Funancials

The Funny Money Blog

Buying a Car Won’t Help You Reach Your Dreams

Budgeting, Debt ·

I was flipping through the pages of Money Magazine when an advertisement caught my eye. The ad was promoting the All-New 31 MPG Highway 2013 Honda CRV.

To soccer moms all over the world, this car is hella cool.

It’s also hella expensive.

My problem isn’t with the car itself, but instead with the Money Magazine advertisement.

Here’s what it says:

Before I have kids, I want to:

1. Fly a plane

2. Go sailing

3. Go mountain uni-cycling

4. Learn to pick the banjo

5. Run a marathon

6. Skyaking

7. March in a Mardi Gras parade

8. Rock climbing

9. Learn to SCUBA

10. Take up archery

You know that list of stuff you want to do before all that other stuff you’re supposed to do? The technologically advanced, up-for-almost-anything Honda CRV was built to help you check off every last item.

I would love to accomplish each of the above bullet points (don’t get me wrong), but how is a CRV going to help me? How is forking over $25,000 going to help me learn to pick the banjo? How is having a tighter budget going to help me go sailing?

It won’t.

False Advertising

Remember the term “false advertising”? I used to naively think companies were supposed to tell the truth about their products and services. I was under the impression that companies are held accountable for selling lies and presenting misleading information.

Honda isn’t just stretching the truth, they are advertising the exact opposite of the truth.

Allow me to break it down…

I drive a 2001 Jeep Cherokee, estimated value: $3800. I pay less than $500/year to maintain my car.

Let’s see what would happen if I purchased a 2013 Honda CRV:

  • If I finance my car for 60 months (at 3%) my monthly payments would be around $450.
  • My insurance would go up.
  • My annual vehicle tax bill would go up.

For AT LEAST the next 5 years, I have $6,000 LESS each year to spend on other things.

If I don’t buy the new car, that’s $30,000 I can use to:

1. Backpack across Europe

2. Give to charity

3. Buy a house

4. Cruise to the Caribbean

My Plea To Politicians

Cigarette companies are supposed to boldly tell you that smoking will kill you. I think car companies should have a similar responsibility to clearly define the risks of buying a new car.

“Buying A New Car Will Leave You Poor”

Be sure to visit www.leaplist.honda.com to tell them all of the dreams you haven’t accomplished because you’re still making your car payment.

A Blinkin

Hunter, aka A. Blinkin, is the blogger behind Funancials. His experience in banking, lending, payments and investments has earned him the title of "Personal Finance Guru." In addition to helping people with their finances, Hunter enjoys crunchy tacos, open mouth kisses from his 2 baby boys and writing in third person.

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Important Disclosure

I'm a big believer in transparency. As such, you should know that I make money from this blog. Weird, I know. The way I make money is simple: I occasionally link to products and companies that I believe provide tremendous value. If you choose to sign up, I may receive a small payout. This payout comes at no additional cost to you and, trust me, it's small. I'm in no position to quit my day job. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.

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