There is a quote in Chinese “一种米养百种人 (Yī zhǒng mǐ yǎng bǎi zhǒng rén)”, which literally means the same kind of rice can feed all sorts of people. Indirectly, this means there will be different kind of buying attitude in one car buying deal. Some people prefer to loan higher than what they can actually afford just to get a luxury car to drive. On the other hand, some people who actually afford to drive exotic cars but they prefer to get a small and basic car to drive. The question is, spending lots of money on a car, is it worth or not?

Generally, bank will approve car loan for car buyer based on 1/3 of their take home pay. Most of the people will go maximum. For example, if a person take home pay or total income is $3,000 a month, he mostly will go for a car with $1,000 monthly installment. In the financial point of view, 1/3 of the total income is a little bit risky for the buyer, not for the bank or creditor. Imagine the life after spending a lot of money on just a car. There are still car insurance and taxes to pay other than monthly car payment.

A new luxury car may incur intangible cost such as a better car park is needed (extra payment needed for people who stay in condominium), extra cost for car accessories like steering wheel locks, carpet, this and that. Besides, some people may get panic or they must park the new car within their visible area. Now ask again, is it really necessary to spend lots of money on a car and get ourself busy with it? Cars over $50,000 hardly keep a person low profile. Kidnap may happen to children if you have one.

All these are headaches when one purchases an expensive luxury car. However, this is not a problem for people with high profile or good port folio or people who really loves car. Last but not least, a main question to ask before buying a car, “Do I really need it?”