Lower Your Expenses

Lessons Learned From Owning Seven Cars

Updated on March 27, 2020 Updated on March 27, 2020
Listen Money Matters is reader-supported. When you buy through links on our site, we may earn an affiliate commission. How we make money.
Table of Contents  
  1. Lessons Learned
  2. Show Notes

How many cars have you owned over the years? Is it more than seven? That’s how many Matt has owned. And he learned a thing or two. These are the lessons learned from owning seven cars. Some learned the hard way!

My 89 Dodge Shadow was bumpin.

Tweet This
  1. Dodge Shadow
  2. Ford Ranger
  3. Chevy Blazer
  4. Jeep Wrangler. No radio, speakers or back seat.
  5. Honda Civic Sedan
  6. BMW 328 xi
  7. Honda Civic Two Door Coupe

Lessons Learned

  • If you have assholes for friends, don’t give them the keys to your car.
  • Never leave your car at your dad’s cousin’s shop.
  • Don’t buy 50 pounds of popcorn to fill the back of your Ford Ranger and drive around town. Could be epic but you’ll get bored and do something else before you carry out this awesome plan.
  • A car has one purpose. To drive you from Point A to Point B. A Honda Civic achieves this just as well as a BMW.
  • Pay your current car off before you trade it in.
  • Always put money down when you buy a car. It will lower your monthly payment.
  • It should take no longer than four years to pay off a car.
  • Buy practical. How do you know if it’s practical? If it costs more than $100 to replace a single tire, not practical.
  • Know how much the car you want should cost before you walk into the dealership. Do your research on Edmunds.com, Cars.com, or Autotrader.com. These sites will tell you what the car is worth and the lowest price the dealer can let it go for.
  • Always buy used. A car depreciates the moment it’s driven off the lot.
  • Get a warranty. You will pay extra but it will cover major work.
  • Never lease. You’ll never own the car so always have a car payment. You have to stay under the mileage so No Great American Road Trip.
  • Size matters. A V6 engine and four wheel drive will consume more gas. A four cylinder will be much cheaper to fill. Tires and even insurance are more expensive on a bigger car.
  • Or don’t bother with any of this and get a bike. Cheaper and healthier. (Just added that to annoy Matt!)

Show Notes

Edmunds: a site that let’s you research prices for new and used vehicles and contains a database of dealer incentives and rebates.

Cars.com: is a site that lets you search for information on new and used cars online.

Autotrader: is an online marketplace for new and used cars.

Candice Elliott - Senior Editor
Candice Elliott is a substantial contributor to Listen Money Matters. She has been a personal finance writer since 2013 and has written extensively on student loan debt, investing, and credit. She has successfully navigated these areas in her own life and knows how to help others do the same. Candice has answered thousands of questions from the LMM community and spent countless hours doing research for hundreds of personal finance articles. She happily calls New Orleans, Louisiana home-the most fun city in the world.

What's next?

learn course podcast popular toolbox