R ethinking the car purchase

When you’re still building wealth, buying a car might feel like a milestone. It’s often seen as a sign of success, independence, or stability. But if we look closer, a car can quietly drain your finances—even when it’s parked in the garage.

Let’s compare it to a motorcycle. Motorbikes are relatively cheap to maintain. They help you save time compared to public transport, and if you often take ride-hailing services, using your own motorbike can also save you a good amount of money on fuel and fares.

But cars are a different story. A car doesn’t just cost money when you buy it—it keeps costing you money every month. Think insurance, taxes, scheduled maintenance, surprise repairs, fuel, parking, and maybe even monthly installments if you bought it on credit. Even if you don’t drive it every day, those costs don’t stop. Unlike a motorcycle, a car can’t be seen as a cost-saving tool. It’s more like a slow leak in your wallet.

That said, buying a car isn’t just about buying a vehicle. You’re buying comfort. You’re buying air conditioning, space, and the ability to play your own playlist without sharing a ride with strangers. And that comfort is real. So, if you’re willing to delay that comfort for a bigger goal—whether it’s investing, saving for a house, or funding your own startup—then do it. Not everyone is willing to sacrifice comfort, and that’s okay. But if you are, that trade-off might bring better returns in the long run.

Sure, if you live with a big family or need to drive long distances regularly, a car might be necessary. But if most of your travel can be handled by ride-hailing apps or public transport, it’s worth reconsidering. Renting or using online taxis when needed can actually be more cost-efficient in the long run—plus, you skip all the stress of ownership.

There’s also something freeing about not owning the vehicle you ride. No need to think about oil changes or insurance deadlines. You just pay for the ride, get to your destination, and move on with your day.

Cars aren’t evil. But if you’re still in the process of growing your financial foundation, you don’t need to rush. Your future self might thank you.