Originally Posted by 80smith
Even with 2 kids. Young kids I add?
What he means is, a car is a deteriorating liability. It's not an asset and it's not an investment. They depreciate rapidly and bleed you of money.
They're necessary, but they're in no way a financial asset.
I think he's saying not to pay a dime more than you have to, unless you have those dimes to spend... and a nice car is where you choose to reward yourself a bit.