How I Would Buy My First Car Knowing What I Know Now
Not the car I wanted at 24. The car that would have changed the trajectory of my finances.
I bought a G35 coupe at 24 on a $58,000 salary in New York City. I have already told you what that cost. What I want to tell you is what I would have bought instead.
The actual vehicle
2-3 year old Toyota Corolla or Honda Civic with 25,000-40,000 miles. Price in 2026 dollars: $16,000-19,000. Not exciting. Reliably boring. Private party purchase, not a dealer. This vehicle depreciates slowly after the first owner takes the hit. Insurance is half what I paid on the G35.
The financing
On a $45,000 starting salary, the 15% ceiling is roughly $434 a month total. After NYC insurance, fuel, and maintenance, the payment ceiling is approximately $66 a month. $66 a month finances almost nothing. On $45,000 in NYC, the financially rational move is to save $8,000 and pay cash. No loan. No interest.
The actual difference at 30
G35 path: $49,500 spent on the car. Net worth contribution: -$43,000. Civic path: $200/month ongoing costs. Net worth contribution: approximately -$14,000 over 60 months. Difference: $29,000. Invested at 10.5% from age 24 to 30: $52,000. I would have had $52,000 more in investable assets at 30.