Road crashes cost USD $518 billion globally, costing individual countries 1-2% of their annual GDP.
• Road crashes cost low and middle-income countries USD $65 billion annually, exceeding the total amount received in developmental assistance.
• Unless action is taken, road traffic injuries are predicted to become the fifth leading cause of death by 2030.

I love cars, but I love my life even more. The two easiest things a driver can do are: 1) slow down, and 2) stop looking at or talking on your mobile phone. If you’re a parent, I’d also consider not allowing your teenager to drive or get into a car with another teenage driver.

For those of you who also value the importance of safety, especially if you have a baby or kids, I wrote this post for you.

If you were to guess what the average new car price is nowadays, what would you guess? I guessed $23,000, since my Honda Fit is sweet and only costs $19,600 new. Given I’m frugal, leaving a 20% upside pricing buffer seemed logical. Too bad I was way off!

According to Experian, one of the big three credit scoring agencies, the average car price now tops over $34,000 in 2019! Holy moly that’s ridiculous. All-time best selling family cars such as the Honda Accord and Toyota Camry only cost $26,000 fully-loaded. So how on Earth can the average car price now be 31% higher than these two?