RR Evoque Black Edition ~$68,000
Why is it that some hybrid vehicle drivers eventually start looking down at non hybrid-owning drivers in disdain? Is the “holier-than-thou” complex too hard to contain during flights of fuel sipping passion? It’s natural to feel that whatever you purchase is the right purchase. After all, if I overpaid for a hybrid vehicle (zing!) in hopes of saving the environment when a similar non-hybrid vehicle will do, I’d defend my decision and look down on others as well! Don’t be mad, let me explain.
THE FINANCIAL SAMURAI VEHICLE
For those of you who have been following this site for a while, you’ll know that I’ve had plenty of cars over the past 10 years, and I now drive a 9 year older beater SUV which is MAYBE worth $6,000. I love “Moose“, as I affectionately call him, because he adeptly takes us up the snowy mountains during the winter with its 4-wheel-drive capabilities. Moose can conveniently carry up to 5 people with plenty of storage space, which is especially helpful when our parents visit. Too bad Moose only gets 15mpg in the City, and 19mpg on the highway. I can hear the hissing and booing now!
I bought “Moose” for $8,000 three years ago, from a woman who was in a hurry to dump her car before relocating to Amsterdam. Special brownies anyone? The hybrid craze at the time was dizzying, where seemingly rational people would spend $25,000 for a Prius vs. $15,000 for a comparable Toyota Corolla. If people did the calculations, they’d realize the premium price paid for the car is much greater than the gas savings over an average 7 year ownership period.
Consumers weren’t adhering to our “1/10th” rule either, as I knew plenty of sub $100,000/yr income earners spending $25,000 for these hybrids. I must repeat here again that it is absolutely financial destruction if you are spending more than 1/10th your annual gross income on a car. Multi-millionaires follow this rule, why shouldn’t the rest of us? Don’t give into your weak desires!
If there’s one infatuation I and many men have, it is the love affair with cars. When I got my first paycheck, I bought myself not only a nice 850GLT Volvo (yes, an old man car for a 22 yr old kid), but also a Honda CBR600 racing bike! I had nowhere to park them in in NYC, so I actually had to park 20 blocks away, and take the subway back to my apartment! I dumped $18,000 in cash for the vehicles, and had to pay an additional $300/month for parking and transportation fees to my vehicles! How ridiculous is that?